How crypto scams work and how you can protect yourself

Among the online fraud scenarios are those focused on cryptocurrencies, which promise spectacular profits from investments.

Their goal is simple: to gain the trust of people, so that they obtain money or personal data through deceit.


How does it all start?

Someone contacts you online after you have accessed various ads on social media and offers you a "unique opportunity": an investment with guaranteed profit, in a very short time. Sounds tempting, doesn't it?

Out of curiosity, you decide to try and deposit a small amount on a cryptocurrency platform. Everything seems fine until the "advisor" tells you that it's time to withdraw your profit and asks you to install an app that allows remote control of your phone or calls you via video call and asks you to activate screen sharing, and at that moment takes control of your phone.

Trap? Through that application, that person gains full access to your device, being able to see what you type and what information you enter, whether on crypto platforms or in banking applications.

Result? Without realizing it, you provide personal data, card information, authentication codes (OTP) and even direct access to your bank accounts.

Why do these frauds work?

The secret of the "success" of these attacks lies in a psychological mechanism called social engineering. Practically a form of manipulation by which attackers gain your trust step by step.

They know exactly how to activate strong emotions:

• the desire for quick profit
• fear of missing an opportunity (FOMO – Fear of Missing Out)
• the impulse to act immediately

When all these combine we are dealing with a perfect storm, and logic and prudence are the first to disappear.

How can you protect yourself from crypto scams

• Be skeptical of "irresistible" offers. If it sounds too good to be true, it probably is not.
• Do not install "remote control" type applications. They provide attackers full access to your phone, including OTP codes and banking applications.
• Keep your login data only to yourself. Do not give anyone your username, password, or temporary codes.
• Do not disclose card information such as the PIN or the CVV2/CVC code. Not even the name, number, or expiration date.
• Trust your instinct. If you feel pressure to act quickly, stop. A moment of hesitation can save you all your money.
• Do not screen share when you are on a video call.
  
  

What to do if you have fallen into a trap?
If you have been a victim of such a scam, act immediately:

• Call the bank urgently, at number 0264.308.055
• Report fraud to authorities – for example, National Directorate for Cyber Security (DNSC).
• Uninstall suspicious applications from all devices.
• Run a full scan of your phone or laptop to remove any malware programs.
  
  

You can find us anytime at 0264.308.055 or contact@btrl.ro. Don't forget, so that we can help you in the most efficient way, it is important to explain exactly what happened, giving us as many details as possible 😊.

🔒 #StaySafe
Be attentive, informed, and stay on the lookout.