Cryptocurrency fraud

Cryptocurrencies such as Bitcoin, Ethereum and others are digital money that is bought and sold using a secure technology called blockchain. They are popular because they offer the opportunity to earn money by making transactions.

But you should be careful, because there are many fake websites and mobile apps that try to scam you.

Before using or investing in cryptocurrencies, you need to know how they differ from cash and other payment methods and how to detect cryptocurrency scams or cryptocurrency accounts that may be compromised.

What is a Cryptocurrency?

Cryptocurrency, also called virtual currency, is a type of digital currency that exists only electronically. Generally, to buy a cryptocurrency you use your phone, computer or a cryptocurrency ATM. The best known cryptocurrencies are Bitcoin and Ether, but there are several different brands, and new cryptocurrencies are being created all the time.

People use cryptocurrencies for many reasons, to make quick payments, to avoid transaction fees charged by traditional banks, or because they offer some anonymity. Other people may acquire and hold cryptocurrencies as an investment, in the hope that it will increase in value.

How to avoid
cryptocurrency scams

Scammers are always looking for ways to steal money from you using cryptocurrencies. Here are some things to know to dodge a cryptocurrency scam.

Only scammers demand cryptocurrency payments. No legitimately operating business is going to require you to send cryptocurrencies up front, either to buy something or to protect your money. That is always a scam.
Only scammers will guarantee you profits or high returns. Do not trust people who promise you that you can make money quickly and easily on the cryptocurrency market.
Never mix online dating with investment advice. If you meet a person on a dating site or app, and then they want to teach you how to invest in cryptocurrencies, or ask you to send them cryptocurrencies, it's a scam.

Bitcoin scam

Bitcoin is a decentralized cryptocurrency that works through blockchain technology. It is used as a digital medium of exchange and can be stored in a virtual wallet.

In case you become a victim of scams related to Bitcoin or other cryptocurrencies, you can seek legal advice and help from our team of experts. They will provide you with the necessary assistance to resolve your situation.