![]() ![]() It is only by cleaning up the cryptocurrency industry of these scams that the blockchain space can reach more mainstream adoption. Therefore, it is always good to report such scams so they cannot harm more people. Users who are veterans in the cryptocurrency space already know this but those new to the industry may not. In short, if a cryptocurrency deal is ‘too good to be true,’ it almost often is. Often, they feature a recycled video of a major cryptocurrency figure and a request to send funds to a certain address while promising returns. One persistent scam which continues on YouTube is ‘live YouTube giveaways.’ These videos disguise themselves as official but are in reality just a way to extort users. As BeInCrypto reported, one 75-year old in the United Kingdom was scammed out of her entire life savings. Ponzi schemes promising returns still run rampant in the space. With Cash App’s Lightning Network, you can send bitcoin to any wallet globally without fees. Buy bitcoin instantly in any amountas little as 1. Other scamming attempts, however, are far more malicious. Cash App is the easy way to buy, sell, send, and receive the world’s leading cryptocurrency. Scams Run Rampant Scams continue to cause a headache for those of us in the cryptocurrency space, so users should always be on alert.Ī recent method was uncovered where scammers threatened entire families with coronavirus if they failed to provide ransom in BTC. Altogether, the study finds, these accelerators have stolen some 15 BTC so far from users, which comes out to around $100,000 at the time of writing. Other scams include “Bitcoin transaction accelerators,” which have used a similar tactic. For example, you send coins from your personal wallet to your exchange wallet. It can easily be done in most Bitcoin wallets, so this risk can easily be avoided. This property of Bitcoin allows people to link wallets with real-world identities. There is no reason for users to rely on third-party sites to create QR codes. Generate a QR code to receive payments There are three kinds of QR codes you can generate to receive payments. Thus far, they have stolen around $45,000 worth of BTC during the month of March. However, the fake QR codes generated actually end up enriching the websites and are a hoax. These sites create QR codes for users with Bitcoin addresses. QR codes remain a popular way to transact BTC, but some security researchers are sounding the alarms and telling users to be cautious.Īccording to findings uncovered by security researcher Harry Denley, nine websites have been exploring QR codes to steal funds. A recently uncovered QR code method stole some $45,000 from individuals during the month of March. Security researchers have uncovered nine websites that are using malicious QR codes to scam users of their BTC.Īmid the current chaotic global situation, hackers are inventing new ways to steal BTC from users.
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