Cryptocurrency scam involves many methods that criminals use to illegally obtain cryptocurrency assets from others. Some of the most common methods include:
- Phishing and impersonation attacks. Attackers may create fake websites or send out fraudulent emails that look like official notifications from popular cryptocurrency exchanges or wallets.
- Fraudulent Initial Coin Offerings (ICOs). Attackers can present fake projects and ICOs that promise investors huge profits. After fundraising, they disappear, leaving investors with empty wallets.
- Pyramid schemes and get-rich-quick schemes. Attackers may offer participation in schemes that promise high profits in a short time. However, such schemes are often pyramid schemes and are doomed to collapse, leaving many people without funds.