Coin Dispute Network Shares Five Common Crypto Scams To Watch Out For
ALTCrypto scams are becoming more rampant as the days go by. It might be hard to apprehend all scammers and ultimately end crypto scams.
The best option for you as a crypto trader is to know the crypto scams to watch out for to avoid falling victim to them.
The Coin Dispute Network has been a leader in the crypto space since 2013. We leverage our deep connections in the blockchain network to recover your lost or stolen funds.
Our dispute and recovery process has been proven to work over the years. They’ve shared common crypto scams with us in an interview to watch out for.
What Are The Common Crypto Scams To Watch Out For?
One of the popular crypto scams is the Investment Scam. These include pump and dump schemes. Pump and Dump schemes involve scammers enticing investors to buy a specific cryptocurrency at a low price.
As more people buy, the price begins to rise. The scammers then sell their investments at a higher value. Thus, causing the price to collapse till you and other investors have no value for your asset.
Another investment scheme is the Ponzi scheme. This investment scheme promises you an unbelievable profit for low investment. This encourages many people to invest in it.
Subsequently, the investments of some are used to pay others. This encourages even more people to invest in it. The scammers will abscond with all the money invested, leaving many at a loss.
Another common crypto scam is the phishing scam. This entails scammers impersonating well-known sites or your bank to try to get your details or wallet key from you.
It mainly occurs via email. Be skeptical of emails asking you to divulge sensitive information.
How Does Coin Dispute Network Recover Stolen Crypto?
Once we receive your report on the amount of crypto stolen and when we will analyse the blockchain to locate your stolen funds before they are withdrawn.
We then monitor the exit points to recover the stolen funds before they are withdrawn. Afterward, we create a formal dispute against the scammers using our deep connection within the blockchain.
How Long Does It Take For Coin Dispute Network To Recover My Stolen Funds?
The amount of time used to recover your funds varies per client. It could take weeks to months, but you can rest assured that the Coin Dispute Network team is experienced and capable of recovering stolen crypto.
How Can You Identify A Crypto Scam?
The profile picture or name spellings of a phishing account are often different. That is an excellent way to identify them. Don’t be in haste to click on an unverified link or give your crypto details to an unknown or unverified individual or organization.
Also, the most common sign to know when you’re about to become the victim of an investment scam is to watch out for a promise of high profit to low risk.
How Can You Keep Your Crypto Safe From Scammers?
Two-factor authentication is one of the best ways to keep your crypto safe. This involves having more than one password or key to access your wallet. Thus, if scammers access one, they still won’t be able to access the crypto.
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