Fraud in the cryptocurrency market

Cryptorok is a sphere of great opportunities for investors. Even beginning traders without deep knowledge and understanding of the exchange can start earning money here. But even in this market, fraudsters have already appeared. After reviewing the main types of fraud, you can protect yourself from financial losses.

On crypto-market there are the following schemes of deception:

  • Airdrops as bait;
  • fake academic administrator records;
  • sites with CPU mining;
  • the fact of sending suspicious files;
  • ICOs that do not exist;
  • promises to use cloud mining;
  • Honeypotting bait.

To avoid cooperation with fraudsters, adhere to safety rules. Use two-phase authentication, SMS confirmation and trade passwords. Try to protect yourself from a technical point of view.

Before you start working with a new broker, check the honesty of his intentions. See customer reviews, make sure you have the appropriate license. Avoid companies that promise the “golden mountains”. Remember that even when working with honest brokers, big profits are always associated with serious risks.

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