### **Main Types of Cryptocurrency Scams**

1. **Fake exchange platforms**:

- Creating sites that resemble famous trading platforms (like impersonating Crypto.com or Bit2Me) to steal user data or funds.

- Example: The site **Bit2meprojil.com** that deceived investors out of more than a million dollars through investment programs yielding 30% in 60 seconds, then requested "risk fees" before disappearing.

- Another example: The Turkish **Thodex** where its founder disappeared in 2021 with $2 billion of user funds.

2. **Fake investment schemes**:

- Promises of unrealistic returns (like 200% in 15 months) without real basis.

- **NovaTechFx** and **AWS Mining**: Targeted Haitian immigrants in New York through WhatsApp groups, embezzling over a billion dollars. Less than 3% of the funds were actually traded, the rest was a pyramid scheme.

- **OneCoin**: The largest scam in history ($4 billion) presenting itself as the "Bitcoin killer", while it did not rely on real blockchain technology.

3. **Rug Pulls**:

- Developers disappearing after collecting funds from investors.

- **AnubisDAO**: Raised $60 million in 2021, then transferred the funds to an unknown address within 24 hours.

- **Squid Game Token**: Exploited the popularity of the Netflix series, raised $3.3 million before the developers absconded with the liquidity.

4. **Romance scams**:

- Impersonating romantic or professional identities via social media to push victims to invest in fake platforms.

- Example: The site **Unktlife.com** where a victim lost $550,000 after meeting a "model" via WeChat.

- According to the FBI, the average losses for victims reach **$178,000** per person.

5. **Phishing/Impersonation**:

- Sites mimicking legitimate wallets or cryptocurrency exchanges to steal login data.

- Example: **CryptoComSite.com** and **crypto-tradingure.top** which impersonated Crypto.com.

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### **Worrying Statistics**

- **79% increase** in cryptocurrency crimes in 2021, with record losses reaching **$14 billion**.

- **45% increase** in losses in 2023 compared to the previous year, totaling **$5.6 billion**.

- According to **Solidus Labs**, **15 fraudulent tokens** are discovered every hour.

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### **Protection and Prevention Mechanisms**

1. **Verifying platforms**:

- Ensuring exchanges are registered with regulatory bodies (like **BrokerCheck** in the United States).

- Avoiding unapproved apps or those requesting the installation of untrusted software.

2. **Beware of "fantasy" offers**:

- Rejecting any promises of guaranteed or excessively high returns (like 30% weekly).

- Fake profit testimonials from "successful investors" are often part of the scam.

3. **Identity and fund protection**:

- Not sharing private keys or wallet recovery phrases.

- Using updated antivirus programs (like Kaspersky which blocks known phishing sites).

4. **Verifying online relationships**:

- Not investing based on advice from unknown individuals, even if you communicate with them via video.

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### **Notable Legal Actions**

- **New York**: Suing NovaTechFx and AWS Mining in 2024, seeking to ban them from operating in the state.

- **FTX founder, Sam Bankman-Fried sentenced**: 25 years for embezzling $8 billion from platform clients.

- **Turkey**: Interpol issued a "Red Notice" for the founder of Thodex, demanding a 40,564-year prison sentence.

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