Crypto hacks and exploits have cost people billions of dollars each year. Crypto is no exception. In fact, crypto is a prime target for scammers who take advantage of the nascent technology and the general public’s lack of familiarity with blockchain tools to position themselves as experts or leaders in the space and gain trust. If there’s money to be had, con artists will try and take it from you. Here’s how to make sure you’re not among them. Even though in 2022 crypto underwent a dramatic downturn, crypto scams were on the rise.

A good habit to prevent going to malicious websites is to bookmark any legitimate sites you use for crypto and use only those bookmarks to visit those sites. Find out more about common bitcoin scams. Many people new to crypto are finding their way to the space through non-fungible tokens (NFT), whether through collectible sites such as NBA Top Shot, buying a colorful avatar for social media or via an NFT that also serves as a ticket for an event.

Making sure the sites they are linking to are legit.

Of all cryptos it is the one with the most name recognition. The hacker often impersonates a legitimate-sounding service, company or individual in an email or text message and tries to trick victims into revealing their private keys or fool them into sending their bitcoin to the con artist’s wallet. The broadest adoption – even traditional finance firms such as Fidelity have bitcoin as part of their offerings! Because of this, bitcoin feels “safe” to many new investors and is often the entry point to crypto. Making sure the sites they are linking to are legit. Avoid getting tricked by checking any sender’s email address. One of the most common scams to target your bitcoin is a phishing scam.

Sometimes called “digital collectibles” by big brands including Starbucks and Instagram, there are plenty of scammers who target both newbies and old pros in the space. One scam unique to the NFT space involves forgeries and fakes. When an NFT project, for example Bored Ape Yacht Club, begins to rise in value, scammers will target people looking to “ape” in by creating copycat collections, sometimes stealing the original art and cloning entire projects to mimic the real, valuable one. If you loved this posting and you would like to acquire much more facts concerning Debbie Wasserman Schultz kindly stop by our own page.