Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: TomPluz on February 01, 2025, 05:53:00 AM
-
Scams and frauds have had been around since time immemorial and some would even say it goes back to the Garden of Eden when the devil scammed Eve and Adam to go against the rule. Anyway, this is not a religious post am saying the point that human history is quite replete with scams big and small...and with the coming of cryptocurrency scammers have found a new haven they can work on with a global market.
According to Fool.com (https://www.fool.com/research/crypto-investment-scams/): "More than 80,000 investment scams have been reported through the first three quarters of 2024, costing consumers $3.9 billion. That puts this year on pace with 2023, during which a record 111,000 investment scams were reported with losses totaling $4.8 billion."
And yes, we are only talking here of the reported ones so the real figures can really be so high...putting many victims at risk of financial ruins as they trusted these scammers with their money or cryptos.
In 2025, I am sure there can even be more as cryptocurrency is getting more limelight this year than ever...and that is why we should be careful and let's share the many possible red flags to other people especially those close to our hearts.
-
And yes, we are only talking here of the reported ones so the real figures can really be so high...putting many victims at risk of financial ruins as they trusted these scammers with their money or cryptos.
The report also says victims with age from 30 - 39 reported the most cases. Those in the higher age range were probably too tired to report anything or maybe most of them are just the chill type ;D Seriously, I'm surprised that there's also a huge number taken from this group. You would expect that they are already quite educated with computer and internet and wise enough not to fall with scams.
-
80,000 investment scams related to Bitcoin or any investment scams, this number seems large, if it is accurate, I think there is a necessary need to educate investors, as more than 80% of fraud cases can be avoided by following simple rules.
-
these numbers might never decline or become so low it’s almost non-existent because one, there will always be scammers and the more an industry is booming the more scammers would be interested second, there are a lot of beginners still especially last year where many have heard of bitcoin doing well and decided to give it a try hence why maybe they are still vulnerable and ignorant about many things
not saying that only beginners can get scammed but they are definitely a factor so let us just make sure we are always informed because these scammers are also always looking for ways to fool us and take our money
-
Yes of course scam have actually been inexistence longer than we recognize most times. The difference between those scams back then and now is that most of the scams now are pioneered online rather than offline. The best way to stay safe from most scam schemes is to be aware of how they work and also to not be greedy because most times greed makes people fall for scam attempts.
The truth is people will always get scammed no matter how much you try to spread information about scam and how to prevent them they scam schemes will still get updated from time to time.
-
what really upsets me about these scams, apart from the obvious damage to people, is that it was probably a new user getting to know cryptos, who never wants to use cryptos again, thinking it's all a big scam
And it's complicated that in most cases that I know of, they're people who couldn't afford to lose that money
In addition, there must be a good number of people who have never reported the scam out of shame.
-
---
In 2025, I am sure there can even be more as cryptocurrency is getting more limelight this year than ever...and that is why we should be careful and let's share the many possible red flags to other people especially those close to our hearts.
With this, I guess we can all say that scams will always be party of crypto industry already because despite the effort of spreading information on how not to get scammed, there will still be people especially those newbies that will get scammed.
TBH, it's kind of useless to combat with these scammers because at the end of the day, there will still be investors that will get scammed for various reasons. Heck, there are still investors that believes in "Bitcoin doubling scam" where these scammers say that if you put X amount of BTC into this address, it will double in a few minutes. I know that this has been used numerous times already, but there are still who are falling into it.
It's a bit upsetting, but investors will not learn if they will not experience it first hand.
-
In 2025, I am sure there can even be more as cryptocurrency is getting more limelight this year than ever...and that is why we should be careful and let's share the many possible red flags to other people especially those close to our hearts.
The cryptocurrency industry has become the haven of scammers because of the technicalities that many investors have a hard time grasping and the greed of investors who are easily deceived by these cunning developers.
The only way to minimize these scams is for people to get educated and be guided on how these scammers and hackers work. Education is the key to combating all the scams and the hacking that's happening in the crypto industry.
-
Old users like us will more than likely not going to fall for them. It is however necessary to make warnings all over the internet to save the would be victims. Social media is going tot be used more by these scammers though, there are more naive people in the Meta than on forums like this.\
80K scams in less than a year. I'm sure haven't heard the half of them but i'm guessing, ICO like scams are more of them where a fake team is asking people to invest.
-
80,000 investment scams related to Bitcoin or any investment scams, this number seems large, if it is accurate, I think there is a necessary need to educate investors, as more than 80% of fraud cases can be avoided by following simple rules.
Yeah, I agree. But memecoin scams nowadays are high compared to Bitcoin related scams though this is just based on my observation maybe that started as early as 2023 or 2024 where memecoins gain traction and rug pulls are quite common and I am one of those who gamble for it but had no luck so far.
-
In 2025, I am sure there can even be more as cryptocurrency is getting more limelight this year than ever...and that is why we should be careful and let's share the many possible red flags to other people especially those close to our hearts.
This is not even a matter of uncertainty anymore; cryptocurrency and investment-related scams will be more prevalent in this new year, with the hype around the year as it being a year expected to be good for cryptocurrency. Any new person that you are introducing to cryptocurrency should also be introduced to security and the consciousness of it. This is because having knowledge of security and staying up-to-date is what will help them against this.
-
And yes, we are only talking here of the reported ones so the real figures can really be so high...putting many victims at risk of financial ruins as they trusted these scammers with their money or cryptos.
The report also says victims with age from 30 - 39 reported the most cases. Those in the higher age range were probably too tired to report anything or maybe most of them are just the chill type ;D Seriously, I'm surprised that there's also a huge number taken from this group. You would expect that they are already quite educated with computer and internet and wise enough not to fall with scams.
For me, I am not surprised at all, it is very obvious from the statistics that at this ages, between 30 to 39, we can find young men who are strong and serious to make wealth. I think that thirty years is the full age of a man, it is refers to as the age of accountability, and many young men who are eager to become rich, and those who are successful are commonly found between this age gap.
It is very clear that this age renge is the full youthful age where men wants to proof that they equal to the task to be a man even at all cost. It is also an age levels where many of them wants to marry and raise a family for their future representatives
-
80,000 investment scams in the first three quarters of 2024, totaling about $3.9 billion!!! That's a really big number of scams.
I also expect the real numbers to be much higher because many people keep their privacy and don't show the real numbers of their assets and many of them hide being scammed because they don't want to tell the government.
Every field has its pros and cons and crypto, although it has a lot of profit and good income opportunities, is also full of scammers so the only solution is through accumulating experience and increasing cognitive awareness.
-
Scams and frauds have had been around since time immemorial and some would even say it goes back to the Garden of Eden when the devil scammed Eve and Adam to go against the rule. Anyway, this is not a religious post am saying the point that human history is quite replete with scams big and small...and with the coming of cryptocurrency scammers have found a new haven they can work on with a global market.
According to Fool.com (https://www.fool.com/research/crypto-investment-scams/): "More than 80,000 investment scams have been reported through the first three quarters of 2024, costing consumers $3.9 billion. That puts this year on pace with 2023, during which a record 111,000 investment scams were reported with losses totaling $4.8 billion."
And yes, we are only talking here of the reported ones so the real figures can really be so high...putting many victims at risk of financial ruins as they trusted these scammers with their money or cryptos.
In 2025, I am sure there can even be more as cryptocurrency is getting more limelight this year than ever...and that is why we should be careful and let's share the many possible red flags to other people especially those close to our hearts.
Comparing back in the past on which there's so much that bigger amount in terms of USD that had been scammed in forms of crypto but as we do go forward on which adoption and recognition is really that getting higher in compared into those previous years but still surprisingly the amount is still big on which there are are still people who do easily believe about those shit offers that sparks out their greed, some are that still careless with their wallets and getting phished or scam wallets and the rest will really be that talking about investment scams on which this isnt really that new or shocking anymore.
-
(https://www.talkimg.com/images/2025/02/03/ePaTm.png)
It seems that ponzi is no longer a serious threat at this time but must remain vigilant, or it still exists but the category is still unclear... this data explains that various types of investments have emerged, and it is highest for the fraud method used... the category may be too general and I am sure there are also those similar to ponzi in it...
A little confused too, whether the loss of money from trading in the data is also included there... maybe the loss reports from several parties also include the trading activity as a form of loss due to fraud (it could be like that)...
Seeing that the most widely used communication media is social media, it can be said that many people seem to be tempted by the sweet promises of fraudsters... we must be more vigilant on social media today.
-
In 2025, I am sure there can even be more as cryptocurrency is getting more limelight this year than ever...and that is why we should be careful and let's share the many possible red flags to other people especially those close to our hearts.
1 month has passed already and in compared to 2023 and 2024 the start of this year is very good afaik there are no big scams has happened till now as in 2024 I remember in the first two months or maybe If I am not wrong in the first month there were many big scams already happening.
Still the stats are showing the same idea that this year due to bull run and more normies in the field, scammers are increasing too to make more money from these normies, the scam money would exceed the 2023 and 2024 scammed money, but most of this money is not scammed but hacked which is a different think agree?