Scammed for Seven Figures and Why Decentralized Social Media is the Next Step

in LeoFinancelast month (edited)

Where there is money - there are scammers. When there is more money - more scams appear. As the crypto market cap keeps increasing on day to day basis, we are going to see more and more frauds, impostors, and con artists. For those of us who are longer in this game, it's our duty to educate newcomers about the creative ways of these scams. While some are pretty obvious, others are much harder to recognize, especially for newbies.

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Today I'll go through some of these scams, and if this article helps at least one person to avoid them, it will be a small victory for all of us because the amount of crypto these scammers get is too fucking big. It's simply unbelievable!

Yesterday, as I watched Scott Melker's live stream on Youtube (more commonly known as the Wolf of All Streets), he talked about his friend who had just lost seven figures worth of crypto by participating in an airdrop where he had to share his private keys. Why the hell would you do that?

DO NOT SHARE YOUR PRIVATE KEYS WITH ANYONE

That's why they are called ''the private keys''. They are meant only for you, and maybe your great-grandchildren. If you send them to a scammer, he can simply log in to your wallet and send your crypto to anywhere he wants. A simple mistake that could cost you everything. And still - many people fall for this shit every single day.

In the image below you can see a perfect example. These guys are impersonating Trust Wallet app. First of all, look at the website - does it look like something you can trust? And even if the website looked real, when someone asks you for your private keys (seed phrases, mnemonic phrases), it's a 100% scam!

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When you see shit like that happening - report these scammers. We can't let them collect millions without any repercussions. We are more than them and together we are strong. Educating ourselves is the greatest defense against a scam.


YOU WILL NEVER GET 2 BTC FOR SENDING 1 BTC

There is another popular scam that goes under every Elon Musk's tweet claiming that Musk is giving away double the amount of BTC that you send. Meaning - if you send one, you'll get two back. It couldn't be more obvious that it's a scam and yet, people still fall for it. And it's not always Musk but lately, he's the most popular figure.

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I took the screenshot above from a malware analyst on Twitter called Alexej Savčin. He found out that these two scams got themselves half a million in under two days. For me, it is unacceptable. Yes, the scammers took their time to create these graphic designs but that's all there is to it.

Two days ago I saw that someone sent 5 BTC to this exact scam. Damn! If you don't need your Bitcoin, you can easily send it to me.

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source


TOP SCAMS

If you visit scam alert website, you can see a list of top scammers and the amount of crypto that they've accumulated. It is fucking crazy if you ask me! These are only the top 10 active scams but there are definitely thousands of others.

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Isn't this crazy? Sometimes I think that I should create something like this for fun and get millions of dollars in a few months but then I just can't do it. I've been raised differently and taking advantage of people is not the way I want to succeed.


STAY ALERT AND ALWAYS VERIFY

One wrong click with your mouse can lead to all sorts of bad things. From losing all your crypto to even losing your identity. You must always remain alert on the internet and verify everything you see. If you're not sure about something, ask a bit of advice from your crypto friends or Leofinance community. We are smarter when we work together!

In fact, using LeoFinance can decrease the risk of falling for a scam. I have actually never seen a scammer post on this HIVE front-end. And if there was, they would be unmasked in the comment section and have lots of downvotes because this community sees through scams. I wonder how Project Blank will deal with it but I think we can show an example for all the folks out there.

Why do we need decentralized social media? A perfect example.

The guy I talked about before, the Wolf of All Streets, can't use Twitter anymore because of the number of scams under all of his tweets. That's why he decided to turn off his comment section and allow comments only from people he follows.

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As a result, he got 400 direct messages in 10 minutes. Reminds me of the Almighty Bruce when became God and received millions of prayers. Yes, this guy is super popular in the crypto-verse but what the hell - let him live.

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Will the Real Scott Melker use Project Blank?

If he does, that would be great but one thing I know for sure - if scammers came to Leofinance, we'd deal with them because we are the fucking lions and our roar is loud! We will tear to pieces those who come and try milk a lion. Not one article on Leo has scammers as the top comment. Not one! I'm pretty confident about Project Blank too.

Conclusion

Stay safe out there because it's a crazy world. Twitter and other centralized social media are full of scams, fake giveaways, bots, and phishers. On Leo, it's quite the opposite. We are real people here and we stand up for each other. It's in our best interest to remain spam and scam-free. As we can all call Leofinance our home, we are all responsible for the well-being of this place. It's simple and beautiful.


Thank you for reading!


Read some of my other stuff:

Social Media Platform that Connects Blockchain People and Projects Together - Torum Review
Must Read - 33 Reasons Why You Should Be Using HIVE Blockchain!
Crypto Faucets That Really Pay - Browse Here
SwissBorg Lottery With a Guaranteed Bitcoin Prize - Look Here

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Oh, to the hell with those scams. It's really disgusting to see them getting a lot of money ... and it's really unbelievable that some people still fall for this kinda scams.

STAY SAFU!

The crypto world is a great world to be active in. But it really isn't all roses and moonshine.

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These are truly words to live by in these days of helicopter and free fiat...

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Hehe, thanks!

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Very nice article my friend, thanks for sharing!

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Thank you, lovely friend!

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I would put it in a bit different way:

NEVER EVER SHARE YOUR PRIVATE KEYS WITH YOUR EVERY DAY USE COMPUTER.

If your PC is connected (online) - it is not your's, and it is not your friend.
It is your ENEMY.

Understand the basics of privacy.

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That should be a class and a prerequisite before allowing people to connect on the Internet.
You just gave the last kick to my ass and I completed this overdue task.
Not a single password on my connected computer anymore. Thanks !

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That's true! I'm storing my keys offline and have never entered them on my pc.

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privacy is really important to understand and that is why we need to protect all our keys in order to avoid situations that would make us experience loss of our investments....

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Very important post that every crypto newcomer (and more seasoned too) should read and remember.
And don’t think you’re safe on Hive ! Scammers are everywhere and you can expect more and more coming to our peaceful hive with good price action.
Thanks for sharing boi ;)

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More info why you see this.

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Thank you!

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Sometimes it is outrageous hearing the scams people fall for. I want to hit then in the head.

GREED is one of the major causes of scams. People fall for too-good-to-be-true deals. I know crypto can be crazy and people make outrageous profit but that is not enough reason not to do your due diligence. Even when I got my uniswap raindrop I had to ask questions from the community.

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You nailed it.

Greed stops people from thinking rationally. WHY ON EARTH would someone give you 2 BTC if you give them 1 BTC?

When things look too good to be true, most of the times it's because they are not true.

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Yeah, that's true! Shiny things attract people. If they are too good to be true, they are often fake. Asking others is the best option.

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Asking others is the best option.

Told my girlfriend the same thing this morning. She is new to crypto and I have seen her dabble into a few strange things. I told her to enquire from me before she does anything. asides losing funds, there still the potential of getting hacked and losing other important data

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True! Happy to hear your girlfriend getting into crypto!

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They may think they are smart but they can't be smarter than collective smartness compressed together.😉👌

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And yet - plenty of people fall for these scams.

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I think it's because they don't know the stuff they are made up of. 🤷‍♂️

Haha, sadly, that's true.

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I also read about that guy who sent 5 fucking BTC to a confirmed scam and I was shocked.

How can you have 5BTC and don't know these scams ...5 fucking BTC !!

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Yep, that's crazy!

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Ah yes, those scammers are pretty much everywhere. Especially when the price starts to go up! Thanks for putting this together. It was a really great overview for those who might be new to blockchain and Hive. That Hive wallet scam dropped the other day and honestly for a split second I almost fell for it. I am glad I thought better of it.

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Damn, didn't know about Hive one. It seems these scammers go everywhere where there is money.

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They sure do!

Reading and learning well before entering any field is the key to keep your money and your balance
These are very good advices
Thank you

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Thank you, Natalia!

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Very good post. This is very important.

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Thanks!

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I'm very new to the Hive ecosystem and things are a bit confusing. I was thinking about how much it was a trust game when installing keychain on my browser, or connecting metamask. Granted, I don't keep much on Metamask, but still...
I guess what I'm trying to say is that as the space organizes there is chance for scammers to act because when you enter in a new space, everything looks similar.
How do I know if a trading app is real or not? they all look the same.
Thanks for this post. The more we are aware the easier is to spot fakes.

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You must always search for real people who are using the platform. Asking others is a great way to find out if that platform is real. As days go by, you'll see scammers from a distance.

Thanks for the comment!

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Spammers are like a damn virus. However, we can beat them!

Great post, @bagofincome!

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Together we'll beat them! Thank you!

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Just checked out https://scam-alert.io
It's a great site. Thanks for sharing :)

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Thank you, the site is really useful.

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One wrong click with your mouse can lead to all sorts of bad things. From losing all your crypto to even losing your identity. You must always remain alert on the internet and verify everything you see. If you're not sure about something, ask a bit of advice from your crypto friends or Leofinance community. We are smarter when we work together!

that is totally true,and that is why one needs to be extra careful whenever they surf the internet...

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Correct!

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