Cybercriminals take advantage of the low understanding surrounding this type of digital asset to attract potential investors and make off with their money. They promise high returns on investments, with little-to-no risk. Some of the techniques most used by scammers include social media ads and fake endorsements by celebrities. Below, we tell you how this type of fraud works, and give some useful tips on how to avoid becoming a victim.
Cryptocurrencies are, generally speaking, digital currencies that use cryptography to secure transactions, ensure authenticity and prevent copies from being made. They work through blockchain technology and are stored and managed through digital wallets.
Unlike traditional money, i.e., the cash you carry around or the money in your bank cards or mobile phone, digital assets are not backed by central banks or other public bodies. Cryptocurrencies are also not regulated by any other institutions and do not require intermediaries to carry out transactions. One of blockchain's features is that data in its records cannot be deleted or altered. Therefore once you make a transaction, like buying or selling cryptocurrency, you can't intervene or cancel the operation. In a nutshell, there's no way out of transactions if you get caught in a scam.
Criminals trying to scam you by using cryptocurrencies as bait can impersonate financial advisers, company representatives or celebrities. They even go as far as creating fake social media profiles or bogus dating profiles. They use social engineering techniques to weave an investment web through which they try to show that they are completely legal and legitimate. Their goal is for you to use your money to buy cryptocurrencies and then have you transfer the crypto to them - or handover control - under the guise of helping you multiply your investment. Since another feature of these virtual assets is payment anonymity — once the transaction is complete, it's virtually impossible to trace the funds and recover the money.
We'll use an example to tell you how one of the most used scam techniques works: Natalia loves music. While browsing online one day, she finds an ad by her favourite artist where they supposedly recommend an investment in a cryptocurrency. This grabs her attention and she decides to click on the ad link. She's then redirected to another website where she must enter her personal details to receive more information. This website was designed by a cybercriminal to appear genuine and not raise suspicions.
After providing her details, the scammer contacts Natalia by phone (but she could also just as well be contacted through social media, text messages, email, etc.). The scammer impersonates a financial adviser to offer her high returns by investing in said cryptocurrency. In some cases, the criminals typically use sales tactics to pressure victims to complete the transaction there and then.
Because Natalia doesn't have much understanding on how digital assets work, the investment seems like a good idea to her and she accepts. Next, the scammer asks her to download and install a software program onto her personal computer and, without knowing, Natalia gave the scammer access to her computer. When she starts to deposit her money into the cryptocurrency platform, the criminal blocks access to the accounts and the money invested, and makes off with the funds.
The best defence against fraudulent crypto investments is to remain on high alert to spot any possible signs of scam. Following are some advices to bear in mind:
It's always a good idea to study the accuracy of the information at hand, on the authenticity of websites and platforms, and even on the celebrity or individual supposedly endorsing the investment. This way, you create your own criteria to help you make decisions. There's no better way to safeguard your money than taking all the time you need to find the answers you're looking for. It's vital that you don't download anything without first checking that it really is a legitimate investment opportunity.
Pay close attention to any offers or promotions you receive out of the blue by email. Furthermore, be wary of investment opportunities featured in ads or on your social media.
As obvious as this recommendation might seem, swindlers invent all sorts of guises to ask you to transfer your funds. They contact you by SMS or social media channels to convince you they're a friend or a family member who needs urgent help. Always check and compare the information to make sure that the name of the profile or user is actually who they claim they are.
A seed phrase is the sequence of words you use to prove that you are the owner of a cryptocurrency wallet should you need to recover access if your computer or smartphone breaks or is lost, for example. By sharing this information, you may be putting your funds and control over your account at risk.
Beware whenever you come across supposed investment opportunities offering more attractive returns than normal. Remember, if it's too good to be true, then it probably is, and it could be a ploy to lure you in and flee with your money.
The digital environment is so dynamic, so it's important that you stay up to date and understand the different types of fraud popping up so you can recognise the warning signs of investment scams.
Your assets and savings are too valuable to risk investing without the security of knowing you're making a well-informed decision. All precaution you take is a good idea and can make the difference between keeping your money safe or falling victim to a scam.
Wahalifu wa mtandao hutumia fursa ya ufahamu mdogo unaozunguka aina hii ya mali ya dijiti kuvutia wawekezaji wa uwezekano na kuondoa pesa zao. Wanahakikisha faida kubwa ya uwekezaji, bila hatari yoyote. Baadhi ya mbinu zinazotumiwa zaidi na wadanganyifu ni pamoja na matangazo ya vyombo vya habari vya kijamii na uthibitisho bandia wa watu mashuhuri. Hapa chini, tunakuambia jinsi aina hii ya udanganyifu inafanya kazi, na kutoa vidokezo muhimu juu ya jinsi ya kuepuka kuwa mhasiriwa. Cryptocurrencies ni, kwa ujumla, sarafu za dijiti ambazo hutumia cryptography kulinda shughuli, kuhakikisha uhalisi na kuzuia nakala kutengenezwa. Zinafanya kazi kupitia teknolojia ya blockchain na huhifadhiwa na kusimamiwa kupitia mkoba wa dijiti. Tofauti na fedha za jadi, yaani, fedha unazosafirisha au pesa katika kadi zako za benki au simu yako ya mkononi, mali za dijiti hazitegemezwi na benki kuu au mashirika mengine ya umma. Cryptocurrencies pia si umewekwa na taasisi nyingine yoyote na hawana haja ya wajumbe kufanya shughuli. Moja ya sifa za blockchain ni kwamba data katika rekodi zake haziwezi kuondolewa au kubadilishwa. Kwa hivyo mara tu unapofanya shughuli, kama kununua au kuuza cryptocurrency, huwezi kuingilia au kufuta operesheni. Kwa ufupi, hakuna njia ya kutoka kwa shughuli ikiwa utafungwa katika udanganyifu. Wahalifu wanaojaribu kukudanganya kwa kutumia sarafu za sarafu kama mtego wanaweza kujifanya kuwa washauri wa kifedha, wawakilishi wa kampuni au watu mashuhuri. Hata wanaenda mbali sana kama kuunda wasifu bandia wa mitandao ya kijamii au wasifu bandia wa kuchumbiana. Wanatumia mbinu za uhandisi wa kijamii kutengeneza mtandao wa uwekezaji ambao wanajaribu kuonyesha kuwa ni halali kabisa na halali. Lengo lao ni kwa ajili yenu kutumia fedha yako kununua cryptocurrencies na kisha kuwa na wewe kuhamisha crypto yao - au uhamisho wa udhibiti - chini ya kivuli cha kukusaidia kuzidisha uwekezaji wako. Tangu kipengele kingine cha mali hizi virtual ni malipo anonymity <unk> mara moja shughuli ni kukamilika, ni karibu haiwezekani kufuatilia fedha na kurejesha fedha. Kwa mfano, unaweza kutumia mfano wa kuvutia wa Natalia, ambaye anapenda muziki. Siku moja, wakati akitafuta mtandaoni, anapata tangazo la msanii wake anapenda ambapo wanapendekeza uwekezaji katika cryptocurrency. Jambo hilo linamvutia na anaamua kubonyeza kiungo cha tangazo hilo. Kisha anaelekezwa kwenye tovuti nyingine ambapo anapaswa kuingiza maelezo yake ya kibinafsi ili apate habari zaidi. Tovuti hii ilibuniwa na mhalifu wa mtandao ili ionekane kuwa ya kweli na isitokeze mashaka. Baada ya kutoa maelezo yake, mlaghai huwasiliana na Natalia kwa simu (lakini anaweza pia kuwasiliana kupitia mitandao ya kijamii, ujumbe wa maandishi, barua pepe, nk). Mlaghai hujifanya kuwa mshauri wa kifedha ili kumpa faida kubwa kwa kuwekeza katika cryptocurrency hiyo. Katika baadhi ya kesi, wahalifu hutumia mbinu za kuuza ili kuwashawishi waathirika kukamilisha shughuli hapo na wakati huo. Kwa sababu Natalia hana ufahamu mwingi juu ya jinsi mali za dijiti zinavyofanya kazi, uwekezaji unaonekana kama wazo nzuri kwake na anakubali. Kisha, mlaghai huyo anamwomba apakue na kufunga programu kwenye kompyuta yake, na bila kujua, Natalia anampa mlaghai huyo kompyuta yake. Wakati yeye kuanza kuweka fedha zake katika jukwaa cryptocurrency, jinai kuzuia upatikanaji wa akaunti na fedha kuwekeza, na hufanya mbali na fedha. Ulinzi bora dhidi ya uwekezaji wa udanganyifu wa crypto ni kukaa katika tahadhari ya juu ili kugundua dalili zozote zinazowezekana za udanganyifu. Ni daima wazo nzuri kujifunza usahihi wa habari iliyopo, juu ya uhalisi wa tovuti na majukwaa, na hata juu ya mtu mashuhuri au mtu anayedhani kuunga mkono uwekezaji. Kwa njia hii, unaweza kuunda vigezo vyako mwenyewe ili kukusaidia kufanya maamuzi. Hakuna njia bora ya kulinda fedha yako kuliko kuchukua muda wote unahitaji kupata majibu unayotafuta. Ni muhimu kwamba wewe si kupakua chochote bila kwanza kuangalia kwamba ni kweli ni fursa halali ya uwekezaji. Angalia kwa makini matoleo yoyote au matangazo unayopokea bila kutarajia kupitia barua pepe. Pia, uwe mwangalifu kuhusu fursa za uwekezaji zinazotajwa katika matangazo au kwenye mitandao yako ya kijamii. Ingawa huenda ikaonekana wazi kwamba ni jambo la kawaida kufanya hivyo, wadanganyifu hutumia njia mbalimbali ili kukuomba uhamishe pesa zako. Wanakutumia ujumbe wa SMS au mitandao ya kijamii kukushawishi kuwa ni rafiki au mwanachama wa familia anayehitaji msaada wa haraka. Sikuzote angalia na kulinganisha habari ili kuhakikisha kwamba jina la wasifu au mtumiaji ni kweli wao kudai wao ni. "Neno la mbegu ni mfululizo wa maneno unayotumia kuthibitisha kuwa wewe ni mmiliki wa mkoba wa cryptocurrency ikiwa unahitaji kurudisha upatikanaji ikiwa kompyuta yako au simu yako ya rununu imevunjika au imepotea, kwa mfano.""" Kwa kushiriki habari hii, unaweza kuwa kuweka fedha zako na udhibiti juu ya akaunti yako katika hatari. Jihadharini wakati wowote unapokutana na fursa za uwekezaji zinazotoa mapato mazuri kuliko kawaida. Kumbuka, ikiwa ni nzuri sana kuwa kweli, basi labda ni kweli, na inaweza kuwa mbinu ya kukudanganya na kukimbia na pesa zako. Kwa sababu ya hali ya digital, ni muhimu kuwa na ufahamu wa aina tofauti za udanganyifu unaotokea, ili uweze kutambua ishara za onyo za udanganyifu wa uwekezaji. Mali yako na akiba yako ni ya thamani sana kuhatarisha uwekezaji bila usalama wa kujua unafanya uamuzi unaofahamika vizuri. Hatua zote za tahadhari unazochukua ni wazo zuri na zinaweza kufanya tofauti kati ya kuweka pesa zako salama au kuanguka katika udanganyifu.