Last year, thousands of people and crypto firms faced a lot of crypto scams and thefts. As the study reveals, crime happened in the digital world with the amount of approximately $ 7.7 billion. 2021 was the witness the highest crimes and scams involved with cryptocurrency. Whatever steps were taken by the crypto industry to protect their users from scams and thefts are not sufficient. That is the hackers take advantage of the loose point of the exchange platforms to seize their digital assets. Lack of precautions and other factors lead to big crimes and scams in the crypto industry. Although several small and big scams have occurred with crypto users, there are still some infamous scams in 2023. So, if you are planning to trade or mine Bitcoin, then you may visit https://bit-trader.io/
Widely spread crypto scams all over the world
Scam of AirBit Club
The widely discussed case in Latin America was about investment systems along with fraudulent cryptocurrency. This reveals this year after the scam happened and it was discovered how the scams were operated. Videos were uploaded on the YouTube website and after observing the contents of the video, it was founded in 2015 by criminal organizations to manages hance their customer base for its business. It was first advertised as a platform for cryptocurrency trading, marketing networks, etc.
Scan of DeFi100
DeFi100 is a unique crypto project from India where an almost 235 million rupees scam happened as per the report generated by police. Although the project managers refused to circulate the reports around social media. DeFi100 stated that the website was hacked and alleged by the message was posted by the hackers. During that incident, Indian currency was not as popular in the country. Assumption of the robbery arose from a tweeted statement by crypto lover Mr. Whale who warned users about the offense. As the US FBI claimed that over the previous 14 months, the industry had received over 1 million complaints about investment fraud and internet scams, information about the Defi100 scam was briefly spread.
Scam of Finiko
Just like a classic Ponzi scheme, a Russian company was operated by a person named Kirill Doronin during the period between 2019 to July of the same year. When the investors came to know that their accounts had been hacked and all their funds were blocked. Thereafter their fraudulent projects came into the limelight. However, with the efforts made by FIniko, he approached thousands of investors to invest in their projects such as Bitcoin and Tether. As per the practice of fraudulent companies, they attract investors with high amount returns of up to 30℅ before pulling the rug and getting their confidence by targeting them to provide exciting funds. It can be seen clearly how many people were scammed by Finiko because part of the raised money was used to pay the initial payment of their investment to Russians and Ukrainians
Conclusion
Despite there being so many hacking instances, two things are clear from all the incidents of theft and scam happening in the crypto industry. Although there is a lot of indisputable susceptibility across the crypto exchange security system, and a lack of precautions while investors invest their money in the project. Hence to avoid these unfortunate incidents, you have to pay more attention to avoid the victim from further falling into the trap of unwanted souls. It is because the bad souls will continue to trap the people and it can only be avoidable when you choose a crypto exchange with strict and regularly investigated protocols. People should not go towards the cheaper and unnatural offers made by the companies and they should keep a regular eye watch on their crypto account.
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