Cryptocurrency is the most common digital currency that is used for online trading, and its physical shape does not exist. Similar to other online investment means, cryptocurrency trade is also not exempted from fraud. In 2018, the total scams through cryptocurrency were $ 1.7 billion. Looking at the success cryptocurrency had in the recent past, other kinds of digital currencies and wallets are invented. And with these new inventions, the scams and fraudulent in the cryptocurrencies are increased many folds. Ponzi scheme is a technique in which old investors get money when new investors start investing. In this scheme, the money keeps on revolving around the investors, and there is no profit gained to anyone.
The scams mentioned above are not ‘all.’ There are a lot of other ways through which a common person may get scammed. Anyone who thinks to invest in online platforms might be their victim. Among other kinds of online scams, online dating//romance scam is the most common. Almost everyone can be the victim of this scam. Women are the most common prey of these kinds of scams. And the scammers are mostly men. They attack emotionally on the women to get money from them. Usually, the reasons are told as the emergencies, and thousands of dollars are scammed.
