Are you thinking of investing in cryptocurrency? If yes, then arm yourself with the following information so you don't fall a victim to scammers.
With the advent of cryptocurrency, open doors have been created for crooks and con artists to trick people and get away with their money.
This is because the world of digital currency allows for two parties to carry out transactions without revealing their identity. Millions of dollars have been lost on blockchain through fraudulent activities of con-artists .
As usual, they do this by promising you a huge return of investment that is “too good to be true”. Nowadays, they are using a new trick to back up the old pattern, so they can easily win their victim’s hearts.
Now, this recent trick, which is on a rampage on some social media apps such as Facebook and YouTube, is well thought out to convince vulnerable small-scale crypto investors.
I have personally followed up with some of these scammers only to discover their trickery. This kind of scam psychologically leverages on the fact that people are most likely to believe the testimony of more than two people.
Most of these crooks are mostly active on Facebook and YouTube comment sections. This does not mean that you can’t find them on other social media apps. On Facebook, they are mostly in “How to make money online” groups. They usually look for any post in the group or outside the group that talk about crypto or stock investments. Then they will pose as genuine crypto traders and promise their victims huge returns. Imagine someone asking you to invest $50 to get $1500 within two days! Yeah, unbelievable right? One question I always ask myself when tempted to consider such investment scam is, " why would someone who makes such return from investment want to tell the world?".
Using multiple Facebook accounts that they have created, they will comment on their post or reply to their comments using phony words to convince you into investing.
The fake testimonials will convince some vulnerable people into clicking a link that takes them to a telegram where they are scammed anonymously. On Facebook, their post usually look something like this:
On YouTube, the scamming technique is the same thing but more convincing. They usually post a comment under a youtube video talking about stocks or crypto. The comment is then followed by multiple replies trying to convince people to believe it. It usually looks somewhat like this:
The screenshot above shows the replies to the comment above. If you take a careful look at it you will notice that replies came in the same time and day.
This is most likely one con artist with multiple YouTube accounts. They usually post a comment pretending to be seeking for investment advice.
Thereafter, they will immediately reply to their comments with convincing replies to lure people into contacting the so-called “professional broker”. A screenshot of the continuation of the reply below shows where one of the repliers eventually gave out the contact of a so-called professional broker.
If anyone is referring you to someone that will transform your life financially, don’t accept or click the link. There is no easy money anywhere. We all have to work our butt to earn money. Think twice before you invest your money into any venture online.
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