Identity fraud bitcoin

Identity fraud bitcoin

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April 7, 2021 by Ranjbar Webmaster
167
In previous articles, we talked a lot about different fraud methods. For example, in an article we published entitled Identify Cryptocurrency Frauds, we explained the two most common fraudsters' procedures to defraud in this area. We have given. But in previous articles, we focused on Ponzi schemes and cloud mining scams. In this article, we will address the issue of fraud with a completely different approach.
Identity fraud bitcoin

 

Digital currencies scammers

The following article is called identity fraud bitcoin, and in this article, we will talk about exchange offices and counterfeit wallets, as well as fake pages and phishing, etc.

We suggest you do not miss this article and until the end of this article. Stay tuned. We hope you find this information helpful in dealing with fraudulent digital currencies that will prevent you from falling into the trap of fraudsters.

As you know, the Antidolos media considers it part of its job to fight any digital currency fraud. For this reason, it makes every effort to fight fraudsters by informing users in this space. You can also make more innovative investments by following our articles and easily detect scams ( Identity fraud bitcoin ).

Counterfeit exchanges and wallets

As we promised, in this section, we are going to deal with a completely different aspect of scams in the world of digital currencies. We hope you have not encountered these scams, but the fact is that the world of digital currencies is full of fraudulent exchanges that come and go overnight.

It would be best if you were very careful about using these exchanges, as they may steal your digital currencies or cash. Sometimes, when you deposit money into your account at an exchange, some of these unreliable exchanges charge you enormous fees or make it very difficult to withdraw money. That is another type of scam in this style.

Some of these exchanges make their platform attractive to novice traders and do not charge any fees as transaction fees. In these cases, you should be skeptical. Why should an exchange office work for you for free?

Digital currencies scammers

Earn money by charging a fee for listing

This is an essential principle in Identity fraud bitcoin. Instead, they earn money by charging a fee for listing any tokens (Including counterfeit ICOs) on their platform. However, they do not generate the necessary trading liquidity for traders to buy and sell tokens freely. These tokens are usually blocked at these exchanges, and traders engage with their “worthless tokens” without being able to sell or cash them.

You may also catch a fake wallet software that uses the name of a good wallet to store your digital currencies. For example, counterfeit software called Ledger Live (the official Ledger Hardware Wallet software) was recently spotted on Google Play. Interestingly, due to sanctions. Many users in developing countries were unable to find the original software after searching for the phrase “Ledger Live” on Google Play. And fake software was displayed instead.

This prevented them from seeing the actual software and relying on the fake software. After digital currency to these wallets, no withdrawals will be made from these wallets. Therefore, to Identity fraud bitcoin, it is better to be very careful.

Identity fraud bitcoin , exchanges and wallets

  • Website of scammers or software called an exchange or wallet and advertise it on social media and chat groups. They mostly use terms like “zero-fee” and “no authentication” to persuade people. These advertising tricks may be very appealing to many users, especially users in countries under sanctions. As a result, they motivate the user enough to be attracted to their scams.
  • When the victim deposits their digital currencies in an exchange office or wallet, it is no longer possible to withdraw them, which means capital theft. This is one of the oldest ways to steal digital currencies like bitcoin.
  • Sometimes scammers even manage to add their counterfeit software to software stores like Google Play. Due to their trust in Google Play, users are deceived and abused by fake applications.

How to identify and avoid counterfeit exchanges and wallets?

  • Advertisements for these exchanges and software are often fake (pop-ups, invalid groups, and channels).
  • Consider things like visits, the number of installs, and user ratings.
  • Consider suspicious and unrealistic changes in trading volume, especially if the exchange has just started.
  • To install valid software, be sure to check the validity of the application link in Google Play from official websites.

Fake and phishing pages

This type of scam needs more attention. It is challenging to detect phishing attacks or fake pages. So in this part of the Identity fraud bitcoin ‘s article, be more careful.

Scammers in this type of attack share a website address that is the same as the original website or a new website that seizes your confidential information and then uses it to hack into other accounts.

Websites that are carefully copied from legal projects, such as exchange offices or Initial coin offerings, are used to steal assets and personal information.

Cloning is the exact copying of a particular website and its application to another website so that at first glance, it is not possible to distinguish between two websites. Always recheck the website’s URL. Bookmark websites that you visit regularly. Cloned websites use letters similar to the original URL to look identical to the original website at first glance.

Identity fraud bitcoin

The method of fraud through phishing attacks

  • Scammers will send you links to a website that is relevant to the topic of the day. For example, one possible trick would be to suggest that you use this link if you have trouble logging in to your Binance exchange account. The website you are referring to using this link is exactly like the Binance Exchange website, but it has nothing to do with it.
  • At the mentioned website, the scammer may ask the user to try a new exchange.

In either case, you either enter or register your user information. This user information is later used to access other user accounts when the websites’ security is not very high. In this case, the person’s account will be compromised.

How to detect and avoid phishing

  • Digital currency phishing scammers often try to use typos in the address of an exchange or web wallet.
  • Scammers sometimes deceive people with the promise of “free bitcoin“.
  • Do not click on links you do not know.
  • Do not trust search engine advertising results; The results displayed to you as advertisements in search engines such as Google can be distinguished from other results. Advertising results that have the word Ad (meaning advertising) next to them are one of the oldest ways to do phishing. For a fee, a phisher can raise a fake page in search engines.
  • At all the websites you visit, check the URL link and use the correct link. Beware of possible changes in certain letters of the website address.
  • Beware of deceptive emails like winning a lottery or something like that.

Fake Support Teams

Another type of phishing and a fraudulent attack occurs when fraudsters claim to be the support team for a specific project. You will be asked for your personal information, deposit, or personal password. One of the critical things we want to tell you about Identity fraud bitcoin is to beware of these fake support teams.

When you have a problem with trading platforms, try to answer your questions from information groups or their managers. These scammers abuse the trust of such users.

Scams with a fake support team

  • The user encounters exchanges such as Binance, Bitbns, Koinex, WazirX, Coindelta, and other platforms.
  • Scammers use similar passwords, identical images, and names as the Telegram Group Manager or exchange logo.
  • Users confuse these people with the exchange support team and trust them.
  • Scammers ask the user to send them bitcoins or Ethereum to “fix the problem”.
  • Users send the required amount of coins in the hope of solving their problem.
  • The scammers run away with this amount and leave no trace of themselves.
  • Sometimes scammers try to get a user account password.

How to detect and avoid fraud by fraudulent support teams

  • When contacting support, proceed only from within the official website of your choice exchange or wallet.
  • Calling support via Telegram or WhatsApp is not a good idea.
  • Beware of messages that are said to be from the support team.
  • The actual support team will not ask for your digital currency or account password.

Free donation of digital currencies on Twitter

One typical example of scams in this area is Bitcoin Giveaway schemes on social media. Scammers create a page with the names and images of celebrities such as Vitalik Buterin, the creator of Ethereum, or Elon Musk. The legendary entrepreneur, and promise to give away free bitcoins, for example, under the most visited posts of these people. They claim that if you send 0.1 bitcoins to their address, you will receive 0.2 bitcoins (double).

It may sound ridiculous, but millions of dollars scammed this way so far, and even at one point, Vitalik Buterin, the creator of Ethereum, renamed his Twitter page to “non-giver of ETH”.

The method of Identity fraud bitcoin through free Crypto donation

  • A celebrity posts a tweet.
  • A fake account with the name and picture of the famous person below his tweet publishes a tweet about “giving free digital currencies to fans”.
  • Several other fake accounts write under this tweet that they have succeeded in receiving digital currency to gain more trust.
  • The person sends the digital currency to the desired address but will never receive anything.
  • Because digital currency transactions are almost anonymous, it won’t be easy to prosecute.

How to avoid and Identity fraud bitcoin and free Crypto donation

  • A celebrity never works this way to donate free digital currency.
  • The name and image of the celebrity can be copied, but the username is unique.
  • Sometimes accounts with a blue tick are activate to deceive more users. Having a blue tick does not mean that a person cannot be a scammer.

Antidolos

The reason for the establishment of Antidolos Media was to fight fraud and secure the blockchain economy. Therefore, you can use the contents of this media to prevent the abuse of fraudsters. But keep in mind that fraudsters are becoming increasingly complex. Nothing can predict them. So be creative, cautious, and trade carefully. Always know that a scammer is planning to defraud you. Thank you for reading Identity fraud bitcoin ‘s article.

 

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