Crypto giveaways scams are rising, targeting English and Spanish-speaking investors

Crypto giveaways scams are rising, targeting English and Spanish-speaking investors

Even though many people lost their things to crypto giveaway scams in 2021, these con artists won’t stop breaking the law in 2022. According to the data, almost 2,000 sites were registered in the first half of this year. They serve as welcome pages for scam broadcasts on YouTube.

About 63% of over 2,000 fake domain names were registered through Russian registrars. But the people they want are crypto investors in the US and other English- and Spanish-speaking countries.  Brad Garlinghouse, Elon Musk, and Michael Saylor, the chairman of MicroStrategy, are some of the names that come up. BitAlpha AI  the best trading bot accessible, allows users to make cryptocurrency investments.

They also trick investors by telling them that the value of their cryptocurrency investments could double. In the clip, someone asked for a Bitcoin transfer to be sent to several different addresses. It also asked investors to share the seed phrase for their cryptocurrency wallets to make better terms.

Most people who try to steal cryptocurrency do so by getting people to watch fake YouTube videos about giving away cryptocurrency. Around 10,000 to 20,000 people watch fake feeds on average. After taking over YouTube profiles with thousands of subscribers, they start doing bad things. They make it look like the account is confirmed by taking down older videos from the YouTube profile that goes with it.

53 times as many fake domains are used in scams to give away cryptocurrency.

Since H1 2021, the number of fake domains has increased by a factor of 53, which means that the number of fake domains has increased by 5X. Researchers found 583 fake websites linked to schemes to give away cryptocurrency in the first three months of 2022. During the second quarter, they found 1,500 more fake sites. Group-IB analyzed the top five domain zones that scam websites use to promote giveaway schemes for cryptocurrency. These are domain (31.65%), domain (23.86%), domain (22.94%), and domain (5.89%).

A place where fake transactions of cryptocurrency can happen

Crypto stream design is by far the most sought-after service. The price could be anywhere from $100 to $300, depending on how hard the job is. A fake video with a famous person that looks real will cost you about $30 to make.

Fake promotion websites are another service that people want a lot. These sites aim to show people how a fake giveaway works. The cost of a landing page can range from $200 to $600, depending on how well the design fits with the website’s overall goal.

The price of most manuals starts at one hundred dollars. In some cases, the fee is both a set amount and a particular share of the total profits. There are also deals where you can buy both the manuals and the training for a price that is a percentage of the money that was stolen. Con artists can also buy toolkits to make it easier for them to commit fraud. A monthly subscription to an advanced toolkit could cost anywhere from $500 to $1,500, depending on what’s in it.

Users are told to be careful with free offers and not to give out personal information on websites that might be fake. Ensure you only use official sources to check if the streams and sites you visit are real. If you can’t find any information about the promotion, you’re likely being tricked. It’s essential to keep the seed phrases secret and safe. Use tools that help you keep track of passwords to do this.

Focus more on desktop solutions instead of cloud-based ones to reduce the chance of losing data. If you have already given cryptocurrency to scammers and now want your money back, you risk being scammed again. Scammers often pretend to be online forum users who want to help their victims by sending them messages.

Risk Management in Online Cryptocurrency Trading

Risk Management in Online Cryptocurrency Trading

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