Common Scams: How to Protect Yourself

Scams are a constant threat in the digital world, especially for cryptocurrency users. Stay informed and cautious to avoid falling victim to these schemes.

Online Shopping Scams

Scammers often prey on online shoppers, offering goods (such as vehicles) at too-good-to-be-true prices and asking for payment in Bitcoin. These fraudsters might send fake messages appearing to be from trusted platforms like eBay or other online marketplaces. Always ensure that payments are processed through official channels. If in doubt, contact the platform directly before making any transactions.

Accommodation Scams

Scammers may attempt to trick you into paying for accommodation via Bitcoin rather than through the platform's official payment methods. Remember, trusted companies like Airbnb do not accept Bitcoin as a form of payment. If you’re uncertain about a booking, verify it with the company directly to avoid being scammed.

Tax Scams

Beware of scammers impersonating IRS agents or other government authorities. They may threaten you with jail time or financial penalties unless you send Bitcoin immediately. It's important to remember that official government agencies will never ask for Bitcoin as payment. If you're contacted by someone claiming to be from the IRS or similar agencies, hang up and report the incident.

International Business Scams

In some cases, fraudsters may ask you to open a domestic bank account for a foreign business and send Bitcoin to them as part of a "business deal." These schemes often involve fake legal documents and promises of large payments. Never open accounts on behalf of others, and report any suspicious activity to local authorities.

Romance Scams

Romance scammers build fake relationships online, often using emotional manipulation to ask for money. Once they have gained the victim's trust, they may fabricate an emergency and request financial help. Be cautious about sharing personal or financial information with anyone you haven’t met in person.

Rental Scams

Some scams involve requests for rental deposits in Bitcoin. Always be cautious when renting items or property from individuals you don’t know, especially if they ask for Bitcoin upfront. Ensure that you are dealing with legitimate property owners or authorized agents before making any payments.

Employment Scams

Be wary of job offers that require upfront payments in Bitcoin, especially if they ask for money for "materials" or "agency fees." Legitimate job agencies and employers will never ask for money in exchange for a job opportunity. Always research any job offer thoroughly.

Scams Targeting Seniors

Older adults are often targeted by scammers looking to exploit their trust. These scams may involve fake love interests or urgent financial requests. If you are over the age of 55, take extra care to verify any requests for money or personal information.

Remittance Scams

Scammers may try to convince you to deposit checks into your bank account, only to later ask for Bitcoin payments in return. This is often done to hide their tracks. If you receive suspicious emails or communications asking you to handle money for someone else, report it to your bank immediately.

Prize Giveaway Scams

Prize scams trick users into submitting personal details by offering fake prizes. Never provide sensitive information (such as your address, phone number, or email) without verifying the legitimacy of the offer. If something sounds too good to be true, it probably is.