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Cryptocurrency has revolutionized the way we perceive and interact with money, but with great innovation comes great responsibility. The digital landscape is riddled with scams and fraudsters eager to prey on unsuspecting investors. Protecting your hard-earned digital assets requires vigilance, research, and secure practices. In this post, we will explore the various types of crypto scams, offer essential tips on how to avoid crypto scams and provide guidance on reporting and recovering from scams.
Key takeaways:
Crypto scams are becoming more rampant due to their lucrative value, with the biggest cryptocurrency heist to date in 2022 — the Ronin Network hack.
Some of the most common crypto scams include phony crypto exchanges, app frauds, phishing, pump-and-dump, Ponzi schemes, business opportunity scams, and the latest scams like crypto job listing scams.
One of the easiest ways to spot and avoid cryptocurrency scams is by identifying the project background.