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1. • • A scammer pretends to be a celebrity who can multiply any cryptocurrency you send them. But celebrities aren’t contacting you through social media. It’s a scammer. And if you click on an unexpected link they send or send cryptocurrency to a so-called celebrity’s QR code, that money will go straight to a scammer and it’ll be gone.
     consumer.ftc.gov/articles/what-know-about-cryptocurrency-and-scams

     What To Know About Cryptocurrency and Scams | Consumer Advice

2. People also ask

   What are the most common social media cryptocurrency scams?

   • 1. The classic giveaway scam The common social media cryptocurrency scam follows a formula. The scammers mimic major brands and/or impersonate celebrities to promote giveaways that promise to double your money if you deposit bitcoin or other crypto assets into a designated wallet address.

   5 Social Media Crypto Scams to Avoid - CoinDesk

   www.coindesk.com/learn/5-social-media-crypto-scams-to-avoid/

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   How do crypto scams work?

   • Once the investor transfers crypto to the platform, the scammers continue to build trust by publishing false high returns on the platform, allowing them to withdraw and use funds, and encouraging more investment. Once the investor reaches a certain point, the scammer locks the account and asks for taxes or fees.

   Cryptocurrency Scams: How to Spot, Report, and Avoid Them - Investop…

   www.investopedia.com/articles/forex/042315/beware-these-five-bitcoin-scams.asp

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   Is social media a source of crypto fraud?

   • While social media may not be the number one source of crypto fraud –that would be decentralized finance (DeFi), according to Chainalysis – it’s certainly rife with scams. In December 2022, Metallica had to issue a statement warning fans of crypto social media scams ahead of their new album release: ⚠️ pic.twitter.com/KmlofVdiBM

   5 Social Media Crypto Scams to Avoid - CoinDesk

   www.coindesk.com/learn/5-social-media-crypto-scams-to-avoid/

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   Are cryptocurrencies a scam?

   • The highly speculative nature of cryptocurrencies makes them an ideal target for scammers, especially on social media. Here's how to protect yourself. While social media may not be the number one source of crypto fraud –that would be decentralized finance (DeFi), according to Chainalysis – it’s certainly rife with scams.

   5 Social Media Crypto Scams to Avoid - CoinDesk

   www.coindesk.com/learn/5-social-media-crypto-scams-to-avoid/

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   What are crypto phishing scams?

   • Within the cryptocurrency industry, phishing scams target people using crypto software wallets. Specifically, scammers need a crypto wallet's private keys—a string of letters and numbers that act like a password and are required to access cryptocurrency. Phishing scams are the most common attacks on consumers.

   Cryptocurrency Scams: How to Spot, Report, and Avoid Them - Investop…

   www.investopedia.com/articles/forex/042315/beware-these-five-bitcoin-scams.asp

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   Are crypto investment scams on the rise?

   • You can read more about crypto and investing in crypto from InvestSmart. Crypto investment scams are on the rise. In fact, reports to us about these scams have more than doubled since 2020, so it’s important to know what to look out for. Fraudsters tend to advertise on social media, often using images of celebrities to promote the fake investments.

   Crypto investment scams | FCA - Financial Conduct Authority

   www.fca.org.uk/consumers/crypto-investment-scams

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3. www.fca.org.uk › consumers › crypto-investment-scamsCrypto investment scams | FCA - Financial Conduct Authority

   www.fca.org.uk › consumers › crypto-investment-scams

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   Oct 9, 2023 · Crypto investment scams are on the rise. In fact, reports to us about these scams have more than doubled since 2020, so it’s important to know what to look out for. Fraudsters tend to advertise on social media, often using images of celebrities to promote the fake investments.

4. www.coindesk.com › learn › 5-social-media-crypto5 Social Media Crypto Scams to Avoid - CoinDesk

   www.coindesk.com › learn › 5-social-media-crypto

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   • The classic giveaway scam. The common social media cryptocurrency scam follows a formula. The scammers mimic major brands and/or impersonate celebrities to promote giveaways that promise to double your money if you deposit bitcoin or other crypto assets into a designated wallet address.
   • Fake verified accounts. Another common trick con artists use to steal crypto is to take advantage of the trust signals that social media platforms utilize, such as blue checkmarks on Twitter, which now can be bought through Twitter Blue for the low price of $8.
   • Twitter reply scams. As mentioned above, hackers have a history of successfully breaking into Twitter accounts in order to increase the impact of their scams.
   • Fraudulent YouTube live videos. One growing crypto scam on social media utilizes YouTube live videos. Researcher Satang Narang reported that in just one month YouTube Live giveaways defrauded $8.9 million out of investors.

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6. www.ft.com › content › 5987649e-9345-4eae-a4b8-9bfbThe lawless world of crypto scams - Financial Times

   www.ft.com › content › 5987649e-9345-4eae-a4b8-9bfb

   Sep 19, 2022 · Courts are now willing to grant global orders to crypto exchanges to freeze and eventually return ill-gotten cash, and to disclose the identity of suspected scammers. If blockchain forensics...

   • Author: Joshua Oliver

7. time.com › 6162350 › crypto-scams-online-crime-boomUnderstanding Crypto Scams and How to Outsmart Them | TIME

   time.com › 6162350 › crypto-scams-online-crime-boom

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   Mar 29, 2022 · Romance scams, investment scams, digital wallet hacks, pyramid schemes, ransomware attacks, and even digital art thefts—the methods may be different, but wherever you find a cybercrime victim,...

8. www.coindesk.com › learn › 6-kinds-of-crypto-scams6 Kinds of Crypto Scams and How to Avoid Them - CoinDesk

   www.coindesk.com › learn › 6-kinds-of-crypto-scams

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   Jan 18, 2023 · In this article we’ve rounded up the most common scams to explain what they are and how to identify them so you can protect your wealth. 1. Bitcoin scams. Bitcoin scams are nearly as old as...

   • Email: toby.bochan@coindesk.com

   • Occupation: Managing Editor, Web3 & Learn at Coindesk

9. www.investopedia.com › articles › forexCryptocurrency Scams: How to Spot, Report, and Avoid Them

   www.investopedia.com › articles › forex

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   Oct 12, 2024 · By understanding the common ways that scammers try to steal your information (and ultimately your money), you can know how to spot a crypto-related scam early and prevent it from happening...

10. consumer.ftc.gov › articles › what-know-about-cryptoWhat To Know About Cryptocurrency and Scams | Consumer Advice

    consumer.ftc.gov › articles › what-know-about-crypto

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    How To Avoid Cryptocurrency Scams. Scammers are always finding new ways to steal your money using cryptocurrency. To steer clear of a crypto con, here are some things to know. Only scammers demand payment in cryptocurrency.