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The high rate and frequency of cryptocurrency frauds, asking for help, and begging are the most prevalent

The high rate and frequency of cryptocurrency frauds, asking for help, and begging are the most prevalent

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Answer The high rate and frequency of cryptocurrency frauds, asking for help, and begging are the most prevalent

The crypto arena is fraught with danger.

As the exploiters and fraudsters lurk in the category of investors, especially the novices among them.

Deepfakes, romance scams, begging and cryptocurrency fraud are some of the most common methods used by criminals around the world.

In the first quarter of 2022, global cybersecurity services company NortonLifeLock reported that it had stopped more than 18 million attacks in India, an average of 195,794 per day.

Norton is an individual and corporate cybersecurity company with security solutions and an industry leader.

According to the company, there were about 60,000 phishing attempts and 32,000 scams for tech support, as scammers now spread deepfake schemes to gain access to financial or personal information.

Read:Ethereum Classic is threatened with a 51% attack… for these reasons

Deepfakes, romance scams, and scams are three diverse ways thieves use to commit online fraud, according to NortonLifeLock.

The report notes that scammers have used deep-fake technology to create fake social media profiles, fuel charity scams and other fraudulent scams, and distribute misinformation related to the ongoing crisis in Ukraine.

Scammers took $29 million in bitcoin from charitable crypto investors in 2021, according to Norton Labs, and that number is expected to rise in 2022.

Romantic deception is also a common tactic that preys on those who yearn for love and connection.

Scammers use fake online identities to carefully select potential victims, often preferring widowed or divorced women.

Once the scammers find the victim, they spend time developing the semblance of a romantic relationship in order to win, manipulate, and steal from the victim.

Read:Elon Musk sells his first non-fungible NFT digital token… Details here

According to the company, when scammers mix tactics, new risks emerge.

Accordingly, users of cryptocurrencies are faced with a great challenge that imposes on them caution and dealing only with trusted authorities and making sure of that.

We also warn against those who beg and tell tragic stories to seek the sympathy of their victims.

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