Crypto

Cybersecurity expert offers warning as cryptocurrency scam sweeps TikTok

Published

2 years ago

September 17, 2022

Cybersecurity expert offers warning as cryptocurrency scam sweeps TikTok

JACKSONVILLE, Fla. – A cryptocurrency rip-off is sweeping by TikTok.

In accordance with the Higher Enterprise Bureau, it begins with a rip-off artist posting a video of a big pile of money {that a} con artist claims they made in only a few days by investing in cryptocurrency and that they will do the identical for you.

When you message the con artist, they’ll ask you to ship cash by Paypal, Zelle, or Venmo for a cryptocurrency “funding.”

As soon as the cash is distributed — they’re gone and so is the money.

Cybersecurity skilled Chris Hamer recommends everybody have a selected mindset in place to keep away from falling sufferer to get-rich-quick schemes on-line.

“If you happen to’re strolling down the road and any individual comes as much as you and says I can double your cash, simply give me 20 bucks and I gives you 40 {dollars} again simply as quickly as I get again. Are you going to offer it to them? Most likely not,” Hamer mentioned.

Hamer mentioned it’s vital to grasp that all the pieces that seems on social media won’t be what it appears.

That goes for enjoying on-line video games or taking part in seemingly innocent social media quizzes or for influencers with hundreds of followers promoting you merchandise.

“It’s so malevolent the way in which they do it,” Hamer mentioned of the social media quizzes. “Relying on what number of of those silly participation issues that you just’ve achieved, I do know your favourite colour, I do know your canine’s title, I do know your favourite meals. And all of that is used to construct up a profile that goes right into a database. A few of it’s used for focused promoting.”

Hamer mentioned it’s vital to keep in mind that “free” is rarely actually “free” with on-line providers.

“Any time anyone affords you a free service it’s since you’re the commodity. They’re promoting your info and your entry and your likes and dislikes to advertisers,” he mentioned. “You might be what they’re promoting to advertisers. You’re the commodity.”

Hamer mentioned the quizzes will also be used to glean extra private info that can be utilized for identification theft — like tricking you into sharing your delivery month with a “select your birthstone” quiz after which sharing your delivery 12 months and day in a separate quiz that seems to be from a special group however actually isn’t.

The much less info you give out, the much less probably you’ll be scammed, he mentioned.

Related Topics:consumer money scams Social Social Media Tech

Click to comment

Crypto

Bitcoin nears $100,000 as investors bet on crypto-friendly Trump policies

Published

2 hours ago

November 21, 2024

Press Room

Bitcoin nears 0,000 as investors bet on crypto-friendly Trump policies

World’s popular digital currency rises as high as $99,073 on expectations Trump will ease legal and regulatory hurdles.

Bitcoin is nearing the $100,000 mark as crypto enthusiasts bet that United States President-elect Donald Trump will usher in a more welcoming regulatory environment for digital assets.

The world’s most popular digital currency rose as high as $99,073 on Thursday, extending its surge since Trump’s re-election on November 5.

The commodity has risen more than 60 percent since election day as investors anticipate Trump’s incoming administration to ease regulatory and legal hurdles to its use.

Trump, who called the asset a “scam” during his first term, accepted campaign donations in cryptocurrency, and has pledged to make the US “the crypto capital of the planet” and accumulate a national bitcoin reserve.

Trump and his three sons in September also announced the launch of their own crypto business, World Liberty Financial, which investors have taken as a promising sign of the president-elect’s belief in the sector.

In another bullish signal for the sector on Thursday, United States Securities and Exchange Commission (SEC) chair, Gary Gensler, who was widely disliked among crypto investors for his aggressive enforcement actions targeting the sector, confirmed that he would step down in January.

Trump had pledged to fire Gensler on “day one” of his administration, though the president does not have the authority to remove the SEC chair before the end of his or her term.

While viewed by supporters as a ticket to big returns and financial freedom, Bitcoin and other cryptocurrencies are known for their volatility and have faced government crackdowns in several parts of the world.

After climbing to a record high of $69,000 in late 2021, Bitcoin plunged to less than $16,000 over the following year.

The commodity burst past its previous peak in March after gaining more than 300 percent since November 2022.

Crypto

Shemaroo Entertainment and PWR Chain Announce Strategic Partnership to Revolutionize India’s Digital Entertainment through Blockchain Innovation – Press release Bitcoin News

Published

11 hours ago

November 21, 2024

Press Room

Shemaroo Entertainment and PWR Chain Announce Strategic Partnership to Revolutionize India’s Digital Entertainment through Blockchain Innovation – Press release Bitcoin News

Crypto

WisdomTree launches ETP focused on XRP cryptocurrency

Published

18 hours ago

November 21, 2024

Press Room

WisdomTree launches ETP focused on XRP cryptocurrency

WisdomTree has launched a new cryptocurrency exchange-traded product (ETP), the US asset manager announced today, with a focus on the XRP digital currency.

The new WisdomTree Physical XRP (XRPW), joins the firm’s $1.1bn lineup of physically backed cryptocurrency products, designed to provide European investors with a straightforward, regulated means of investing in digital assets without direct ownership.

The XRP asset, native to the XRP Ledger (XRPL), has carved out a unique role for itself in the digital currency landscape, as a blockchain optimised for cross-border payments and high-speed transactions.