Bitcoin Scammer List 2021 – Beware And Stay Alert! >> A comprehensive guide on the BTC scammer list and tips for keeping the coins secured.
The crypto community registered tremendous growth in 2020-21. Specifically, Bitcoin has recuperated the lost value in the crypto market with its new all-time highs. Unfortunately, with these added value and highs come a variety of Bitcoin Scams.
The private and unregulated nature of the crypto market offers budding ground for online scammers to scam the Worldwide Bitcoin investors and buyers.
Bitcoin is the cryptocurrency with the potential to lure investors into the bull market. The out-of-the-world returns help drive more users into the crypto market. But, new buyers lack in experience to distinguish the common Bitcoin scams. Knowledge about the new Bitcoin Scammer List 2021 can prevent buyers from getting the next victim of the scam.
What is Bitcoin Scam?
Bitcoin Scam is the new online scam where Worldwide scammers maneuver or trick the victims to send them Bitcoin or revealing a method to access their Bitcoin wallet. The Bitcoin scammers follow the same methods to do scams as other financial scammers.
The scammers lure the investors with false commitments, like offering amazing profits and incredible deals. Investors are lured and invest their Bitcoin into the scam platform and send their currency to the scammer account.
As they receive the cryptocurrency into their account, they disappear, and the victim loses all his/her Bitcoin.
The Major Bitcoin Scammer List 2021
Scam One – Social Media Con Artists
The traditional password hacking methods are the easiest way for scammers to lure unsuspecting investors into sending their cryptocurrency. However, social media is the primary pathway for scammers as it gives them an easy platform to trick the victims into sending their Bitcoin or sign-up for a fake exchange for trading.
So, it would help if you stay alert of anyone claiming to offer free Bitcoin on social media. But, of course, nothing comes for free, and it is surely a scam.
Scam Two – DeFi Rug Pulls
DeFi or Decentralized Finance focuses on rebooting the conventional financial models by enabling the traders to wager their Bitcoin to networks and earn higher interests and profits. Moreover, since Bitcoin is locked into the network, the investors receive an episodic payment that often outpaces banks’ interest rates.
DeFi platform is legal and genuine, but there are some flat-out scams where traders are tricked by locking their Bitcoin into the network of some reputable DeFi company with the promise to offer higher returns for lending money.
Scammers lure the investors with higher returns and force them into smart contracts. Later they steal the funds before the owner recuperates the funds. So, it would help if you stay alert of the DeFi platform offering higher returns than expected.
Scam Three – NFT Scams
NFT or Non-Fungible Tokens are present on the blockchain, and they can be exchanged forth and back depending upon the marketplaces and users. However, if you have an NFT account and the scammers hack or transfer it to an outside user; you will have difficulty recovering it.
Scammers often target prospects with huge profits and claim to offer fake NFTs. The NFT scams are on its high. So, it is suggested that investors must buy NFTs from legit and reliable platforms and ensure using two-factor authentication for security and safety.
Scam Four – ALT Coin Pumps and Dumps
ALT Coins are always cheap with a small market capitalization that allows players to send the price soaring. The classic pump and dump is the common scam prevailing and targeting the investors. The investors buy huge amounts of ALT coins and pump up the ALT coin’s potential to the followers.
As the crowd masses in, the scammer starts vanishing, and the victims are left with their empty bags.
Scam Five – Viruses & Malware
Scammers are getting smart as they have found a way to do tricks. They use traditional computer malware or virus to access the crypto wallet and transfer all the Bitcoin into their account. Since the transaction is irretrievable, the innocent investors get no recourse to recovery them.
Fortunately, there are anti-viruses and anti-malware available that can detect viruses and prevent attacks. Ensure to keep your crypto wallet protected with two-factor authentication.
How to Keep Your Bitcoin Protected from Scammers?
- Use Exclusive Email – Bitcoin holders must use exclusive email addresses to perform all Bitcoin transactions. It adds an extra level of security during attacks as it never links the account with the email victim’s personal.
- Keep Distributing Bitcoin – You must always hold a small amount of Bitcoin in your wallet and distribute the remaining coins. It helps in reducing the chances of loss during attacks. But please ensure to choose a reliable company for distributing the Bitcoin.
- Create Backup for Wallet – You must have a backup for your digital wallet to prevent the issues caused by computer and human failures. Ensure to encrypt the wallet as it allows account recovery when the device breaks or is stolen.
- Software Update – The software or application used for trading BTC receives regular updates that can fix bugs and make the software secure for BTC trading. Any software or app installed on your device for trading may get outdated, and hence regular software update is necessary to keep your BTC secured and protected from scammers.
- No Sharing Information – It is common for investors to access specialized forums and groups for answering questions and sharing experiences to other investors. But, it would help if you are specific to the information you are sharing on the portals regarding your BTC transactions. Ensure that no transaction details are shared or disclosed in forums and groups. You are not aware of who is sitting at the other side of the screen and recording your shared details.
To Sum Up
Bitcoin is at its all-time high, and the market value is rising rapidly. As long as the price keeps increasing, the scammers will keep attempting to target more victims. The abovementioned Bitcoin Scammer List 2021 would help you to stay protected.
You must also ensure using two-factor authentication, keep changing the passwords. Avoid trusting someone offering sound too good to be true offers, and never lose your access keys.
Do you invest in Bitcoin? What steps do you use to stay protected? Please share your opinion in the comments box.
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