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Sometimes, the most dangerous part about being in a crypto scam is not even realizing it’s a scam in the first place. Criminals go through great lengths to keep you feeling like nothing is wrong, right up until it’s already over. If you or a loved one have suspicions as to whether or not that opportunity is smoke and mirrors, a good way to tell one way or the other is thinking about how it all started. Here’s a list of the most common ways that scammers find their next victim:
It can feel serendipitous to come upon a friendly stranger, but it may not be as random as one would expect. While chance encounters can come in many forms, they are most often executed through social media and dating sites.
“Wrong number” texts share the same spontaneous timing, but usually start as if the conversation were continuing from earlier with the “intended” recipient. When notified that the individual has messaged you by mistake, they will often try to start a new conversation with you under the pretense of it being “meant to be”. From there, the scammer will build as much of a rapport as possible in order to successfully pivot towards investing.
It should be noted that there isn’t always a romantic element to these encounters. While it is the most popular, scammers can also present themselves as a potential friend, mentor, business opportunity, or fellow enthusiast of the things you’re most interested in. They may not pivot to investing in crypto immediately, but they will eventually.
Using social engineering techniques alongside information obtained from data breaches, it’s not too difficult for scammers to find out what accounts and services are important to you. With the help of AI, near perfect recreations of official communications can be sent to unsuspecting victims via email or text. They will often have a call to action with a sense of urgency attached to them. Clicking any links or calling any phone numbers provided in these communications can either redirect you to a live scammer or infect your device with information stealing malware.
Similarly, scammers can impersonate individuals of power and authority to aggressively demand payment under threat of cancellation of critical services, jail time for you, or jail time for a loved one.
Whether it’s within a webpage you’re surfing or an app you use, these notifications will pop up and catch you off guard. They tend to be designed to either entice you with an opportunity or scare you into action. These are particularly sneaky, since they are designed to play on your trust that they are legitimate alerts from the services you are comfortable with using. Much like with “official” communications, they serve to redirect to a live scammer or infect your computer with malware to extract a payment under false pretenses.
A little extra spending money never hurt anyone, but taking the wrong job can have serious consequences. Whether by chance or as a response from an application you submitted online, scammers can reach out with an opportunity too good to refuse. With benefits like simple tasks for a workload, lax deadlines, fast payments, and bonuses, victims get lured in and engaged to earn even more money. However, cracks start to show once you realize that they choose the currency and lock it behind an endless barrage of obstacles to withdraw. Additionally, they often make you pay them first under the guise of proving you are “serious about working” or to “test” that the payment system is working properly. Other reasons can include the fees for onboarding, taxes, or commissions towards the hiring agent.
There is no shortage of ways a scammer can make contact, and even more ways they can explain why this time it’s legitimate. However, they all rely on applying pressure when you least expect it and without the support of those you trust. The easiest way to avoid being a scam victim is to always verify what you’re told. Don’t reply to the message. Don’t stay on the phone. Don’t click on the link. Instead, talk to loved ones about it to hear their opinion. Reach out to the company/entity directly using official and publicly listed contact information. Knowledge is power, and through it you can stay safe and out of their reach.
