Crypto Trust-Trading Scams And How to Avoid Them

Among crypto scams, trust-trading is one of the most common ways. This is how it works:

If you give me one bitcoin, I’ll give you 10 bitcoins in return

These trust trading scams are obviously false because nobody is going to send back 10 bitcoins if you send them one but they make these scams really believable by impersonating brands that are well known in the cryptocurrency space.

Similarly, scammers impersonate a lot of celebrities that are involved in crypto as well one of the top ways that people lose their crypto is through the twitter scams that we see these days where it says send me 0.5 bitcoin and you’ll get 5 back those are never legitimate.

We’ve never heard of one legitimate send crypto here and get crypto back that’s ever gone down. And what’s really sneaky about it though is that they’ll have a link where they claim that you can see all of these transactions in real time and they’ll have a bunch of fake accounts claiming to have done this and it worked for them.

If you want to make sure that those are legit you can look up those transactions on a block explorer or even monitor the website and see that it’s just a loop of fake transactions and then look at those accounts see that they’re all bots and if something looks too good to be true, then it probably is.

Follow The PepeJam to read more or Write for Us if you have a story to tell.