A fearsome cryptocurrency scam is currently circulating on social networks. Fake advertisements impersonating famous people promise to make you a lot of money.
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– Be careful, cryptocurrency scams are currently increasing on social networks.
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The trap is grotesque but it nevertheless attracts the curiosity of thousands of Internet users. The latter then click on the links of this false information and are invited to fill out a form. Shortly after, they are then contacted by a purported advisor who offers them investments. The latter then asks them for a first transfer to supposedly release the money.
Also read: Dogecoin: “Crypto makes traders bark and bankers meow”
Scams in vogue after Trump’s victory
This type of scam is not new and the criminals even follow a seasonal pattern depending on the cryptocurrency market, our colleagues point out. However, since the election of Donald Trump in the United States, the sector has been booming. And for good reason, the new American president wants to relax the regulation of cryptocurrencies. As a result, the best known of them, bitcoin, reached a historic record surpassing the $90,000 mark on November 13.
To avoid falling into the trap, be wary of overly tempting promises and definitely do not give out your contact details over the phone. If you have any doubts about the authenticity of a service provider, you can consult the website of the Financial Markets Authority (AMF) which lists all the players in the sector.
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– What are the main factors contributing to the rise of cryptocurrency scams on social media following the US elections?
1. Can you discuss the recent surge in cryptocurrency scams on social media platforms and why they have become more prevalent after the US elections?
2. How can individuals identify and protect themselves from these types of scams?
3. What are some other ways that scammers are using social media to target cryptocurrency investors?
4. In your opinion, what role does regulation play in preventing these types of scams within the cryptocurrency industry?
5. Can you share some tips on how to research and vet legitimate cryptocurrency service providers?
6. How do you think the increasing popularity of cryptocurrencies is impacting investor awareness and education around potential risks like scams?
