in

Vice: How to Not Get Scammed in the Crypto Market

Vice: How to Not Get Scammed in the Crypto Market



View Reddit by JackFisherBooksView Source

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

3 Comments

  1. 95% of the crypto scammed people talking to me trusted a third party who scammed them. This can be a new contact on a messenger, a new love on a dating platform, a person recommended in a forum etc. On the end of the day the new friend helps them to invest into bitcoin and then he runs away with the bitcoin and stops any contacts immediately.

    5% get scammed due to technical circumstances like a virus on the machine.

    So the lesson to learn is to get first educated how bitcoin & co works so that no third party is needed to do transactions. It’s peer to peer and not peer to bankster to peer.

    If you read this too late, there is a chance to trace the scammer to exchanges where his crypto assets can be frozen. For BTC you can check the [privacy score](https://btctester.com/bitcoin-privacy-score/) of the sammers address (where your coins went to). The lower the score the higher is the chance of successful tracing.

    However, if a scammer didn’t move the coins yet you need to be patient and even if you successfully track a fraudster there is the risk that he lives in a jurisdiction not cooperating with yours. Therefore be carefully if recovery agencies promise you that they recover all without knowing and analyzing the specific case. This can be evaluated only when law enforcement contacts the exchange to get the id of the scammer or to freeze any available assets.

  2. tldr; The world of cryptocurrency is rife with scams, including pump and dumps, fake coins, and massive hacks. What is it about these digital currencies that makes them so vulnerable to getting ripped off, and how do you keep yourself safe? Motherboard Senior Editor Jordan Pearson explains how to avoid these scams.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

What do you think?

Apple app XRP

Apple faces class-action lawsuit over an app that steals crypto

These Five Altcoins Are About To Go ‘Insane,’ According to Crypto Trader Aaron Arnold

These Five Altcoins Are About To Go ‘Insane,’ According to Crypto Trader Aaron Arnold