WORST Crypto Scams in 2022!! DONT Fall For These!! ⚠️

Foreign For a crypto scam and you wouldn’t even Know it they have become ever more Brazen and elaborate and have stolen Billions from unsuspecting victims In this video I’m going to tell you About some of the most prolific crypto Scams out there scams that could be Waiting for you just around the corner So if you want to be prepared then this Is a video you just can’t afford to miss [Music] Before we look at scams I need to give You the lay of the land although this Content may give you a hand Financial Advice is not part of the plan I am not A financial advisor and have never been A fan This is purely an educational video Designed to help your mind expand Now if you are new here my bad let me Introduce myself before you go mad my Name is guy and I think crypto is rad And on this channel we think it’s Anything but a fad Coins tokens news reviews and Market Moves too it’s all covered here just for You If that sounds like your cup of tea then Tap that subscribe button if you please Ping that Bell as well that too would be Mighty swell Okay it’s now time to tell you about Some of the nasty scams trying to put

You under their spell I want to start with perhaps one of the Most common scams out there the giveaway That’s because these are so damn Prolific that they permeate nearly every Corner of the internet And these are also particularly relevant Right now given that these are the scams That appear to be Central to the Conversation around bot spam on Twitter Not only are they incredibly pervasive But trying to stop them is like trying To kill a Hydra with unlimited heads So let’s start with the basics then what Is a giveaway scam well as the name Suggests it’s a scam where free crypto Is being given away the main ammo here Is that if you send a certain person Online a small amount of crypto they Will send you double triple or 10x your Investment Now at their core these are akin to well Someone Anonymous on the internet Offering to send you something for free The scam is of course not new to crypto These used to do the rounds as the Famous Nigerian prince emails that People got back in the early days of the Internet the main Mo there was that Someone wanted to send you a lot of Money but needed you to First send them A wire to confirm the bank account Same play different day When it comes to how these giveaway

Scams operate you’ll usually be told to Go to some link that will show you a Website or landing page detailing the Steps of the giveaway there’ll be fake Transactions that you can see going Through as they try to convince you that People are indeed getting paid Now most of these scams usually have a Timer on them as a pressure tactic to Make you think that you have to act Quickly what this means is that people Tend to make decisions in the moment Without considering the potential Outcome As mentioned these scams are pervasive On Twitter but they’re also well-known Features of other social media platforms Like YouTube and Instagram Etc In the case of YouTube scams they’re Usually simple live streams where you’ll Have a famous person or group of people Will be participating in a talk Now this is all stolen footage with the Instructions about how to enter the Competition displayed around it For those who have never come across These scams before they can be deceiving That’s because they have thousands of People who appear to be present in the Live streams however these are of course All Bots that are controlled by the same Scam operator As to how these channels are able to get

So many subscribers or the verified Status well that’s because they are Hacked channels Hackers commandeer these channels delete Their content and run the live streams In their place Beyond this though the scams sometimes Actually Buy ad space on the social Media platform they’re using now I’ve Seen these scam ads being run on YouTube And Instagram and this is also part of The reason why we decided to forgo ads On this channel we don’t want to risk Anyone falling for one of these scams But the best way to eliminate these and All other scams is for people to stop Falling for them now I’ve said it many Times before the reason that they’re so Prolific is because they are profitable No matter how many spam filters the Platforms attempt to throw on these The Operators will still try to make them Work so it’s incredibly important to Understand no one on the Internet is Going to give you something for free On to our next scam though and these can Be just as damaging Yes the rug pull now as the name Suggests a rug pull is when someone else Pulls the rug from under you Back in the heydays of icos back in 2017 These used to be called exit scams Whatever the name the mo is the same They rob you of your funds disappear and

Leave you holding the bag Now while back in 2017 the vehicle for This sort of fraud was an initial coin Offering or Ico today rug pulls are Quite prevalent in the nft and D5 spaces In the case of nfts the creators will Usually get someone to create pretty bog Standard images issue them in a mint Promise some exciting roadmap or pay Some influencer to show them and you’d Be surprised at some of the celebrities Who’ve been Shilling these types of nfts Recently Once the mint is completed and the People have their nfts the project Creators delete all websites socials and Digital Communications they pull the rug And leave you on your behind These rug pulls don’t have to happen all At once of course sometimes you have What is called a slow rug in this case The project developer slowly extricates Themselves from the project over a Number of weeks or months Their goal is for the buyers to Eventually lose interest and abandon Their hopes of moons and Lambos Now the slow rug is actually a lot more Common than the quicker one and can Sometimes be harder to Zone in on that’s Because you can’t be 100 certain that The intent was to defraud so how do you Avoid an nft rug pull well you’ll need To be a lot more Discerning in the types

Of nfts that you buy or the mints that You participate in now I’ll be straight Up here and tell you that over 95 of all Nfts are going to zero sorry to burst Your bubble however there are around Five percent that could be highly Valuable in the future and if you want To try and find those you have to be Particularly Discerning in your criteria This is something that I’ve covered in Much greater detail in my video on Finding the right nfts and that’s linked To in the top right Okay so that was nfts but you also have The rug pulls that are going on in the Defy space now these are a bit different From an Ico or nft in that instead of Sending a protocol money you have to Supply liquidity to the protocol This liquidity is usually used in a Decentralized exchange and you can get Pretty attractive returns from supplying Said liquidity During this time the creators will hype The project so that there’s a lot of Demand and hence liquidity in the pool This is done using the same page shill Methods that are used for the rug pull Nfts as more investors buy the hyped Cryptocurrency they progressively Exchange it for crypto such as stable Coins and ether Now when the project is live for a few Hours or days liquidity pools can run

Into tens of millions or even hundreds Of millions of dollars this is when the Rogue developers then strike and extract All the liquidity from the pool leaving Investors holding the bag for these Tokens The devs are sometimes able to do this Because they’ve not locked the liquidity In the pool they still control the smart Contracts and hence what can be done With the funds in the pool Now these are actually quite common and According to a report from chain Analysis last year we saw a total of 2.8 Billion dollars stolen in these types of Fraud you can see just how many there Were and the total value lost in Comparison to 2020 over here So how do you avoid a defy rug pull well This all comes back to broader due Diligence you’re going to want to make Sure that you’re not locking your funds Up in some random protocol don’t let Those deceptively High apis fool you You’ll also want to make sure that the Authors of the smart contract don’t Still have control over it this is Something that would allow them to Extract the liquidity and run off with Your funds beyond that though the due Diligence that you should be doing for a D5 project should not be any different From that you’d be doing on any other Crypto project one of the best ways to

Avoid potential scams is of course to Make sure that you’re not investing in Any coins and if you’re looking for A guide that can help you with that well Look no further than down in the Description Okay that’s rug pulls onto our next scam And this one can sometimes be quite hard To spot That’s the infamous phishing scam now These are not exclusively related to Crypto and have existed before to grab Important details from users details Like passwords and other credentials to Access important services They first started popping up in the Crypto space when they were used by Hackers to get access to people’s Exchange Account Details and steal their Funds from there however given how Secure these exchanges have become Recently the phishing schemes have Evolved to start targeting users Directly through their cryptocurrency Wallets perhaps one of the most damaging Of these is when they’re able to Successfully fish your private keys Now this could happen because the Scammers have exfiltrated the keys from Your device but it’s more likely when You have voluntarily given over your Private keys and one of the most common Ways of doing this is for the hacker to Fool you into handing over your mnemonic

Seed words These are usually used to recover your Wallets and they are never requested Unless you’re resetting your wallet Now there are a number of ways in which This can be done perhaps one of the most Common is when you’ll visit a website of Some sort where It’ll ask you to insert Your seed phrase in order to access it This is of course a scam as you should Never need to insert your seed phrase to Send funds from a wallet Please guys if you ever land on any Website that asks you for your seed Navigate away ASAP I’ll also say that leaving your seed Phrase on your PC in an electronic form Is a bad idea you may even be doing this Without knowing it as some iOS metamask Users learned recently Now another method of fishing your funds Involves the attacker actually giving You their seed word in this instance You’re usually being duped into going to A fraudulent website when trying to Download a new wallet when you go Through the process on this fraudulent Site the attacker will give you a seed Which you think is yours but is in fact Theirs you’ll then use this seed to set Up a new wallet which unbeknownst to you Is under the scammers control The moment that you have sent funds to The wallet the scammer makes off with

Them now sometimes these fake wallet Phishing schemes are able to also Buy ad Space on google so that their links are Presented before those of the real Wallet themselves not cool Now I’ll leave a link to this security Report that breaks down how it was done On the Phantom wallet last year but of Course this relates to any wallet that Requires a download so here’s a quick Rule of thumb never click on the ads That’s because it’s easy for a scammer To buy some ad space on keywords it’s a Lot harder for them to organically rank Above that of the original site itself Now there’s another really Sinister nft Related phishing method that’s become Quite popular recently this is where a Malicious dap masquerading as a Legitimate one will get you to Unknowingly approved token spends Essentially when you connect your wallet To these dapps and authorize them to Spend on your behalf that’s exactly what They do except not in the way that you Wanted Now this has happened to a surprising Number of nft holders for example last Year this ape collector lost access to 16 High value nfts or roughly 2.2 Million dollars when he approved a Fishing contract this also happened more Recently when it was disclosed that the Official board 8 Instagram account was

Hacked and a phishing link was posted The hackers were trying to take Advantage of the hype around virtual Land sales and required the users to Connect their wallets to claim of course This would have given the hacker token Spend approvals that would have allowed Them to make off with the contents Now there are plenty of other examples Of phishing attacks which are sadly too Numerous to mention so how do you avoid Them Well firstly you have to be very careful Which damps you’re giving authorization To you need to make sure that before you Sign any transaction you are on the Official website of the DAP and not a Malicious one it’s also wise to make Sure that you’ve not approved some dodgy Smart contracts in the past now you can Easily check this thanks to tools like This one on etherscan basically it shows You all the smart contracts that you’ve Given approvals to and when you can then Also decide to quickly revoke access to Those that you don’t know and protect Yourself in the future I’ll leave a link To it in the description for you fine Folks to come back to later anywho on to Our next scam to watch out for and that Is the impersonation scam This is when a scammer will try to get You to part with your crypto by yeah Impersonating someone else

And this is a personal bug bear of mine As I have thousands of impersonators out There trying to rip off my followers The reason why these scams can be quite Successful is because they try to take Advantage of someone else’s reputation a Reputation that inspires trust in others These impersonators are everywhere and On nearly every social platform for Example these scumbags will reply to my Tweets asking someone to DM them or They’ll Reach Out directly to the person That commented with a DM now I hate to Be rude but the chances of me dming you Are rather slim I have over 670 000 Followers on Twitter and if I was to Interact with every one of them on a Daily basis well I wouldn’t get anything Else done anyways these scammers are a Real problem because some people do fall For them I have received several emails In the past from people saying that I Have scammed them and that they will be Contacting the cops Now this is even more frustrating when You consider the fact that my Twitter Account is verified with a blue tick Something that should make it pretty Clear if you’re being scammed or not Now these scams also exist in other Forms on other platforms on Instagram And Tick Tock you have accounts that Reply to the comments with a number Asking people to Whatsapp them when you

Do this the scammer will usually say That I have some sort of investment Scheme or the like where you can double Your money in a week believe me when I Say I wish I had that ability Now of course when you send them the Money they tell you that they have Successfully generated your profit However there’s a catch you have to send Them a withdrawal fee or pay them their Cut of the profits first I’m sure you Can imagine what happens once you do That These scammers are also extremely Prolific in telegram for example as I Speak there are these telegram channels Over here that are impersonating the Coin Bureau not only that but they have More subscribers than my official Channel which of course throws some People off all bots of course They either offer VIP trading signals or A trading package that goes down similar Paths to the WhatsApp scam now the Amount of people we get emailing in and Telling us that they have been scammed By someone on telegram posing as me is Incredible Sometimes these people are fleeced for Over 40K Then again as is the case with our Twitter the telegram channel is verified Blue tick stick if it’s not there it’s Not ours but even if there was a person

Out there who you were 100 convinced was Me you have to go back to the very Beginning of this video I say it all the Time but I really mean it I am not a Financial advisor which means that I’m Clearly not qualified to trade your Accounts for you I will also never ask You to send me money capiche now I also Want to make it clear that we will never Reach out to you via email directly I Only send a once Weekly Newsletter and That’s it nothing more On occasion there have been projects That thought they were speaking to a Member of my team and buying sponsorship On the channel however they were then Quick to learn that they had been Scammed through a spoofed email yep Actual projects in the crypto space Falling for a run-of-the-mill email Header spoof As a side note projects should know that We don’t do any sponsored promos on this Channel so if anyone is offering to sell You these Services you are being scammed My friend Now of course I didn’t mean to make this All about me anyone in the crypto or Investment space who has a decent size Following will have impersonators trying To fleece their followers This just comes back to the simple edict If it sounds too good to be true then it Almost certainly is

On to the next scheme though and this is One for the ages I am of course talking About Ponzi schemes For those who don’t know what Ponzi Schemes are the simplest explanation I Can think of is when you rob Peter to Pay Paul essentially you create a system Where you sustain payouts from an Investment scheme of some sort by Bringing more money in from a stream of New investors Ponzis have been around in the Traditional Financial system for over a Century and have sometimes led to some Of the biggest Trad fire losses in Generations I’ll leave a link in the description to The video on perhaps one of the biggest Ponzi schemes ever you may find it Entertaining However these Ponzi schemes have taken On New Life in the crypto space and There have been thousands that have come And gone over the years The reason why these are able to grow so Quickly in this space is because of the Opaque nature of the markets People tend to believe that there really Is a cloud mining package lending scheme Or trading bot that is making the money On the daily Ponzis also tend to pay out pretty Believable returns this is part of the Design the more believable the stream of

Daily Returns the more likely people are To invest And as all good ponzis do these people Are initially paid this further creates The perception that it has to be true I Mean money in your hands must mean that Something’s legit right Now many of these Ponzi schemes also Rely on current members referring them To their friends and family for Additional Rewards These are called multi-level marketing Or MLM schemes and they are perhaps one Of the biggest red flags that something Could be a Ponzi scheme however with the Advent of defy the line between Ponzi Scheme and legitimate lending protocol Sometimes becomes blurred Some projects Implement tokonomic Structures that make selling the token Or unstaking a coin economically Disadvantageous this creates an Artificial demand as people are Dissuaded from ever selling Moreover the returns of those who are Invested can only be successfully Maintained if more people join the Staking protocol So how do you avoid falling for a Ponzi Scheme well it helps to take all of These guaranteed return investment Opportunities with a healthy dose of Skepticism you need to ask yourself how These potential returns compare to the

Market average if they’re consistently Above that then it should attract Suspicion You should also make 100 certain that You know exactly how this project or Protocol is generating those returns Sometimes the more complicated it sounds The more likely that there’s something Fishy going on in fact some of the Biggest Ponzi schemes in the world had Investment Theses that were incredibly Hard to understand or pin down In these cases Occam’s razor will serve You well the most likely explanation is That it’s a Ponzi Now the final scam that I want to talk About is the pump and dump pnd The name really says it all it’s when Insiders or other Market participants Will attempt to pump token increase its Price until a point at which this starts Gaining attention this will then create The perception that it’s a token of Interest on the market and others will Then jump in once that occurs though Those who bought before will dump said Tokens on the unsuspecting bag holders It’s a form of Market manipulation That’s sometimes used in the penny stock Space however given how easy it is to Move low-capped cryptocurrencies and the Perceived anonymity that comes with it The crypto markets have become Rife with Them now these pumps are usually well

Coordinated in places such as telegram Groups and you’ll find a lot of these if You search for them The participants in these groups will Usually find a Target cryptocurrency Accumulate the coins and then promote The pump to their subscribers this pump Is usually set to happen on a particular Day at a particular time Sometimes these participants will also Try to coordinate off of telegram and Shoulder token on other social media Platforms it’s worth also pointing out That it’s not always unsuspecting users That get burned by these pump and dump Scams sometimes the participants Themselves those late to the pump will Be dumped on It’s like a high-stakes game of chicken Except with coins It also goes without saying that it’s Completely illegal and I would highly Advise you to avoid all of these types Of groups okay but how do you spot some Pump and dump action in the wild well There are a number of rules of thumb That you can use a box ticking exercise If you will Firstly these pumps tend to happen in Low-cap altcoins I’m talking about the Type that you’ll find below page 200 on CMC These are usually easier to move given That smaller buying pressure is more

Likely to push them up Secondly you’ll want to observe exchange Listings if it’s on Shady Sexes or is on Dexes then it’s more than likely easy to Pump moreover those taking part are less Worried about getting busted because of The fact that they may not have been Required to complete kyc Thirdly if you notice that there’s some Sort of pump in the price taking place In a relatively unknown token and you Can’t find an exact reason why this Could be happening then it’s more than Likely the devil’s work I.E scammers And this actually brings me on to Another strong giveaway that something Could be a pump and dump and that’s Previous volumes and trading activity If the token has been in the doldrums For months but over the past few days Volume has slowly begun to pick up this Could be a clear sign of earlier Accumulation remember that the pump Operators will have to buy these tokens Before they pump them and these Accumulation waves are what you need to Be looking out for so if you see a coin Moving and it meets all of these Characteristics then don’t fomo in Unless you want to get wrecked and if You buy because you think you can profit From an outright pnd scam well shame on You And that’s it for my list of the top

Scams out there I hope that it’s able to Help you avoid falling victim to any of Them and do share this with as many People as possible so that they can also Avoid the heartache of lost SATs now are There any other scams that should have Been added to this list have any of you Fallen for any of these scams be honest Let me know in the comments below and While you’re tapping away at that Comment you absolutely have to check out My socials page this has the links to All of the official places that you can Follow me off the tube these all have Blue ticks and they include my telegram Channel where I share market analysis And Views Twitter where I share news and Other tips Instagram and Tick Tock for Behind the scenes views and memes and of Course my email newsletter where I share A breakdown of my personal portfolio as Well as a breakdown of some upcoming Videos If you want to help support the channel Then why don’t you grab yourself some of My epic merch I’m sure that there’s Something in my store that will tickle Your fancy And finally if you found this video fine Then fire up the likes don’t forget to Subscribe to make sure you are in line To receive my latest crypto Vibes oh and Hit that Bell as well we don’t want it To get lonely

That’s it for today my fellow crypto Fans this guy’s gotta fly [Music] Thank you