Scam

Scam can be translated as “fraud”. There are various scamming approaches that fraudsters use to try to swindle investors out of their money or cryptocurrencies such as Bitcoin. In some cases, it is not just about the direct loss. Some scammers even ask victims to make repeated payments at a later time by, for example, threatening to publish personal data as a means of pressure. Scams are not a phenomenon of the crypto sector, but are widespread in many areas of life.

Protect Yourself from Scams

To protect themselves from scams, it is important for crypto users not to publicly comment on their holdings of coins and tokens. Whenever particularly high returns are involved, users should be especially careful, as most such cases involve scam projects.