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Unveiling the tricks of cryptocurrency phone scammers
Beware of crooks who promote schemes that guarantee hefty profits. These advertisements may appear legitimate and feature famous personalities vouching for their effectiveness. However, in many cases, the celebrities are unaware that their image and name have been exploited. Fakers utilize social media platforms to entice unsuspecting individuals with the promise of fast and effortless wealth. Their ulterior motive is to deceive you into giving away your money or private details.
If your personal information is involved, it may be sold to other criminals who will then approach you with similar offers in an attempt to steal your money. Scammers will convince their targets to register on cryptocurrency investment websites and provide personal details like credit card information and driver's licenses in order to open a trading account.
Once the victim has made an initial minimum deposit, the fraudster will contact them to persuade them to invest further for a higher profit. In certain instances, individuals have only realized they were scammed once the website has been shut down and they are unable to contact the criminal involved.
Criminals take advantage of the chaotic and unpredictable cryptocurrency markets by exploiting people's vulnerability and persuading them to invest their money, tricking them into thinking it's the perfect opportunity. It's not uncommon for scam victims to remain unaware of the deception for a significant period of time. You might unwittingly make multiple payments to the criminals and only recognize you've been scammed when you attempt to withdraw your funds from the fraudulent scheme. In the unfortunate event that something goes awry with your cryptocurrency investment, the chances of recovering your money are quite slim. This is primarily because these investments are generally not protected by the Financial Services Compensation Scheme in the UK.
How to identify cryptocurrency scams
Investments that appear legit and promising on visually appealing websites, advertisements, or social media posts can be deceiving. Fraudsters often manipulate the names of popular brands or influential individuals to create an illusion of authenticity and high-profit potential.
Trustworthy companies don't pressure you into giving them your money right away. Stay cautious if you're being pushed to invest quickly or if you're offered something that seems too good to be true.
Be cautious when receiving unsolicited phone calls. Prior to making any investment, seek independent advice and conduct thorough research on the company in question.
If you want to find out more about the phone number that called you, you can try doing a reverse phone search. There are websites like https://whocall.co.uk where you can find a lot of information about phone numbers. By using this website, you can enter the phone number you want to search and get useful information for free. It can show you if other people have reported the same number and you can even add your own report. This can help you determine if the number is reliable or not.
Don't be fooled on social media
Imagine stumbling upon social media ads or receiving personal messages from public figures or influencers, luring you with seemingly incredible deals and promising huge profits. They appear out of nowhere, reaching out to you via phone, email, or social media platforms. Picture their persistent and forceful sales tactics, as if convincing you that investing immediately is imperative, for if you hesitate, you risk missing out on this extraordinary opportunity to make substantial returns. They deliberately create a sense of urgency, pushing you into making impulsive decisions, leaving minimal time for contemplation.
If you are a victim of phone fraud or any other kind of fraud, contact Action Fraud to see if they can help you get your money back.