What are some common cryptocurrency scams?

1. Phishing Scams: Scammers use fake websites and emails to lure people into providing personal and financial information.

2. Pump-and-Dump Scams: Fraudsters manipulate the price of a coin by buying large amounts and then selling them off quickly, creating a “pump” in the price.

3. Ponzi Schemes: Fraudsters promise unrealistic returns on investments in cryptocurrency.

4. Malware and Ransomware Attacks: Malicious software is used to gain access to accounts and data or to demand ransom payments.

5. Fake ICOs (Initial Coin Offerings): Fraudsters use fake websites and fake documents to convince investors that their investments are safe and secure.

6. Exchange Hacks: Fraudsters hack into cryptocurrency exchanges, stealing funds from user accounts.