Social media coding tricks you need to know

Think again if you think social media is the main source of cryptocurrency fraud. According to the analysis, Decentralized Finance (Defi) He holds that credit, and is inundated with cryptocurrency scams.

Don’t believe anything on social media. Here you will discover some smart strategies to protect yourself from cryptocurrency scams.

Cryptocurrency scam

Most crypto scammers follow the standard method of deceiving people on social media by impersonating celebrities or imitating famous brands. in this way, They deceive people into believing in the so-called gifts with which they will multiply their money Only if they deposit the amount into a specific wallet address.

Well, as soon as you send your money to the indicated address, all cryptocurrencies disappear. But that doesn’t make all social media giveaways ever fake.

You can also find some legitimate free offers on Twitter, and to make sure this is not a scam, all you have to do is Check thoroughly with a simple Google search.

A simple Google search can prove to be a lifesaver against scammers. Let’s take the ‘burrito or bitcoin’ gift organized by Chipotle as an example. simply by typing “Chipotle crypto giveawaySeveral articles from original and popular publications such as USA Today, CoinDesk, and CNN have appeared on Google.

Yes, a simple Google search can stop a scam before it happens. for example, The latest scam implicated by Ethereum co-founder Vitalik Buterin By searching for “Vitalik Buterin Crypto Giveaway”. However , The results focused only on the scam And not an upgrade.

Second, go to the official website To confirm the validity of the giveaway. Chipotle, Coinbase and Cash app, They all have official blog posts regarding bitcoin gifts Where they provided information on the terms and conditions of the competition. Don’t forget to make sure to scroll through the official website.

For example, the official website for cash app is cash.app and not cashapp.com. Phishing artist creates fake pages by taking seemingly legitimate addresses to deceive people. To learn more about the crypto scam, check out the video below. In this video, you will learn about different cryptocurrency scams.

Fake Account Encryption

The next trick that crypto scammers can play on the victim is to exploit trust signals like i Blue check marks on Twitter. Social media platforms have used trust signals to verify a higher source. However, it does not prevent scammers at all. People started creating profiles with blue checkmarks to mimic the blue checkmarks on Twitter and Facebook.

Plus, they can create a blue background that looks legitimate enough. Hover over the blue check mark to confirm that it is correct. A notification will appear on the screen with a message to verify account verification. If you hover over a verified Facebook account, you will get a message saying:

“Facebook has confirmed that this is the authentic profile of this public figure.”

Real accounts on Instagram follow slightly differently. They still have blue check marks but no popups. But this does not mean that you cannot distinguish between an official account and a fake. You can check if the account is the real deal by limiting the number of followers and other signals.

For example, Mark Cuban’s official Instagram account has only 1.7 million followers, while his fake accounts have only 31 followers. Remember not to trust blindly from this solution. Hackers have developed a way to successfully hack Twitter security and gain control of the official Twitter account.

Then, they circulated reports of fake cryptocurrency scams. Famous accounts like Kanye West, Barack Obama, Apple and Uber have been victims of this act in the past.

You have to be careful of the next fishy thing If you see someone using Ethereum domains as part of their handles. This practice is adopted by many legitimate people but has not been officially verified. If you have no idea what we’re talking about here, it’s a domain Ethereum is used to create shortcuts to share your identity on the Ethereum Blockchain.

Many well-known names use the ETH domain, such as Vitalik Buterin, Andreeson Horowitz’s investment partner Chris Dixon, Non-Fungible Token Influencer (NFT) Farokh Sarmad, and even socialite Paris Hilton. The ETH domain name has recently developed a semi-verification process for people. But it is not as useful as you think.

This simply means that more scammers will be attracted to ETH handles. This would influence them to simply use ETH handles to create false credibility and ridicule innocent individuals. Let us give you an idea of ​​what a fake Instagram account would look like.

There are many accounts used for cryptocurrency scams When they are fully active and thriving. In one case, a scam artist managed to get 640 thousand people to follow this account. There is a possibility that this person has used bots or brought in followers to prove their legitimacy. However, if you notice, You can spot many red flags.

First, find the check mark. If you look closely, the official blue tick may be missing. The second red flag is that this person may have mistyped the name as “Ethereum” as “Etereum” in the stories they posted on the account. Grammar errors or misspelled words are often overlooked But it could be the single most important indicator of potential social media fraud.

Twitter and scam

We have already told you about the clever mind of hackers earlier in this article. Scammers got smart And they found out Ways to break Twitter protocols It handles the accounts of famous names. They have been doing this for quite some time now and have successfully made people believe in their deception.

Most of the social media abuse in recent years is a bad example. Celebrity accounts hacked by hackers And other A-listers, smaller verified Twitter accounts are not safe from their crime now.

Recently, Some scammers hacked the official Troy Stecher account, who happens to be a hockey player in Detroit. He changed the account to look like “Saturday Night Live” and used it to send giveaway scam messages.

After hacking smaller verified accounts, Scammers have used it to comment or reply to other prominent accounts Or viral tweets to spread their tricks.

Mahmood Moghadam perfectly summarizes this technique. Hila Dogg, founder of Rap Genius says:

Nobody reads your tweets, but they read your responses to celebrity tweets.

Beware if you have some kind of comment or reply under a post that includes a giveaway or if you get rich fast with cryptocurrency because There is a 100% chance that it is a complete scam.

Scam YouTube Live Videos

Another hack that hackers have adopted that most people fall into is YouTube live videos. The YouTube live videos have become the source of a lot of scams this year. According to researcher Satang Narang, YouTube direct giveaways stole $8.9 million from investors in just one month.

How can a scammer use a YouTube stream to defraud people?

First, they create a live video that mostly consists of plagiarized content. These live videos simulate a kind of supreme authority in charge of cryptocurrency. You will find a free link in the video description below. There you will be asked to convert your cryptocurrency.

Scammers avoid reviewing YouTube content by using the Live feature until the video is finished. To avoid social media scam on most social platforms, all you need to do is a simple search. But what should be done to prevent YouTube scams? See below some tricks to check the legitimacy of a YouTube channel.

Check how many videos the channel has posted. If it only has a handful, it’s a red flag. Youtube uses a gray verification badge on its official accounts. Check if it is present or not.

The older the channel, the more reliable it is. You must check the date the channel was created. To do this, go to the Statistics section and find out when the channel was created. If it is recent, then there is a higher chance of fraud. watch out!

Later, if you see a live session, check if it takes up the entire screen or not. Youtube live videos will always use the whole screen. But if you notice that the video only gives up half the screen, that’s a potential screen. This logic requires scammers to use half of the screen so that the so-called giveaway link is visible.

Encoder catfishing

Cryptocurrency hunters and fake accounts are Hack people’s direct messages to separate them from their cryptocurrency. It is not always a scam.

For example, Busta Rhymes found her NFT designer via Twitter DM. However, this does not mean that you should turn a blind eye to this problem. Scammers mostly post your messages and share legitimate looking links.

Never click on a redirected link in your inboxEspecially without a background check. There is always a 99.9% chance that it is a scam.

Eric Charles from NFT Origin Protocol tells us this Identify legitimate and fraudulent direct messages on Twitter:

I’d like to look at the person’s Twitter profile, although I suppose I [DM] She cheated. I can tell if a Twitter account is authentic from its activity, verification status and when it was created.

last thoughts

Encryption takes extra care. The amount you send to someone in cryptocurrency cannot be challenged with a higher authority like credit card scam where you can dispute the transaction and get your money back. and why The world is still adapting to the concept of cryptocurrency. Therefore, as long as there are no proper laws and lawsuits regarding cryptocurrency and its scams, due diligence and caution is your best option.

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