When something is hot, the only guarantee is that fraudsters must sit like a search-head missile. The Bitcoin Virtual Currency is no exception.
For those in the network life, Bitcoin digital currency. Its value has not been taken care of by a government or central bank, is determined by software that few people really understand.
Because few people know how Bitcoin really works, there were endless possibilities for chicaneries. Social media has provided fertile ground for many frauds.
Of course, those who want to speculate on Bitcoin want to believe that the value of the currency will only increase in value, but that is not the case. The currency is very volatile and understands why.
According to a recent Zerofox report, a digital security business venture, there is a significant dark side to Bitcoin. Here are some ways to find scams:
Bitcoin is often used as “bait” to download nasty software that will destroy your computer. According to Zerofox:
“Fake Bitcoin wallets hide malware downloads: luring users to click on the URLs that are posted on social media, is a technique ZeroFOX has experienced a series of attacks.
It uses the promise of Bitcoin to attract the user to follow a URL that then tries to download an application loaded with malicious software. We also discovered that fake Bitcoin surveys are often used to propagate malware and advise us cautiously when you encounter a shortened URL of social media secured or not by an HTTPS connection. ”
Bitcoin phishing Impersonators.
“Impersonators run hard social media, and imitating the brand itself Bitcoin is a tactic that can be used to gain the trust and credibility of the victim.
A phishing site provides a search service allows users to enter their own Bitcoin key to see if they exist in their database. Once entered, just remove the private key, so the fraudster can edit directly into the pockets of the curious Bitcoin owner. ”
“This scam can offer to exchange Bitcoins for money immediately after paying an initial start up tip or a promise to double your initial investment.
The other end of the matter is never lifted and Bitcoins stolen immediately. Scammers succeed because they can spread their scam to unconscious objective thousands via social media. ‘
Bitcoin pyramidal systems.
These scams are hard to recognize as the examples of Bitcoin’s more blatant reversal described above, but the end result is the same; the scammer finally made off with Bitcoins stolen from the victim.
This idea is based on proven high-yield investment programs and multi-level marketing. In these ethical gray patterns a low initial investment can be multiplied by signing new members with reference links. Should have been hundreds of victims are dealt with in the regulation. Later, the original crook gets away and the pyramid collapses. ‘
How to protect yourself
As any quick master plans are Bitcoin scams develop on the credulity of its victims. Simply because it means digital currency, this does not mean you can quickly acquire wealth. Here are some more warnings Zerofox:
- Do not trust anyone who claims they will help or help you or my bitcoin. Again, Crypto currency enjoyed by cybercriminals for a reason, and the courageous behavior associated with Bitcoin runs social media and digital channels.
- Avoid URLs that are associated with social media profiles also offer cheap co-providers.
- Be vigilant when you are brokers or trading platforms at legitimate Bitcoin social media accounts, as they are often victims of convincing personifications.
- Never make a financial transaction, Bitcoin or other, via a direct message on social networks.
If you are already assigned, report the crime to the FBI Internet Crime Center, but do not expect that you can see your Bitcoins again.