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Top 10 scams in cryptocurrency

Time : 07/12/2021 Author : 3j9v2m Click : + -
        Although cryptocurrencies have been with us for many years, a large part of them are still undiscovered areas, and we should be cautious. Many people fell into the scheme of swindlers and lost their life savings. According to the cainanalysis cryptocurrency crime report, in 2021 alone, cryptocurrencies worth $14billion were stolen. This figure has doubled from $7.8 billion in 2020. Today, let's take a look at the 10 largest cryptocurrency scams in history. We will also provide you with tips on how to avoid these scams. A major feature of cryptocurrencies is that they are irreversible.
        This means that once the transaction is completed, no one can revoke it. Neither cryptocurrency miner nor satoshinakamoto, the founder of cryptocurrency, can do it. Therefore, if someone is cheated, they cannot get back their cryptocurrency. Since bitcoin addresses use pseudonyms, encryption fraud is also fatal. They usually contain about 30 random chain characters independent of real-world entities. In the case of fraud, it is difficult to know the identity and address of the fraudster. Since the invention of cryptocurrency in 2009, many tokens have been legal cryptocurrencies, and onecoin is one of them.
        His founder rujaignatova encouraged members to buy educational materials and tokens, promising to bring them immeasurable wealth. This led to more than $4billion being cheated from 175 countries. Raees and Ameer co founded africcrypt in 2019. At first, they asked people to save money for bitcoin. Many people are eager to invest in africcrypt, not only in Africa, but also in the UK and other parts of the world. Everything collapsed in April 2021. Seven days before the so-called "hacker attack", all employees of africrypt were unable to access their accounts and the company's back-end platform.
        Thodex is one of the most serious cryptocurrency scams. The founder of cryptocurrency in Turkey carefully planned a plan to rob investors of cryptocurrency worth $2.2 billion. They asked investors not to worry and will resume operations in about five days. But it didn't take five days. Investors began to complain that they could not withdraw money from their accounts. Some people continue to file lawsuits. The mt.gox scandal is definitely one of the largest cryptocurrency scams in history. The bitcoin exchange mt.gox, headquartered in Japan, has been operating since 2010. By 2013, it handled more than 70% of the global bitcoin transactions.
        Mt.gox was attacked for the first time in 2011, and the attacker stole $8.75 million. The second and deadliest attack occurred at the end of 2013, when hackers stole $800000 worth of cryptocurrency, worth nearly $450million. The company never recovered from the blow and filed for bankruptcy in 2014. Therefore, they have to liquidate their assets. The stolen amount will be worth $5billion today. In July 2020, the twitter accounts of celebrities were hacked. Including Elon · Musk, Joe · Biden and Barak · Obama's account.
        The impostor promised to double the bitcoin sent to the designated bitcoin wallet in the name of giving back to the community. This leads to followers of black accounts sending their bitcoin. Hackers accumulated nearly $100000 worth of bitcoin before the public even knew it was a hoax. Jack ·, CEO of twitter; Jack Dorsey solved the problem and promised to investigate. They continue to lock accounts and delete fraudulent tweets. This was nearly an hour after the account was hacked. The encryption scam involving coindash occurred on July 17, 2017.
        This is the day coindash announced its first token issue. The hacker replaced the original Ethereum address with his own address and accumulated 43000 Ethereum tokens. At that time, the CEO of coindash announced that everyone who sent Ethereum to a malicious address would receive compensation equivalent to the lost CDT token of Ethereum. Surprisingly, the hacker returned 20000 Ethereum tokens and retained another 23000 tokens in September three months later. This action led to public speculation that this was an internal work. Unlike other Ponzi schemes, pincoin seemed legal at first.
        Investors use a token called IFAN to get paid, and promise that these tokens will build a bridge between fans and celebrities. According to tuoitrenews, pincoin promised that each investor would receive a monthly profit of 48%. This has led more people to invest in cryptocurrencies in Vietnam. Adinross, a twitter anchor, participated in a scam that cheated his followers out of thousands of dollars. In May 2021, Adin used his social media platform to promote milf tokens to his followers. After his promotion, the value of tokens increased nearly 20 times in 24 hours.
        According to coffezilla, adinross is said to have received $200000 for his participation. Later, adinross denounced the MILF token in a viral video. He said he only did it for promotional purposes and "hoped" that none of his followers had bought the token. This led to the complete decline of this token, and people also lost the money they invested in milf tokens. The fraudster pretended to be an disharmonious technical support and offered to help him solve the problems he faced. Coincu News reported that the value of the three NFT monkeys was close to $1million.
        He bought one two weeks before the incident. To tell the truth, he naively provided his documents to unknown people, so he paid a heavy price for it. In September 2021, the Korean restricted drama "squid game" was launched on Netflix. It was widely accepted and broke the record with more than 1.65 billion hours of streaming media in the first four weeks. However, the token is very suspicious. For example, people can only buy coins but not sell them. CNBC also reported that people could not comment on the token creator's Telegraph and twitter accounts. However, this did not prevent people from buying coins.
        Two weeks later, the creators sold all their tokens, causing the value of the tokens to plummet to $0. The move cost investors nearly $3million. After seeing how people lose thousands or even millions, we need to be very cautious. Here are 3 tips to ensure that you avoid encryption fraud. Before you invest in a digital cryptocurrency company, please conduct a thorough background check. Are they blockchain driven? Do they track their trading data?. Hackers set up fake websites every day to deceive unsuspecting users. These websites eventually look the same as the original website, but the URL has changed.
        Carefully check whether the logo and email address belong to the digital currency company. You should also avoid clicking on links in emails that take you to the designated website. One of the main conclusions we draw from the 10 biggest scams of cryptocurrency is "when the transaction is too smooth, please think twice. I also wish you all the best and a happy mining.".
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