By Joe Megan
Bitcoin, the most popular Crypto is now considered as one of the most popular investments. But do you know that this has raised a lot of new Bitcoin fraud? Yes, that’s the truth and unfortunately, you can be part of it if you don’t know anything related to this fraud. This article lets you know all kinds of Bitcoin fraud.
This is the type of existing bitcoin fraud –
Phishing fraud.
Always be aware of phishing fraud. Phishing attacks are of course a favorite among hackers and scammers. In phishing attacks, the person concerned usually disguised as a service, business or individual only by way of email or other text-based communication, or by holding a fake and manipulative website which seems to be real. The aim is always deceiving the victim to uncover their personal tips or send Bitcoin to the address of a particular scammer.
These types of emails often appear like they are legitimate but are false.
False exchange
Of course one of the most difficult ways for investor fraud is to pose as a branch of Internet marketers from a good and legitimate business. Yes, it’s special what scammer does in bitcoin discipline.
Many such exchanges exist and they presented themselves to be a place to exchange and trade Bitcoin, but finally fraud. Thus many exchanges have withdrawn from their money by simply disguising as honorable and legitimate cryptocurrency exchanges.
Fake ICO
Together with increasing companies supported by Blockchain, false ICOS is shot into popularity as a way to support these new companies. However, considering the bitcoin properties that are not regulated, the door has been wide open for all types of fraud activities.
The majority of ICO fraud takes place through getting investors to commit or by using fake ICO websites using fake bitcoin wallets or other Crypto wallets, or by appearing as a real Cryptocurrency-based company.
Many have been accused of doing such malpractices, it is better to verify the wallet before actually decides to put your money with them.
Humongous refund.
If you like the trade industry, you must already know now that Humongous’s refund is absolutely impossible when it comes to Bitcoin trading, or trading Crypto in general. Therefore, when a broker tries to give you a promise that your money will be doubled in a certain time frame, the best choice in such cases is to stay away from the broker as you can. They will only take your money and escape and you will be left with nothing but sadness and regret.
