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Hire Bitcoin Bounty Hunters - What Are Some Common Cryptocurrency Scams

In the U.S., almost 7,000 individuals lost upwards of $80 million in crypto frauds from October 2020 through March 2021. According to the Federal Trade Commission (FTC), established on fraud notices filed in the U.S. Thatu2019s a huge hop over the 570 cryptocurrency acquisition frauds and $7.5 million in failures during similar months just the year before. Hire Bitcoin Bounty Hunters to know more details.

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Hire Bitcoin Bounty Hunters - What Are Some Common Cryptocurrency Scams

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  1. Hire Bitcoin Bounty Hunters - What Are Some Common Cryptocurrency Scams?

  2. Hire Bitcoin Bounty Hunters - • In the U.S., almost 7,000 individuals lost upwards of $80 million in crypto frauds from October 2020 through March 2021. According to the Federal Trade Commission (FTC), established on fraud notices filed in the U.S. That’s a huge hop over the 570 cryptocurrency acquisition frauds and $7.5 million in failures during similar months just the year before. Hire Bitcoin Bounty Hunters to know more details. With cryptocurrency frauds on the rise, here are some patterns to look out for:

  3. Demanding Crypto-Only Payments If a seemingly credible individual or retail establishment claims they cannot receive any form of currency other than Bitcoin or Ethereum it’s likely a fraud. Bitcoin and other altcoins are a burgeoning acquisition type, so professionals say believable institutions aren’t going to receive crypto and not also accept U.S. dollars via regular means like wire transfers, checks, credit, and debit card payments, and money.

  4. Digital Collectibles and Games As we witnessed with the “Squid Game” fraud, sophisticated coders now can make new fun and entire fictitious worlds on the blockchain. And to do it as fast as the next viral Netflix display takes off.

  5. Cryptocurrency Investment Schemes The latest forms of crypto are continually being minted, and when unique coins struck the blockchain it’s known as an initial coin offering (ICO). But ICOs are also possibilities for scams. A business or person may say they have a once-in-a-lifetime possibility to finance a new form of crypto with guaranteed 1,000% recoveries.

  6. Romance Scams Dating apps are teeming with crypto frauds. According to the FTC, about 20% of the pay lost in romance frauds from October 2020 through March 2021 was sent in the form of cryptocurrency. Frauds like this concern long-distance or virtual relationships in which one group pressures and convince another to purchase or give funds for some new latest crypto that’s just a method to scam individuals out of their cash.

  7. Phishing Scams According to Hire Bitcoin Bounty Hunters, this kind of scam is as old as the internet, but with crypto, there is some unique importance. Just as a “typical” phishing attack would function, bad actors transmit emails trying to bait recipients into clicking links and inputting their components — including crypto wallet key information.

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