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4 Common Cryptocurrency Scams

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Ground Report | New Delhi: Cryptocurrency scams in India; As more people are interested in cryptocurrencies, scammers are finding more ways to use them. For example, scammers might offer investments and business “opportunities” promising to double your investment or give you financial freedom.

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Cryptocurrency scams in India

Imposter Websites

  • Maybe you’re following a solid tip from someone with a lot of expertise, but still fall victim to a fake website by mistake. There are a surprising number of websites that resemble original, legitimate startup companies. If the URL bar doesn’t have a little lock icon indicating security and there’s no “https” in the site’s address, think twice.

fake mobile apps

  • Scammers deceive cryptocurrency investors is through fake apps available to download through Google Play and the Apple App Store.

Bad tweets and other social media updates

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  • If you are following celebrities and executives on social media, you cannot be sure that you are not following fraudulent accounts

Scamming Emails

  • Even if it looks exactly like an email you received from a legitimate cryptocurrency company, keep that in mind before investing in your digital currency. Is the email exactly the same, and are the logo and branding the same? Can you verify that the email address is legitimately associated with the company?
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Beware of anyone who:

  • Guarantee that you will earn money.
  • Promises you high returns that will double your money in a short period of time.
  • Promise you money for nothing in dollars or cryptocurrency.
  • Make confusing statements about your company.

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Crypto piracy is when scammers use the processor power of your computer or smartphone to “mine” cryptocurrencies for their own gain and without your permission. Just by visiting a scam website, malicious code can be placed on your device. With that, they can then access your device’s processor on their own without your noticing.

If you notice that your device is running slower than normal, draining your battery capacity quickly, or crashing, your device may have been hacked. Do the following:

  • Close sites or apps that slow down your device or drain your battery.
  • Use anti-virus software, set software and applications to update automatically, and never install a program or application that you find unreliable.
  • Don’t click on any links without knowing where it leads and be careful about visiting unfamiliar websites.
  • Consider installing a browser extension or ad blocker that can help defend against crypto-hacking. But first, do some research. Read reviews and consult reliable sources before installing any tools available online. Some websites may prevent you from using their site if you have a software blocker installed.
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