Cryptocurrency Featured Fintech Primers

Top 5 Crypto Scams Of 2022

Investors now need to be smarter to understand the phycology of the crypto market so that they can be more careful and stay at the lower side of risk. In this article, the crypto scams shall be highlighted for 2022 which deceived the global consumers who were lured by its high returns but in the end lost everything.


Phishing Scams  

Such scams have into existence for ages and they work in a regular pattern in which you get an email or a link that shall be directing you to a website that in turn steals all your credentials. But in this new era, cryptocurrency phishing scams steal crypto wallets along with their passwords which can make anything do, like accessing the cryptocurrency and NFTs. Such breaches could involve a bank account, PayPal account, Venmo account, and crypto account which can be threatful. Digital asset owners should follow many of the same precautions internet users have always used against phishing scams: We must avoid opening any unknown attachments and visiting any unvetted website.

Investment Schemes  

Such has been practiced traditionally with few upgrades. One recent example outside the crypto world involves a biopharmaceutical company, Theranos, which once had claimed to develop a blood test technology that would create a revolution, but the jury found that the blood tests were not capable of consistently producing accurate results, and found it guilty of wire fraud in an investment scheme worth more than $1 billion. It is basically the responsibility of the investors to do the needed due diligence so as to be sure to understand the risks involved before betting on a crypto venture.

Read: Most Trending Crypto Wallet Of 2023 – Phantom

Unsustainable Projects  

One must be reluctant to jump into investments that one doesn’t know much about, which is a go