Alert! Turns Out This Is How Crypto Phishers Steal Your Money

Scammers often use dating sites to make unsuspecting targets believe they are really in a long-term relationship.

When trust has been placed, the conversation often turns to opportunity cryptocurrencies profitable and finally transferring coins or account authentication credentials.

The Federal Trade Commission (FTC) found that about 20 percent of the money reported missing in love scams was in cryptocurrencies.

Imposter and Giveaway Scams

Never at their wits end, scammers also try to pass themselves off as celebrities, businesspeople or cryptocurrency influencers. To attract the attention of potential targets, many scammers promise to match or triple the cryptocurrency sent to them in what are known as giveaway scams.

Well-crafted messages from what often appear to be existing social media accounts, can often create a sense of validity and trigger a sense of urgency. This mythical ‘once-in-a-lifetime’, or literally ‘once-in-a-lifetime’ opportunity can lead people to transfer funds quickly in hopes of getting an instant return. Many crypto owners are contacted by impersonators claiming to be from crypto exchange support and security.