Cryptocurrency Scams: How to Detect and Avoid Them

 

Due to the prevalence of fraudulent activity since its inception, the bitcoin market has become well-known. Scammers employ a number of techniques to trick bitcoin consumers and take their hard-earned money. 

How do crypto phishing scams work?

The well-known cyberattack known as phishing has been around for a while. The FBI Internet Crime Report for 2022 states that phishing was the most prevalent technique, with 300,497 victims losing $52 million as a result. This fraudulent activity has now spread to the world of cryptocurrencies. 

A crypto phishing scam is a strategy used by scammers to steal sensitive information, such as the private key to your wallet. They accomplish this by posing as a trustworthy organisation or individual and requesting personal information from you. The information you supply is then used to steal your digital assets. 

Crypto ph

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