Crypto may open several financial doors for individuals and businesses. Crypto is just as prone to fraud as traditional money, but the digital environment allows for more intricate and better-executed scams.
WhatsApp
The end-to-end encryption of WhatsApp safeguards your communications from hackers. Other scams still threaten users.
WhatsApp’s encryption attracts scammers and secure messaging users. No one except the victim should see your illicit conversations. Fraudsters use WhatsApp without phone numbers to be anonymous.
Many WhatsApp scammers mimic friends, credit card firms, or governments. They usually build urgency by stating an immediate response is required to avoid a disastrous outcome.
SMS scammers claim a loved one is in danger or that you must update payment details to avoid penalties. Fraudsters adapt their methods to national events. Many people received coronavirus outbreak texts offering phony treatments and testing.
WhatsApp scam types
Scammers may try to access your WhatsApp instead of your personal details. WhatsApp support texts you that your account will be deactivated if you don’t provide the verification code.
Popular financial guru scams offer too-good-to-be-true bitcoin investments. They may recommend shifting your investment money from a legitimate crypto exchange to their fake one.
Tinder and eHarmony romance scams are common. After connecting on dating sites, the scammer may attempt to get you on WhatsApp.
The offender may profess profound love and promise to forsake their life for you over WhatsApp. They then ask for money, citing necessity.
A relative is impersonated to perform family emergency fraud. Scammers may call from an odd number because their phone broke and they’re borrowing a friend’s.
Emergency money are requested by the impostor. The person may say they need cash now since their wallet was taken.
This scam claims victims won big “on behalf” of a lottery game. However, they will need personal information or a fee to process victories.
Texts inform the recipient of their gift card victory. They must provide personal information or click a link to get their prize.
These scams are clear if you get an award announcement for a contest you didn’t participate or are asked to pay. Contact the company via their website or social media to verify a sweepstake.
Telegram
Top messaging app Telegram. Telegram’s popularity and apparent security attract hackers and scammers.
Telegram scams include regular robocalls, emails, and messages.
Social engineering fraudsters want credit card, SSN, bitcoin, and social network 2FA credentials.
The Telegram app or a hazardous third-party site may host frauds.
Due of its popularity and simplicity, Telegram attracts fraudsters. Phone number is enough to create an account. Traditional phishing to sophisticated bot attacks imitating customer service agents are frauds.
Important topics may be discussed on Telegram channels and groups. Scammers sometimes create “copycat” channels to fool victims.
Channels will look recognizable. Names, profile photos, pinned messages, and admin identities may match legitimate ones.
In addition, “users” will discuss the channel’s promotions, get-rich-quick scams, and suspected free freebies. These sites flash offer pre-launch tokens to cryptocurrency investors.
However, other users or administrators may soon ask you to click a link or provide personal information for identity theft or account hacking.
Telegram is a prominent blockchain and cryptocurrency communication software. Scammers mimic crypto specialists on Telegram to steal cryptocurrencies, money, and logins.
Most crypto investment scams promise “guaranteed” returns. Tweets and Telegram messages from scammers promise a 50% return on investment.
If you communicate, scammers will offer you their “special” crypto exchange. After giving you charts and graphs showing your investment increasing, the fraudster vanishes with your “earnings,” and your account.
Someone sent $50 in Bitcoin to an exchange and earned $30. His friends invested their life savings in this scam when he told them. The bogus broker departed with everyone’s money after receiving it.
Telegram’s bot-building and use are unique. Lifelike Telegram bot interactions use natural language processing and AI, making frauds hard to uncover.
One recent SMSRanger scam impersonated PayPal, Apple Pay, Google Pay, and key mobile providers [*].
When hackers enter Telegram phone numbers, the bot calls to request personal information, bank account logins, passwords, and 2FA codes.
Forum fraudsters claim these bots work 80% of the time if someone answers. Worse, anybody can purchase these bots and commit fraud for $300 a month.
Telegram bot scammers impersonate tech support personnel. Bots will scan channels and groups for keywords and phrases and impersonate companies. They may request sensitive information or fee for “premium” support.
Giveaways, sweepstakes, and freebies are ancient frauds. These fraudsters made Telegram, maybe predictably.
A bot or Telegram account will provide Apple, Amazon, Venmo, or crypto exchange rewards [*]. To win, you must provide financial information, personal data, and/or a “fee”.
Telegram usernames are unique, so scammers can’t copy them. Scammers perpetrate several scams with phony account names.
Lookalike accounts usually help after public queries. They want to access your account or lead you to a phishing site.