New cryptocurrency scams flooding the web and social media

While a large number of people are making a lot of money with cryptocurrencies lately, there is no denying that a significant number of people have also invested money and been scammed, and in most cases lost their savings just for making a simple mistake.

Among the several reported cases is that of a 69-year-old man who, in addition to several serious health problems, also had to fight the latest scam he had suffered. He says that one day he was on Facebook and an ad appeared on the platform.

The commercial he saw was about cryptocurrencies and featured a celebrity promoting this investment. And for him, this publicity completely destroyed his life. As soon as he clicked, he started seeing a lot of information about cryptocurrencies and earning opportunities. This has undoubtedly enchanted him and he thought it was a good idea to invest some money in these cryptocurrencies because if the promotion was done by a celebrity, nothing could go wrong.

For this victim, the idea of ​​being scammed never really existed. Until it got more serious and he lost about $350,000 which is his lifelong savings.

Social networks are the channel for cryptocurrency scams

As in the previous case, and in many others that we have talked about, we always find that there is a common point, which is social networks. For many scammers, social networks have become the perfect channel to contact people from all over the world. With just one click, they can connect with people everywhere and successfully scam them.

This is also the case with a man from Melbourne who claims to have lost $12,000. It all started one day when he saw a cryptocurrency investment advertisement on Instagram. The ad was like any other on the platform so he decided to click on it.

The victim claims that after clicking the ad, he received calls on his phone from several people, who convinced him to invest in cryptocurrencies, and so decided to join Blue Royal, an apparent investment company that would learn how to make money with cryptocurrencies.

To teach him, the victim created an account on his computer and suddenly lost control of the device. The crooks, using a remote access program, took over the victim’s computer and managed to steal all his money while he stared at the screen.

The victim claims that everything happened too fast and that the cursor started moving erratically on the screen. He then realized something was wrong and had a panic attack. He then decided to turn off the computer and disconnect from the Internet, but unfortunately it was too late.

And you might think that these two cases are coincidental, but the truth is that they are not, there is one thing in common and that is the social network. Years ago, scammers relied on other transfers, but today cryptocurrencies allow them to do it anonymously.

This is the case of a third victim, who lives in Sydney. This was a slightly different situation, where the victim received a call from someone claiming to be his bank. During the conversation, the scammer provides specific details about his account, transactions, and other information that gives the victim confidence.

When the scammer had already gained the victim’s trust, he decided to ask him to transfer $5,000 through Binance, which was intended for investment. After the transfer, the scammers showed him several charts showing that his investment had multiplied significantly, so he decided to hand over the money.

He put so much money into it that when he wanted to withdraw $300,000, the attitude of the scammers changed and he realized it was a scam. The victim just lost about $333,000, which put him in a rather dire financial situation.

“Cryptocurrencies are an emerging threat”.

In the words of AFP’s Cyber ​​Command Deputy Commissioner, cryptocurrencies are an emerging threat. For this entity, cryptocurrencies are a money laundering tool. She claims that many criminals use these resources for various types of criminal activities and that social networks help them do so.

Therefore, she is warning everyone to be much more vigilant about their use of cryptocurrencies. Before investing in this type of asset, they should be aware of the risks associated with it. It is therefore important to do research before investing any money.

It is also not recommended to trust people you meet on social networks, cryptocurrency investment ads or mysterious phone calls from banks. If your bank has called you, it’s best to end the call and contact the bank’s official number to make sure it’s not a scam.

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