Crypto Scams: Did FTX Really Get Hacked or is the Public Being Scammed? Nov ’22

The financial implosion of one of the largest crypto brokerages, FTX, proved anyone is vulnerable to being hacked. The value of Bitcoins has fallen dramatically this year, and it’s not surprising that scammers are trying to steal your coins or take over your account. Hackers made off with $600 million bucks. Another question is, did SBF bury some cash & crypto in one of his Bahama estates?

People have always tried new ways to trick others into getting their hands on someone else’s cash without working for it. These days, they are targeting people who use cryptocurrency by pretending they’re from one service or another with an offer too good to refuse.

Bitcoin Exchange Scams

There are many types of cryptocurrency exchanges. They vary in the amount and type of personal information they require from users if any! Some allow for anonymity, meaning there is no need to enter your name or address into a database full of other people’s sensitive data. EToro is one exchange with no negative publicity.

Some exchanges may advertise themselves through social media or the internet but only offer fake coins in return for your real money and Bitcoins. These operations exist solely to steal from unsuspecting investors who don’t know better than to avoid them.

These cleverly designed, legitimate-looking programs will take your hard-earned money and never give you anything in return. They also have a knack for showing real-time prices – but don’t be fooled by their tricks because they are just here to steal bitcoins from unsuspecting users like yourself. It’s important to do plenty of research to ensure they are legit.

Also Read: 8 Common Bitcoin Scams to be Aware of by Binance.us

Using Malware to Obtain Login Credentials

It’s unsurprising that hackers have been getting increasingly clever with their computer viruses. They’ve recently begun using keyloggers to steal Bitcoin private keys or login information from cryptocurrency exchanges without the user noticing it.

This is just one of many unfortunate trends in today’s world wide web. Be sure not to click on any suspicious website link if you want to protect yourself against this threat from malicious software, unless you’re110 {6aa11594adb7b01aab46e95d39b341c641e836f398e01e26cabf2996f3166d97} sure about its authenticity.

Phishing Emails

Thieves are now using elaborate hoaxes to steal bitcoins. They buy domain names that seem similar to those found on trustworthy exchanges and then send bogus emails with these domains, requesting recipients check their bitcoin accounts for transactions.

For example, they may buy the domain name coinsbase.com rather than coinbase.com and then send bogus emails with this domain. They ask the recipients to check their bitcoin accounts or login information by including links leading them back to the scammer’s website.

Related: Did You Get Ripped Off?

The website looks just like legitimate exchanges’ login pages but will instead lead victims into giving personal account details. The victims won’t realize what has happened until it is too late. Hackers can take control of your account and steal everything in it. Always inspect links sent to you by anyone, even if they appear legitimate.

Promises Of Value Increases

Bitcoin scams are a dime a dozen. If you come across any websites claiming to double your Bitcoins or guaranteeing daily returns on them, don’t fall for them! The only way to double the number of bitcoins in your wallet is through mining new ones – which requires time and money (and an expensive computer).

Bitcoin scams are on the rise. You should be aware of these scams and how to avoid them before they happen to you. Always do your research when using cryptocurrency exchanges, and never click links in emails.

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