Penipuan Cryptocurrency

According to experts, the volume of cryptocurrency fraud will grow by 100% and reach $ 4.5 billion in 2021. We would like to stress once again on the importance of security, tell about new schemes, and eventually help save your funds from fraudulent activities.

Fake token giveaways (Airdrops)

Airdrop is a one-time distribution of coins and/or tokens to participants of crypto communities after they fulfill special conditions of advertising campaigns by various projects. Scammers seized opportunities in these models and, after successful distributions of 1inch and UNI, organized their own schemes. Their essence is to promise users 1inch and UNI tokens, but only after prepayment of the commission in ETH. After receiving the commission, the scammers disappear without providing the promised tokens in return. 

The second giveaway scam involves obtaining user data. For example, participants of fake airdrops receive messages from scammers requesting to provide user data and other important information. After receiving it, the scammers endanger the security of the accounts by their actions.

Mining fraud schemes

The Qrator Labs experts unveiled a new scam last year. They noted a significant increase in the number of bogus sites offering post-commission winnings and quick earnings. These sites have also popularized the scheme for making money by mining cryptocurrencies through a browser.

Fraudsters offer users to rent out the unused power of their devices for a solid reward. The system includes a counter of “earned” money scammers use to write off a small amount for verification and, thus, learning about the users’ bank cards. Later, the cybercriminals use this data to withdraw more funds.

Disguise as financial consulting

It has become common to see advertisements where “expert brokers” recommend investing in a particular cryptocurrency based on the price trend. This way, scammers offer to consult the user and manage their funds in exchange for payment, while they simply steal the funds.

For example, the initial fee can be up to $2,000, and requests for new transfers increase the size of the scheme to $20,000 or more. In this scheme, scammers can offer assistance in launching franchise startups or investment consulting. The essence of the fraud is the theft of funds with the eventual disappearance of “brokers”, removal of their websites, and disconnected phone numbers. 

Although the scheme is well known to participants in financial markets, the influx of new users amid the growing popularity of cryptocurrencies has given new opportunities to fraudsters.


Photo by Pixabay from Pexels 

Money laundering

All these methods we have listed, in one way or another, carry the risk of money laundering. Whether you like it or not, if you are not careful, you can become unknowingly complicit in the scheme. You will not only lose your own money, but scammers will launder the illicit funds through your computer or even your bank account. This can work either during the fake airdrop event or with the scheme when you are asked to send a small commission.

AMLBOT - Online scoring of crypto-addresses created by a team of Fintech specialists in line with international AML requirements.

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