Although a large number of people are making a lot of money with cryptocurrencies lately, it is undeniable that a large number of people have also invested their money and been deceived, in most cases losing their savings, just by making a simple mistake.
Among the various cases reported was that of a 69-year-old man who, in addition to suffering from various serious health issues, also had to fight his latest scam. He says that one day he was on Facebook and an ad appeared on the platform.
The commercial he saw was about cryptocurrencies and a celebrity appeared promoting this investment. And for him, this propaganda completely destroyed his life. As soon as he clicked, he started seeing a lot of information about cryptocurrencies and earning opportunities. This undoubtedly stunned him and he thought it was a good idea to invest some money in these cryptocurrencies because if a celebrity promoted, nothing would go wrong.
For this victim, the idea of deception did not actually exist. Until things got more serious and he lost about $350,000, his life savings.
Social networks are the channel for cryptocurrency scams
As in the previous case, and in many others that we have talked about, we always find that there is a common point, which is social networks. For many scammers, social networks have become the perfect channel to connect with people from all over the world. With just one click, they can establish connection with people from anywhere and successfully deceive them.
This is the case of a Melbourne man who claims to have lost $12,000. It all started one day when he saw a cryptocurrency investment ad on Instagram. The ad was like any other ad on the platform, so he decided to click on it.
The victim claims that after clicking on the ad, he started receiving calls on his phone from different people, who persuaded him to invest in cryptocurrency, and thus decided to join Blue Royal, an investment company apparently that would teach him how to make money with cryptocurrency.
In order to educate him, the victim created an account on his computer and suddenly lost control of the device. The scammers, using remote access software, took control of the victim’s computer and were able to steal all of his money while he was staring at the screen.
The victim claims that everything happened very quickly and the cursor began to move intermittently on the screen. Then he realized something was wrong and had a panic attack. Then he decided to turn off the computer and disconnect the Internet, but unfortunately it was too late.
And you might think that these two cases are coincidences, but the truth is that they are not, one thing in common is the social network. Years ago, scammers relied on transfers made in other ways, but today, cryptocurrency gives them the ability to do so anonymously.
This is the case of a third victim, who lives in Sydney. This was a slightly different situation, as the victim received a call from someone claiming to be his bank. During the call, the fraudster provides specific details about his account, his transactions, and other information that gives the victim confidence.
When the scammer had already gained the victim’s trust, he decided to ask him to transfer $5,000 via Binance, which was intended for investment. After the transfer, the scammers showed him various graphs indicating that his investment had doubled exponentially, so he decided to hand over the money.
He put in so much money that when he wanted to withdraw $300,000, the scammers’ attitude changed and he realized that it was a scam. The victim thus lost about $333,000, which put him in a rather precarious financial position.
Cryptocurrency is an emerging threat.
In the words of the Deputy Commissioner for Cyber Command at AFP, cryptocurrencies are an emerging threat. For this entity, cryptocurrencies are a tool for money laundering. It claims that many criminals use these resources for various types of criminal activities and that social networks help them.
That is why I warned everyone to be more vigilant about their use of cryptocurrencies. Before investing in this type of asset, they should be aware of the risks involved. So it is important to do research before investing money.
It is also not recommended to trust people you meet on social networks, ads for cryptocurrency investments, or mysterious calls from banks. If your bank calls you, it is better to hang up and call the official number of the bank to verify that it is not a scam.
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