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Crypto Modus Operandi Now Revealed

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Have you ever wondered why there are still scammers out there? Oh well, there are still those who are not yet informed on how the crypto modus operandi works. Here are some popular crypto scams that you should be aware of. This way, they will not be able to profit from your innocence. You owe yourself to settle for a reputable digital currency and crypto exchange such as

Great giveaways in exchange for coins

Imagine using the good name of Elon Musk to perpetrate a scam. Yes, the fraudulent activities of some could go as far as using the names of top crypto investors to take advantage of others.  All they care about is scoring some more coins in their wallet at the expense of the victims. In this case, there are direct and indirect victims who could demand damages. That is, if the culprits get caught so you would not want to take your chances.  

It all started from a Twitter notification from Musk allegedly inviting victims to visit a website to retrieve rewards. The modus was well-orchestrated, from hacking a Twitter account to developing a website where it all ends. Once on the website, the victim is lured into trading his Bitcoins for double the value. All this time, the victims were made to believe that it was a legitimate giveaway promo by the Tesla executive. In a BBC report, one of the victims traded coins amounting to £407,000.

Never get into the crypto love boat.

Apparently, love not only can move mountains but also crypto coins. Some scammers are using dating sites to find their victims by building a romantic connection.  They would exert all efforts to make you fall in love through constant conversations. From time to time, you will be drawn to a crypto investment talk which you might not find suspicious as endorphins flood your bloodstream.

Scammers can visit you dressed as angels for you to drop down your guards. He can be the most charming guy or the most gorgeous chick around tinder, but you better beware. Next thing you know, you are already chatting outside the dating app about investment opportunities. You will then find yourself in a bogus crypto exchange with your savings swept away much more than your feet.

Earn more through referrals

For extra money, some would certainly go the extra mile. It is for this reason that scammers would bait victims by giving rewards for referral into the platform.  They would ask you to invite your friends and relatives to be able to obtain more victims. It is an easy way for crypto predators to grow their bounty multiple times by letting the recruits do the rest of the work.

To fuel the networking initiative of its recruits, the developers have created a favourable atmosphere for investment. The popular scam called Bitconnect made use of the multi-level marketing strategy with attractive interest rates for investors. New recruits kept coming given the income opportunity, which unfortunately lasted for only three years. It was later labelled as a Ponzi scheme, with the coin value crashing down to zero. You know it always pays to be reasonable that you want to check on the feasibility of a business model before jumping on the bandwagon.

Now you see me,  and now you don’t

Perhaps the most common crypto scam in history is the exodus of the developer after some time. It is like building a fortune in the guise of a common fund. The scammer would create a cryptocurrency to be able to get away with a huge amount of money. Of course, it would operate for a certain period of time to accumulate sufficient funds for the loot.

As soon as the culprit reaches the target amount, the money will be withdrawn from the system. The crypto coins would be devoid of value, leaving the investors empty-handed. This is the usual strategy of those who intend to secure easy money using their computer expertise. It would really be useful to do a background check of the crypto coin’s founder although this is not a guarantee of trustworthiness.


Hopefully, you would know better not to fall for such a fraudulent scam involving crypto trading, from the typical multi-level marketing scheme to the disappearing act by the founder after some time with all the bounty

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