How to Avoid Crypto Scams - Crypto JBro
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This document provides information and advice about how to protect yourself from cryptocurrency scams. It outlines common scam techniques like fake social media accounts, misleading websites and apps, and email phishing. The author explains different types of scams involving giveaways, new ICOs/exchanges, and requests for private keys. To stay safe, the document recommends thoroughly researching any offers, being skeptical of ads, using strong passwords and 2FA, avoiding remote access, and reporting scams. The overall message is for individuals to take responsibility for protecting their crypto by educating themselves on scams.
How to Avoid Crypto Scams - Crypto JBro
- 1. Why I Created this Course With the recent chaos and more investors, crypto scams are exploding with frequency and sophistication. We, the people are the weakest links when it comes to getting scammed. The first video of this course will show you how we are being attacked. The second video will show you the precautions to take, your state of mind, and questions to ask yourselves.
- 2. Don’t be the sucker! Once we are scammed of crypto, we rarely get it back because of immutable transactions. “They said I would get thousands of coins if I just sent them a couple hundred…”
- 3. Routes of Attacks ● Fake accounts / hacked social media accounts. ● Paid ads that look and sound official. ● Imposter websites (check https, spelling, official accounts) ● Fake apps, android is more susceptible. ● Email scams ● Blackmail scams (control of computer / accounts, etc.)
- 4. Different Scams and Schemes Official account gets hacked You trust it, send some crypto and lose it or send data that you should not send Messages sent for giveaways and contests Fake official accounts created You are sent an official looking email You see an ad on a major site for a giveaway It takes you to an official looking offer page / site. You see a new exchange and sign up There is a flashy new ICO / coin offer available You use an official looking phone app
- 5. Crypto Giveaway Scams Scammers use giveaways and contests to try to get you to send them crypto or reveal sensitive details. Never transfer your crypto for these reasons! It will be lost. Go to the source. Research the home pages and official social accounts for whatever coin is being offered. The scammers want your emails, phone numbers, banking info, and private crypto keys as well. Keep your info to yourself.
- 6. Scam Promises and Messages ● Send us crypto to get even more (double it) ● This new startup / ICO will return 5X your investment. ● We just need your private key / seed phrases. ● We’ll send you an email and you just click the link. ● A brand new state of the art exchange ● Free crypto / money for signing up ● Time is running out on this offer (rushing you). ● Invite your friends for this deal (ponzis / pyramids).
- 7. How to Protect Yourself
- 8. Always Research Offers! Since we are the weakest link for getting scammed, we need to be cautious of every offer we see. Always be distrustful as a first instinct. Search to see if others have been scammed with the offer being presented to you. Go to the official sites and social accounts for the offer sources. Let your research from all these angles show you that it is legit. Don’t take their word for it.
- 9. Don’t Trust any Ads Scammers are having their paid ads served to us on massive sites we use. We can speculate as to why they are reaching us on Google, Facebook, Youtube, etc. The “why” doesn’t matter. Just know they are there. The point is that we can’t trust ads just because they are on a large platform that we use. They target your search behavior, related videos, post, and pages. Always be skeptical about giveaways and those asking for info and crypto.
- 10. Private Keys are Private! Never give out your private keys or secret phrases to anyone! Hardware wallets are vital since they keep your private keys offline forever. In my view, any private key that is online is vulnerable. An exchange holding your crypto is not completely yours. “Not your keys, not your coins!” (Keep your coins off exchanges when you are done with them.)
- 11. Use Anti-Virus / Linux Malware and other viruses seek out your private information in order to steal your identity, money, and crypto. A good anti-virus for your phone, tablet and computer is a must have. Linux OS is another suggestion. This is another layer of protection against beinig a victim.
- 12. Use Two Factor Authentication Two factor authentication (2FA) is another requirement in the crypto space, in my opinion. This is when you are logging in and you are texted a code or you use an app that gives a rotating code to enter. Scammers will try to get you to enter your code. But, you need to keep it secret and use it with official sites.
- 13. Secure your Browsing Anti-virus and privacy browsers (Firefox, Brave) should be used all the time. The MetaMask add-on / extension also blacklists counterfeit crypto sites. An extra step in protection is a VPN (Virtual Private Network). These keep your identity anonymous online. They can help secure your data and keep prying eyes off of it, including large tech corporations.
- 14. Don’t Allow Remote Access Some scammers will get you to call or chat with them. In addition to asking for personal information or to send crypto, they might try to get remote access to your computer. Never allow it! This should never have to be done with crypto. They are looking to steal your money and details.
- 15. Report Scammers! Reporting scams to the platforms where they are happening. Those sights don’t want them on there since it compromises their business reputation and users. In the US, you can report to ftc.gov/complaint and others. When more people report these crimes, more attention will be given to them.
- 16. Conclusion You must take responsibility for your crypto and protect it! Now you know the scams to watch out for and how to defend against them. We are the last line of defense. If an offer is too good to be true, avoid it! Always stick to the basics of not providing personal information unless you have thoroughly researched it. NEVER give out private keys or seed keyword phrases.