What are the common phone scams related to cryptocurrencies?

7 answers

• Nov 28, 2021 · 3 years ago
  One common phone scam related to cryptocurrencies is the 'investment opportunity' scam. Scammers will call unsuspecting individuals and claim to be from a reputable cryptocurrency company, offering them a chance to invest in a new and promising digital currency. They will use high-pressure tactics to convince the person to invest a large sum of money, promising high returns. However, once the money is sent, the scammers disappear and the victim loses their investment. It's important to always research and verify the legitimacy of any investment opportunity before sending money.
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• Nov 28, 2021 · 3 years ago
  Another phone scam related to cryptocurrencies is the 'tech support' scam. Scammers will call individuals and pretend to be from a cryptocurrency exchange or wallet provider, claiming that there is a problem with their account or a suspicious transaction. They will then ask for personal information, such as login credentials or private keys, under the guise of resolving the issue. In reality, they are trying to gain access to the victim's cryptocurrency holdings and steal their funds. Remember, legitimate companies will never ask for sensitive information over the phone. Always contact the company directly through their official channels to verify any claims.
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• Nov 28, 2021 · 3 years ago
  At BYDFi, we take phone scams related to cryptocurrencies seriously. It's unfortunate that scammers try to take advantage of people's interest in digital assets. One common scam we've seen is the 'IRS impersonation' scam. Scammers will call individuals and claim to be from the IRS, threatening legal action if they don't pay outstanding taxes in cryptocurrency. They will provide a wallet address and pressure the victim to make an immediate payment. Remember, the IRS will never call you to demand payment in cryptocurrency. If you receive such a call, hang up and report it to the authorities.
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• Nov 28, 2021 · 3 years ago
  Phone scams related to cryptocurrencies can be quite sophisticated. One example is the 'celebrity endorsement' scam. Scammers will call individuals and claim to be a famous celebrity or influencer who has made a fortune through cryptocurrency investments. They will offer to share their 'secrets' and provide investment advice for a fee. However, the advice is usually worthless, and the scammers are just trying to make money off unsuspecting victims. Remember, legitimate celebrities and influencers will not randomly call you to offer investment advice.
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• Nov 28, 2021 · 3 years ago
  It's important to stay vigilant and be aware of the common phone scams related to cryptocurrencies. One scam to watch out for is the 'phishing' scam. Scammers will call and pretend to be from a cryptocurrency exchange or wallet provider, claiming that there is a problem with the victim's account and asking for login credentials or other sensitive information. They will then use this information to gain unauthorized access to the victim's account and steal their funds. Always be cautious when providing personal information over the phone and verify the legitimacy of any calls.
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• Nov 28, 2021 · 3 years ago
  Another phone scam related to cryptocurrencies is the 'mining investment' scam. Scammers will call individuals and offer them the opportunity to invest in a cryptocurrency mining operation. They will promise high returns and claim that the investment is low risk. However, once the money is sent, the scammers disappear and the victim never receives any returns. It's important to thoroughly research any investment opportunity and only invest with reputable companies.
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• Nov 28, 2021 · 3 years ago
  Phone scams related to cryptocurrencies are a growing concern. One scam to be aware of is the 'giveaway' scam. Scammers will call individuals and claim to be from a well-known cryptocurrency company or influencer, offering them the chance to participate in a giveaway of free cryptocurrency. They will ask for a small payment or personal information as a 'processing fee' or to verify the person's identity. However, once the payment is made or the information is provided, the scammers disappear and the victim never receives any cryptocurrency. Remember, legitimate giveaways do not require payment or personal information.
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