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This scam “fattens a potential victim with flashy fake direct messages, cars, houses, and photoshopped bank profiles with hundreds of thousands of dollars, hoping someone will give in and send ...
From phishing texts to ‘pig butchering’ romance scams, cryptocurrency fraud is on the rise. Here’s how to spot scams before it’s too late. The FBI says crypto fraud cost Americans $5.6 ...
5. Romance Scams. Cryptocurrency romance scams have become a prevalent form of deception where fraudsters forge romantic ties to trick individuals into giving up their crypto assets.
Some scammers target dating apps with fake profiles. [164] In early 2022, the Beanstalk cryptocurrency was stripped of its reserves, which were valued at more than US$180 million, after attackers had managed to use borrowed US$80 million in cryptocurrency to buy enough voting rights to transfer the reserves to their own accounts outside the ...
Exit scams are commonly associated with the rise of cryptocurrency projects due to the lack of regulation and decentralized ecosystem. [ 3 ] The best-known examples are online sellers where the buyer does not know the real identity or physical location of the scammer and therefore has little recourse.
A pig butchering scam (in Chinese sha zhu pan [2] or shazhupan, [3] (Chinese: ĉçŞç), translated as killing pig game) [1] is a type of long-term scam and investment fraud in which the victim is gradually lured into making increasing contributions, usually in the form of cryptocurrency, to a fraudulent cryptocurrency scheme.
The Global Anti-Scam Alliance, or GASA, reports that over $1.03 trillion was lost to scammers in 2024. Scammers almost always have the same goal—to get people's personal information or money.
Marketed as a "play-to-earn cryptocurrency," it garnered immense attention and witnessed a meteoric rise in its price, surging by thousands of percentage points. [ 1 ] The creators of Squid Coin presented it as a revolutionary opportunity for investors to participate in an upcoming fan-made online game inspired by the Netflix series Squid Game ...