Some believe that the cryptocurrency is a bubble that might burst anytime, while others do not. But an investment scheme that promises massive returns attracts the interest of a lot of people. Cybercrooks leverage this to convince people to invest in fraudulent schemes and swindle money.
How does the cryptocoin scam work?
Fraudsters promise a new cryptocurrency that people can invest in from the start. This pitch is in the form of an Initial Coin Offering (ICO).
What can you do?
Probably the most important rule for staying safe from scams like these is ‘If it’s too good to be true, it probably is’.
In the current cryptocurrency market, it’s essential that you must research every aspect of the scheme before investing money into it. Take your time to research before going forward with any crypto scheme.
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