How cryptocurrency scams work – Is there really a profitable faucet?

Millions of cryptocurrency investors have been cheated out of a lot of real money. In 2018, cryptocurrency related crimes caused losses of $1.7 billion. Criminals use traditional and new technologies to exchange digital currency through an online database called blockchain to defraud their trademarks.
Through the study of blockchain, cryptocurrency and cyber crime, I can see that some cryptocurrency fraudsters rely on the time-honored Ponzi scheme to use the income of new participants to pay back to early investors.
Others use highly automated and complex processes, including automated software that interacts with telegram, an Internet-based instant messaging system popular among people interested in cryptocurrency. Even if the cryptocurrency scheme is legal, fraudsters can still manipulate its price in the market. But a more fundamental question arises: first, how to attract unsuspecting investors to participate in cryptocurrency fraud?

False advertisement

Some cryptocurrency fraudsters cater to people’s greed and promise huge returns. For example, an unknown group of entrepreneurs runs the fraud robot icinter, a Ponzi scheme aimed at bitcoin and litecoin. It does not provide information on investment strategies, but in some way promises investors a daily return of 1.2%.

The spread of social media

The icenter scheme operates through group chat on the telegraph. At first, it was a small group of swindlers. They get a referral code to share with others on blogs and social media, hoping to get them to join the chat. Once there, the new comer will see the encouraging message from the original cheater. Some newcomers decide to invest when they are assigned a separate bitcoin wallet in which they can deposit bitcoin. They agreed to wait for a period of time – 99 or 120 days – to get a decent return.

Rampant Referral code

During this period, newlyweds often use social media to share their recommendation codes with friends and contacts, so that more people can join in group chat and investment plans. These funds are not actually invested in any legitimate business. On the contrary, when newcomers join, those who recruit them will get a certain proportion of the capital from the new fund, and this cycle will continue, paying the early participants from each round of new investors.
Some members have made great efforts to introduce new funds, release videos of tutoring and photos of holding a lot of money as bait to join the scam.

More and more lies

Some swindlers resort to direct deception. The founder of onecoin, a fraudulent cryptocurrency, defrauded investors of $3.8 billion by making people believe that cryptocurrencies they didn’t exist were real.
Other scams are based on impressing potential victims with jargon or expertise. These global trading scammers claim that they take advantage of the spread on various cryptocurrency exchanges to profit from so-called arbitrage – just buy at a low price and sell at a high price. In fact, they just took money from investors.

Is there really a profitable faucet website in the world?

Crypto Mining Game

how-cryptocurrency-scams-work-is-there-really-a-profitable-faucet

https://cryptomininggame.com/
In Crypto Mining Game, you can play as a Cryptocurrency Miner in an Original Crypto-Universe!! Mine for game your favorite Crypto-currencies (will never use CPU), do mission to earn Hpower and Ingame Stuff, Collect Original Cards and play with it to Crypto-related Mini-games!

Xfaucets.com

how-cryptocurrency-scams-work-is-there-really-a-profitable-faucet

https://www.xfaucets.com/?ref=3f53370c
At present, xfaucets has ten kinds of cryptocurrencies, including BTC, Eth and Doge. If you are interested in other cryptocurrencies, you can also collect them synchronously, because it can be obtained every ten minutes. In addition, xfaucets has two levels of invitation rewards. The first level receives 25% of the rewards from the users who register and click on your invitation link, and the second level receives 10% of the rewards from the friends you invite and then invite them. This is different from other platforms and more profitable. If you are interested, you can click my invitation link to view it.

Faucet.Asia

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https://www.faucet.asia/ref/index?r=Tard%20Crypto
Faucet.asia is a special faucet station that provides dog money. If you are only interested in dog money, you might as well try this website, faucet.asia. You can get 0.001 Doge in 30 minutes. Of course, faucet.asia also has a recommendation reward. You can get 25% of the recommendation reward by inviting your friends to register through your invitation link. If you want to get a lot of free dog money from the faucet and add some fun, faucet. Asia is definitely worth a try.

ALLCOINS.PW

how-cryptocurrency-scams-work-is-there-really-a-profitable-faucet

https://allcoins.pw/faucets.php
Allcoins.pw is one of the most valuable faucets. The list of cryptocurrencies is long, including dogcoin, bitcoin, Ethereum and Leyte. You can get Doge every 6 minutes with a single click of a button. Between rotations, you can earn more gold by playing games, setting up walls or using automatic faucets
The faucet can also provide 50% commission for your recommended income. You can share your recommended links with friends and invite them to receive rewards. In addition, if you want to make more money, you can use the tap to mine dogcoin, which will mine dogcoin on the autopilot when you perform other operations. If you want to get a lot of free dog money from the tap and add some fun, it’s definitely worth a try.
Global trading uses a robot in the Telegraph – investors can send balance queries, get false information about how much money is in the account, and sometimes even see the balance rise by 1% in an hour. With such a high rate of return, who can blame people for sharing plans with friends and family on social media?

Exploiting friends and family

Once a plan is launched, it will stay alive through social media – at least for a while. One is attracted by the promise of a huge return on cryptocurrency investment and spreads the news to friends and family.
Sometimes big people get involved. For example, gainbitcoin and other agents behind the alleged fraud in India have convinced many Bollywood celebrities to promote his book, cryptocurrency beginners. He even tried to make himself a celebrity, claiming to be a “master of cryptocurrency,” a work that cost investors $769 million to $2 billion.
Not all celebrities know they’re involved. In a blog post, icinter showed a video purportedly speaking for Dwayne “the rock” Johnson, holding a sign with the icinter logo. Justin Timberlake’s and Christopher Walken’s videos have been tampered with, so they seem to be praising icenter, too.
Dwayne ‘rock’ Johnson actually doesn’t approve of this cryptocurrency scam.

Fraudulent initial coin issue

Another popular fraud technique is called “initial coin offering.”. Initial coin offering is a potential legitimate investment opportunity. It is essentially a way for a start-up cryptocurrency company to raise funds from its future users: in exchange, it can send active cryptocurrencies such as bitcoin and Ethereum, and new cryptocoins promise to give customers a discount.
Many of the first coins have proved to be scams, and the organizers have carried out cunning plots, even rented fake offices and produced strange looking marketing materials. In 2017, a lot of hype and media reports about cryptocurrency gave birth to a huge wave of fraud in the first coin issue. In 2018, the initial issuance efforts of about 1000 coin companies failed, causing investors to lose at least $100 million. Many of these projects were not original – more than 15% copied ideas from other cryptocurrency work, or even copied supporting documents.
Investors looking for returns in new technologies are still interested in blockchain and cryptocurrency, but it should be noted that they are complex systems, even for those who sell them. Newcomers and relevant experts have fallen victim to the scam.
In the current cryptocurrency market, potential investors should be very careful to study what they put their money into, and be sure to find out who is involved in it, and what the actual money making plan is – rather than cheating others.

 

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