Know Your Scammers

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The world has fully evolved digitally which has made things easier to do or handle, however, this has also created room for hackers, scammers and other risk factors that are ready to inflict damage or jeopardize other users in the digital world. “Know your scammers” will be able to show you different types of scammers that are available, so I will be listing some popular/common ones below.

Some popular scams that are popular in the digital world are:

Ponzi schemes:

This is usually done when a platform or someone creates a scheme where people come invest little or no money and they get huge returns these huge returns are usually gotten from the early birds to the platform, making refer more people and investing more money into the hope of getting bigger profits but when they’ve accumulated huge profits from the investors they close the platform locking the investors out. This is very similar to rug pull.

Rug pull:

Rug pull is very common in the crypto world. Rug pull has to do with a crypto project team acquiring all the necessary funds from an investor and they hype the project to a certain level that people buy into it and when they have gotten what they want they abandon the project and run with the funds.

Fake giveaway/Airdrop:

This is also another common scam scheme in the crypto world. This usually happens when a new crypto project has been created and they decide to give out some quantities to users by performing some tasks which isn’t a bad idea but it gets worse when they start asking for sensitive information or asking to deposit some fees before you can access the airdrop. This scheme is usually common on social media channels like Telegram, Discord and Twitter.

Investment schemes:

This is like Ponzi schemes, but this sometimes also involves a direct approach not only online, but they also ask you to invest in a business with the hope of getting high returns within a short time. Another way is crypto or trading apps asking you to deposit in funds and then helping you trade with it, and you get returns and when you do that’s the end of it.

Employment scam schemes:

This personally I almost fell victim to this, this can happen either online or offline and it involves a random company sending an invitation for an interview promising good pay, when you finally get there they either ask you to pay for unnecessary things or they rob you.

Identity/impersonation scam:

This is scammers have stolen the identity of another person or authority and use it to deceive people in order to steal money from them or use the person’s identity against the real owners.

There are so many scam activities and methodologies out there, one has to be careful before engaging in any online activity and proper research has to be done first.

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