Hundreds of scams happen every year: investors lose their money on shady ICOs and fake tokens, crypto novices get themselves into Ponzi schemes, crypto holders have their funds stolen on exchanges and from online wallets. In 2019 alone scammers stole over $4.26 billion from crypto holders! Sometimes it seems inevitable – if you own digital coins, you’ll get scammed sooner or later. Well, we think it’s not necessarily true.
One can educate themselves about different types of cryptocurrency scams and avoid falling victim to fraud. Knowledge on the matter will help you detect a sham before it’s too late, protect yourself from the con men, and perhaps even contribute to their apprehension. So, how do you spot a crypto scam? Let’s dive into the murky world of crypto fraud and take a look at ten signs of suspicious financial ventures.