Will the pandemic result in more crypto scams?

[Francis17]

Cryptocurrency scams are now a popular way for scammers to trick people into sending money.Once you do, your money is gone, and there's generally no way to get it back. So if you see a tweet (or a text, email, or other message on social media) that tells you to pay with Bitcoin, you know that's a scam.

 

[Abigael]

I remember last year in April when the Lockdown had been made a policy in many countries. During that period, we saw an increase in HYIP sites that were going scam really quickly. I also noticed an increase in news about hacking and cyber crimes sorrounding bitcoin stealing and even kidnappers asking for bitcoin ransoms. So yes, I think that the pandemic lead to more crypto scams.

 

[Ehizzy1]

There are some articles that I have seen that actually ask the users to declare their crypto profits in order to be able to pay taxes on these and these tax rates can be up to 37% which is a very high value. I think that the only way exchanges and governments can actually enforce those are potentially through the KYC verification procedures.

I really dont like that type of crypto tax because what if they say the person should also pay tax for the crypto loss too , because many might have lose a lot before they could even start making profit from crypto currency trading , atleast they could tax when you buy and sell cryptocurrency , i think that one is pretty cool and normal

 

[Pear]

Lots of peoplebplayed fool in the hands of these scammers promising to give tons of coin which they end up not getting

 

[BrolySSJ]

Lots of peoplebplayed fool in the hands of these scammers promising to give tons of coin which they end up not getting

People tend to take advantage of the vulnerability that someone else has in order to try and gain profit for themselves. The rule of thumb is that if something sounds too good to be true then it generally is.

 

[Sincerem]

Scamming activities around Cryptocurrency is high even before the covid19 surge. But during this unprecedented time of covid19 more ways of scams have emanated in the world of digital coins. Scammers are looking for ways of making more money to stay happy in this covid19 era, that's why we ought to be careful when dealing online.

 

[Niftyyem]

With the covid 19 pandemic there are many that are in lockdown and there are many more that do not have jobs as well. AS such there are people that are desperate for their earnings and in this way they are quite vulnerable. As with vulnerability there is always those that are willing to take advantage of people and this is where the scammers come in. I feel that during this time scammer may choose to take advantage of this vulnerability and as such there will be a rise in the crypto scams that we see online? Do you concur?

I implore all members to be careful on the online earning strategies and to do the necessary research before you invest in any online method. Also as a rule of thumb, if it sounds to good to be true, then it likely is. I wish you all the best and stay safe from online scammer. To beat them we need to stop falling victim to their scams.

It is paiñful to see people who sweat so hard for the little they are able to get online being scammed of it for any reason at all. There is need to take extra care always when dealing online.

 

[joy101]

We all know that there are scammers everywhere but one need to be very careful when it come to online investment, because even without pandemic online business is where scammers are.

 

[Senator]

You got to understand this that pandemic or no pandemic has nothing to do with the increase in the occurrence of cryptocurrency scams. Scams has existed long before the advent of pandemic, so it has nothing to do with it's increase or decrease

 

[ahmedo24]

You got to understand this that pandemic or no pandemic has nothing to do with the increase in the occurrence of cryptocurrency scams. Scams has existed long before the advent of pandemic, so it has nothing to do with it's increase or decrease

To an extent the pandemic had influence on the rate of cryptocurrency scam because lots of people lost their job and the next day could do was to use their intelligence to scam people with fake cryptocurrency projects and launching of fake coins.

 

[Damscooguns73]

Concerning if the pandemic will result in more crypto currency scams. Well, there is no doubt about that, it is most likely that the rate of scam in the crypto currency market might increase that it usuals. We need to be careful as there are many developed scheme now to scam people

 

[Setfragil]

The pandemic is not really the reason for cryptocurrencies scams, it is just that many people will always be greedy no matter their financial status. The scam is even worst in my country where banks and financial institutions have been banned in participating in cryptocurrencies investments. We are left with p2p trading.

 

[Nomad]

I am not much about the scams during the pandemic, but I think crypto scams have been in rise since a couple of times. Sometime bck I read news on a certain business magazine that said many Brits lose millions of pounds in crypot scam

 

[Da ma]

Obviously there are many legit site that are into crypto currency.

 

[Kelly5]

Before the pandemic, online scams have been on the rise. So, pandemic or not pandemic, it has no relationship with the online scams that has been happening

 

[BrolySSJ]

I am not much about the scams during the pandemic, but I think crypto scams have been in rise since a couple of times. Sometime bck I read news on a certain business magazine that said many Brits lose millions of pounds in crypot scam

I think that the concerned with people losing so much money and cryptocurrency scams is the fact that there is no way to actually ascertain which one's of the sites are actually legitimate and which ones are not and sometimes a site that could seem legitimate or that is paying out its users could in fact turn into a scam site.

 

[skyliequiz]

According to the report, the epidemic may cause certain economies and real-world currencies to crash, making Bitcoin theft "far more appealing." “Because Bitcoin is the most popular cryptocurrency, we should expect increased fraud, mostly targeting BTC.

 

[BrolySSJ]

According to the report, the epidemic may cause certain economies and real-world currencies to crash, making Bitcoin theft "far more appealing." “Because Bitcoin is the most popular cryptocurrency, we should expect increased fraud, mostly targeting BTC.

I don't think that it was specific to bitcoin only because any other cryptocurrency that they are able to obtain illegally from people can be converted into bitcoin if necessary to a cryptocurrency exchange. So I think we should be on high alert for all cryptocurrencies scams and not just those that are related to Bitcoin.

 

[Aaron625]

Yes , thats true, pandemic has let scammers to increase in number and the number of scam crypto investment sites are also increasing. But good news is people are now aware of those scams and the situation now is much better than it used to be when lot of them were investing in HYIPs and losing money.

 

[Chibson]

There have been a lot of cryptocurrency scam before the pandemic and there will continue to be after the pandemic, people need to be careful.