November 24, 2022
  • November 24, 2022

Scammers posing as crypto traders: Cybercrime explains…

By on July 20, 2022 0

(MENAFN-EIN Presswire)

bitcoin recovery specialist

These scammers pretend to be legit characters to trick people into believing their lies. They tempt investors by promising high returns.

Scammers usually target new investors who are looking for a quick way to earn high returns. These scammers know what the investor is looking for and therefore lure them in by promising abnormally high returns. — Timothy BensonSOFIA, BULGARIA, July 20, 2022 / — Cryptocurrencies like bitcoin have managed to capture the attention of investors around the world. It has become a hub for investors, investing and making a good profit has never been easier. But, as the saying goes, “every coin has two sides”, just like the world of digital investing, where the other half is filled with scammers who pose a threat to investors.

Many investors, especially newbies new to the world of crypto trading, are looking for a way to make a quick buck and fall for scams where the scammer exploits investors in general.

According to the FTC, crypto scammers have stolen more than $1 billion from 46,000 people since the start of 2021. Most of the reported losses were from fake cryptocurrency investment opportunities, amounting to $575 million of dollars.

Cyber-Forensics.Net, a crypto recovery service provider, notes, “Scammers typically target new investors looking for a quick way to earn high returns. These scammers know what the investor is looking for and therefore lure them in by promising them abnormally high returns. The scammer recognizes that investors trust influential figures, so they impersonate legitimate crypto traders to make them believe and invest.

What is an impostor scam?

Impostor scam is one of the most effective scams among these scams. The scammer poses as a celebrity, businessman, or crypto trader to capture the attention of potential targets and convince them to gain their trust.

A woman met a scammer on a dating site posing as a crypto trader; he convinced her to invest in cryptocurrency and helped her learn how to trade cryptos. At first, his investments seemed to yield positive results. But by the time she realized it was a scam, she had already lost nearly $200,000.

Similar to the case above, another woman fell victim to a scammer she met through a dating app. He pretended to be deeply in love with her. He promised the victim to fulfill his dreams of happiness forever. He posed as a crypto trader, promising that she would make a lot of money trading cryptocurrencies like bitcoin. The victim had sent more than $300,000 worth of bitcoins, trusting the words of the fraudster. But once the scammer got the money, he was nowhere to be found.

Sometimes the scammer even sets up fake exchanges promising them abnormally large returns without risk. They entice investors to give them money. However, once an individual has paid the scammer, they are nowhere to be found, resulting in a significant loss for the investor.

How to recognize such scams?

Whenever an individual senses something fishy is going on, they should follow their instincts and think twice before getting involved. Here are some common points to help an investor spot such fraud:

◉ If someone says an investor will get free money either in case or the cryptocurrency is still fake.
◉ If someone promises a big return on investment without risk, that’s a sure red flag.
◉ Any organization that lacks documents like license or registration is also bogus.

How to avoid an impostor scam?

Timothy Benson, bitcoin recovery expert at Cyber-Forensics, says, “If a person wants to get into cryptocurrency investing, they must first acquire the basic knowledge of how cryptocurrency works. By doing this.
Cyber ​​Forensics also recommends that investors learn about various scams and warning signs before investing.

To avoid such scams, one must be very careful when trusting anything or anyone online.

◉ Do not make quick decisions under pressure from someone and do not send money to an unknown person. It is a scam if someone asks to make a payment by bank transfer, cryptocurrency or gift card.

◉ Scammers offer deals that are too good to be true, promising people big prizes like colossal cash and cars in exchange for an upfront payment. It is a scam if someone asks for a fee to receive compensation.

◉ Do not share personal or financial information with an unknown person. Legitimate businesses don’t ask for someone’s personal information through phone calls, emails, or text messages. If they do, it’s a scam.

Where do I report impostor fraud?

If someone loses their money or cryptocurrency in a scam, they can report the fraud to the following people:

◉ The Federal Trade Commission (FTC).
◉ The Securities and Exchange Commission (SEC).
◉ The Commodity Futures Trading Commission (CFTC).

They may even seek help from a bitcoin recovery company like Cyber-Forensics.Net. They provide services where they help scam victims get their money back from scammers.

How can a fund recovery company help you?

A funds recovery company like Cyber-Forensics.Net is a team of professionals who help the victims to recover their lost funds from the scammer. They have been dealing with such scammers for a long time. These people put their years of knowledge and experience into working to bring justice and lost money to the victim.

About Cyber-Forensics.Net:

Cyber-Forensics.Net is committed to providing the most accurate tracing service for victims of online scams. Cyber-Forensics.Net enables and simplifies the process of tracking down cybercriminals and helps recover funds and create an atmosphere conducive to a negotiated settlement. For more information, please visit .

Peter Thompson
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