With the continuing rise in bitcoin price, you can be sure as hell that fraudsters have spotted a golden opportunity to test your stupid side.
But let me first say that fraud over the bitcoin network is almost nonexistent because of the revved up security features by the Bitcoin Core Client.
Most fraud happens at the wallet level, the exchange level, or as a consequence of your not using the mind.
Well, scamsters out there have a variety of tricks; some will convince you to send bitcoins to them for products that you will never see, others will want to access your private keys so they may spend your bitcoins via your wallet, and others still will want to steal your funds just for the heck of it (psychos)
Tools of fraudsters
- Malware downloads
Nowadays, a thief will not walk up to you and try to separate you from what you own, but rather, they’ll gain access to you through the one thing you love…
Depending on their target niche, they may put malware-ridden downloads on favorite websites and then tag along with an enticing message.
And if you’re a lover of easy things, you’ll find yourself downloading the software, and the malware will attach itself to your device.
Soon enough your wallet will be empty.
A thief may contact you through email claiming to be something they are not (for instance, an exchange) and they may ask you for account details and access to account login detail. Then when you give out this info, you lose out your bitcoins.
- Pyramid schemes
A pyramid scheme almost seems legit at first, because the thief understands the power of patience, but when he has lured enough people into his lair, he will close shop and run, and probably call it bankruptcy or something.
Most instances of hacking are as a result of not being careful about the environment one uses their device.
For instance, you may log into your wallet while unaware that an intrusive network is being broadcasted around you. And for goodness sake, do not log into insecure networks.