Discord is a popular social tool for many crypto players, but there are quite a few crypto scams taking place on it.
Although Discord has a basic filtering function and people who have no relation or shared channels can not be directly contacted. However, after adding too many channels of games or NFTs, it could be easy to mix up relevant details.
There are common private messages notifying you of winning the lottery, impersonating a project team or linking to a phishing website, etc., aiming to obtain your wallet’s private key, mnemonic phrase or excessive authorization, and then drain your assets.
No matter which Discord group you are in, don’t click on unidentified URL links, stay alert to private messages from strangers and take care of your wallet private keys, mnemonics, and account privacy.
Telegram classic fraud case
Telegram is another common social instrument for crypto players. Since 2017, various kinds of scams have emerged one after another. One of the most common but hidden methods of fraud is the copycat of a well-known exchange, which is easy for new users to mistake for an official one. The community will drop guard and then the group will release announcements in the name of exchanges and attract investors to take the bait.
For instance, a scam claims that a large exchange provides a limited amount of platform currency in its own cold wallet as a contract rebate currency. Users need to transfer ETH to the smart contract, it will automatically execute the contract, and the rebate will be 8% interest + principal, etc. The price of the platform currency to the user, in simple terms => transfer $100 of ETH, it will return $108 of platform currency to the user’s wallet, and all the ETH voluntarily entered by the user will be transferred to scammers.
The websites/apps/customer service talk users into investing more money in such scams, and even the related group members will prepare a full set. It is difficult for investors to identify and the loss is usually tremendous.
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