Crypto Scam: Spoofing

Crypto is an extremely profitable endeavor — especially for scammers! One of the most common scams we see out there is spoofs scams. Spoofing comes in all shapes and sizes, in fact, some of the methods are downright creative.

One of the most successful spoofs recently has been against the Bored Ape NFT Project. In the month of April alone, NFT holders have been conned out of millions. The potential profit for scammers makes way for elaborate, well-planned, and well-resourced spoofs.

Presale Spoofs are rather common. First, the scammer recreates the telegram group and adds all the real users to the new group. Next, the scammer drops a link for the presale. When the user follows the link, they find a nearly identical presale page — and holy crap — the presale is almost sold out! Click, buy, money gone forever.

Spoofs are also common for active coins. Similar in nature, the scammer recreates the telegram and pulls the real users over. Next, the scammer engages the community, much like the real group — except the contract address listed in the group is not the real contract address. The scammer may even run a promotion, like a lottery, to promote buyers. Click, buy, money gone forever.

The CryptoCravers got your back. The more you know, the safer you are (and your money). Hopefully this article will give you pause, just enough to take a second glance before you hit the “buy” button.

Have you ever been the victim of a spoofing scam?

Join the discussion on reddit, r/CryptoCraversLLC

linktr.ee/CryptoCravers

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store