Coinbase recently posted a blog detailing one of the less covered places that people find themselves scammed. Our previous work on C2CX has helped us identify some of the types of scams found on Telegram and we will identify them here.
Coin Listing Scams
Scammers on Telegram approach ICO’s posing as different representatives from different exchanges and offer to list the token or coin for a fee. These can range from BTC to a sum of the coin from the ICO. Another variation of the scam is offered to individuals inside of chat groups through user posing as a representative or ‘insider’ of an exchange. This scammer will offer OTC deals at discounted prices, then take your money and never send the offered OTC. Always use designated exchanges for any cryptocurrency purchase and any reputable exchange will have the listing policy on the website and easily accessible to the public.
This is an old one for any Twitter user but still needs to be brought to light. A channel or user will label themselves as an official channel of some exchange or coin and advertise a Giveaway of a large amount of crypto, with the reader urged to send a small amount of coin to an address to enter. Any reputable service will never do such a thing unless it is advertised on their actual website or through official new services.
Load Up Scams
Loaning an account that is verified with your personal information and bank account in order for this person to buy or launder crypto through with the promise of sharing the profits. Usually stolen credentials such as credit cards or bank accounts are used to purchase the crypto, which leaves the verified person with any legal burden the act will bring. Also if it isn’t obvious, they wont give the account or the money back.
People offering employment in a niche or hard to obtain sector, doing so under false pretenses. Many times there will be onboarding fees or some attempt to gather your person information such as account credentials. Always apply through official channels for any job offering.
Tech Support Scams
A group will usually label themselves as an official official group for an exchange or other service. The ‘admins’ in this group will then message you privately claiming to be able to fix issues with your account. They will then try to get access to your credentials and take any money that is found there. Always send tickets through the official website, usually found in the ‘Contact Us’ section.