How do scammers work?

Scammers are ever-present, and their only interest is stealing your funds, no matter how big or small.

They operate on many platforms: Instagram, Facebook, Twitter, email, Telegram, Discord etc. Over the years, they have used various methods to acquire funds from unsuspecting individuals.

Some of the known methods are:

Giveaways - Although extremely basic, people do fall for this one. Send x funds to an account and receive 2x back.

They approach you first - When you request assistance in a channel, you will receive a DM. More often than not, an admin of a page will NEVER DM FIRST.

Someone strikes up a conversation with you and makes a short effort to get to know you. They will then show you some great returns that they have made by moving funds into a staking/high-interest account.

Fake social media accounts - You'll follow an imitation account, believing it to be legitimate, and they will offer a competition or DM you.

How to avoid this situation?

Firstly, never send funds to another wallet upon request.

Do not interact with someone that DMs you first. The admins on Telegram will display the name 'admin' alongside their name. This will only be visible in the general chat (not via DM).

Always cross-check their @username against the official admin's profiles.

An admin/team member in a reputable Discord page will usually be ranked accordingly. Check them out.

If you have already interacted with the Scammers, as they requested, and your assets have gone, they will still prey on your desperation to retrieve your funds. They could promise to return the funds but then ask for fees for the transaction. They will sense your desperation and will bleed you dry.


I think I have already been scammed.

If you have interacted with the Scammers, as they requested, and your assets have gone, they will still prey on your desperation to retrieve your funds. They could promise to return the funds but then ask for fees for the transaction. They will sense your desperation and are more than willing to get every cent from you.
There are even companies that say that they can help you retrieve your funds. This is extremely unlikely, and many of them ask for payments upfront.

For some, it may be a valuable lesson learnt. For others, it will take a while to get over the pain.

Our advice, as always, is never to invest more than you can afford to lose and always be vigilant.

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