I'm sure that every time one of you has come across another news story about fraud and how gullible investors are losing their money, you've probably wondered: ‘Who is the heartless person behind this?’. Today, I will show you the other side of this story as I will tell you the story of a former crypto scammer who made money by cheating:
When I first started my journey in the crypto industry, I was amazed by its potential. However, instead of learning and investing wisely, I chose the ‘easier’ way - fraud. At first, it seemed simple: come up with an attractive scheme, lure people with the promise of huge profits, and then disappear with their money. I used psychological tricks, manipulated emotions, and created fake platforms that looked quite convincing. My goal was simple: quick money without any responsibility. It worked until the problems started. When my project collapsed, I realised that it was not only me who suffered, but also my victims. The trust in the crypto industry was destroyed, and I was left alone with the consequences of my actions.
Now that I am reaping the rewards of my actions, I feel remorse and want to share some useful tips on how not to get caught by the ‘former me’:
Research projects before you invest: Research the cryptocurrency or project you are planning to invest in. Get to know their team, technology, and white paper.
Beware of loud promises: If you are promised quick profits or too much interest, it could be a sign of a scam. If something sounds too good to be true, it's probably a scam.
Don't be pressured: Scammers often try to get you to act quickly. Always give yourself time to think about it.
Choose trusted platforms: Use reliable crypto exchanges with good reputations and security practices, such as Coinbase, Kraken, WhiteBIT. They actively take measures to protect their users by checking projects and taking measures to detect fraud. In addition, on the eve of Halloween, WhiteBIT launched a campaign in which traders' fears and risks appear in the form of crypto monsters.
Learn from my mistakes and remember: the crypto industry has huge potential, but only for those who are ready to work honestly.
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