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Cryptocurrency scam – how to recognize a scam in 2023? – ₿magazine

“Guarantee” of significant income

All financial markets have risks, including the largest and most regulated ones such as stocks, commodities, etc. This is why all online brokers, money managers and hedge funds never guarantee returns. Remember Bernie Madoff, who guaranteed a 10% annual return!

Therefore, you should be very suspicious of any crypto project that claims to guarantee a return on investment in their platform.

This is especially prevalent in DeFi protocols, which sometimes boast triple-digit returns.

However, studies conducted by cybersecurity and data privacy experts on privacy issues found 188,000 cases carpet hoodies on BNB network and Ethereum in 2022.

Requests for personal data

The owner of the wallet private key has full control over the cryptocurrencies associated with the address. This is why you should never, for any reason, share your private key with anyone. Legitimate companies will not ask you for this information.

Also beware of phishing sites. These are platforms similar to popular cryptocurrency sites like Binance, where you may be asked to enter your cryptocurrency wallet details. Be very suspicious and always check the platform URL. For example, instead of Binance.com, you might come across Binance.com.

Read also Bitcoin or Ethereum? ETH will cut emissions by 99%

Free Offers

You may receive an email in which the scammer promises, for example, free bitcoins on the condition that you “verify your identity”. Again, remember not to reveal too much personal information in case it could be used to compromise your account.

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