Beware of bitcoin scams

scam alert letting text on black background

Bitcoin scams are not new. Yesterday, bitcoin.org, the longest running bitcoin information site was hacked by scammers, and it seems to have been quite rewarding for them.

In this particular scam, a popup appeared saying ‘send some bitcoin to this address, and we’ll send you double back’. This bitcoin scam has been done a few times before. Elon Musk’s name was used earlier this year to get people to send over their bitcoin. One poor guy sent over 10 bitcoins (and at the time that was worth approximately $400,000).

Ole Musky is never going to give you double your money back… he may be nuts, but he didn’t get to be a billionaire by doubling people’s money for the sake of it!

Avoid bitcoin scams

Seriously. Do not send bitcoins to random addresses. If it seems too good to be true, it probably is!

Once your coins have been sent, I think it’s nearly impossible to get them back. If you’ve been scammed, there are some things you can do. Getting a cyber tracer to try to get it back is good, but it would be better to not fall for a scam in the first place.

Remember, it costs the devious devils very little to set bitcoin scams up, and the rewards are huge.

Be smart and secure your coins. To be honest, I use all the internet banking security tips and apply them to crypto. I also check any addresses a million times before sending, and I send a tiny amount first to check that it’s all real.

Unfortunately, people to fall for scams all the time. Make sure you’re not one of them!

Next Steps

One thought on “Beware of bitcoin scams

Leave a comment