Over the past day or so the price of Bitcoin has had a little bit of a turn around from its recent cooling off period. Within that same period I’ve been tracking an increase in the number of Bitcoin scams being promoted through social media.
If you see a “news” article which features a celebrity promoting how they made XXXXX amount from a dodgy crypto app, just know that it’s all fake. The news article, the celebrity endorsement, the app — all a fake.
Look out for promoted tweets and Facebook ads like:
The Ad (being promoted as of writing on Twitter) links to the following page which is a fake version of The Guardian.
These scams seem to have no problem getting approved by Twitter, Facebook and Google ad moderators, even though they are easily spotted as outright scams. Weird.
If you are looking to get into crypto (and I’m not saying you should), don’t use a “get rich quick” type scheme. Anything that promises guaranteed returns is usually a scam (there are legit ways to earn interest on crypto using Defi, but it’s still not a guaranteed return and carries real risk). Just buy and hold Bitcoin and do it through a legit exchange.
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