Cryptocurrency-based crime hit a new all-time high in 2021, with illicit addresses receiving $14 billion over the course of the year, up from $7.8 billion in 2020 according to a report by blockchain data firm Chainalysis.
A few examples of popular crypto scams include: hacked influencers, fake ICOs, phishing scams, and pump and dumps. Common red flags that could indicate your dealing with a crypto scam include: promises of unrealistic returns, crude websites, the lack of an adequate whitepaper, limited team visibility, requests for private keys, and free crypto giveaways.
If you’re interested in crypto, it’s important to be aware of the risks and how to prevent such scams from happening to your account.
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