With all the people getting scammed I put together a list of the most common scams

Day after day, week after week, we continue to see a large amount of people getting scammed through various ways in this space so I compiled a list of the different types of scams that you may encounter in this space hoping to save a few of you from experiencing this. I also want to explain the difference between being scammed and being hacked.

Hackers use their technical ability in information technology to gain access to computers, devices, and accounts of their victims. Scammers on the other hand, trick their victims into giving them the same access.

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Front Runner Bot Scams listed on Youtube (For PancakeSwap and other chains). (credit to u/duckyhs)

If you see that younger douchey looking white kid with the stupid mustache walking you through it, report his youtube account. It seems he keeps creating new accounts, paying for positive comments and will delete any criticisms calling his scam out. Others have popped up in his place and are now asking for more BNB on set up versus .3-.5 before.

Reference video calling him out: example

DM Scams (credit to u/jarviez)

People will ask technical questions on reddit and other forums about things like setting up wallets, generating seeds, or other technical and security issues.

Real and helpful answers should always be made in the comments ware they are publicly available, as will any discussions/replies to comments.

There is absolutely zero need to DM someone who is asking for help because if you have a helpful response it should be posted publicly for everyone to see.

But when I asked for help on a sub recently, I got a handful of unsolicited DMs, all of them super suspicious. I marked all as spam and didn't reply, but others might not be as diligent.

Cryptocurrency giveaway scams DM Scams

There are many fraudulent posts on social media outlets promising bitcoin giveaways. Some of these scams also include fake celebrity accounts promoting the giveaway to lure people in.

However, when someone clicks on the giveaway, they are taken to a fraudulent site asking for verification to receive the bitcoin. The verification process includes making a payment to prove the account is legitimate.

The victim can lose this payment -- or, worse yet, click on a malicious link and have their personal information and cryptocurrency stolen.

How to spot a giveaway scam

Phishing scams

Phishing scams have been around for ages but are still one of the most effective. Emails sent by scammers with malicious links to a fake website to gather personal details, such as wallet key's.

This is why it is important to never store your keys on a digital device such as a computer, phone, tablet, etc. Make sure your keys a secure off line via paper, stamped on metal, or some other creative way to keep your keys safe. NEVER SHARE YOUR KEYS

To avoid phishing scams, never enter secure information from an email link. Always go directly to the site, no matter how legitimate the website or link appears.

More on Phishing Scams

Romance scams

Ah yes can't forget the good old "Romance Scam", I'm sure you heard of this one by now. These scams involve relationships -- typically long-distance and strictly online -- where one party takes time to gain the other party's trust. Over time, one party starts to convince the other to buy or give money in some form of cryptocurrency.

After getting the money, the dating scammer disappears. These scams are also referred to as "pig butchering scams." as you can read more about here in this link Pig Butchering Scam

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Man-in-the-middle attack

Careful when logging in to a cryptocurrency account in a public location, scammers can steal their private, sensitive information. A scammer can intercept any information sent over a public network, including passwords, cryptocurrency wallet keys and account information.

This is why it is important to use a VPN when browsing the internet, AVPN will encrypt your data therefor not allowing the sensitive information to be collected. If you don't use one I highly recommend you looking into one.

How a VPN can help you

Rug pull scams

Rug pull scams involve investment scammers "pumping up" a new project to get funding. After the scammers get the money, they disappear with it. The coding for these investments prevents people from selling the bitcoin after purchase, so investors are left with a valueless investment.

Squid coin scam I'm pretty sure you all remember this one, created with the same outcome as the series Squid Game. Investors took part in a play to earn cryptocurrency game: People would buy tokens for online games and earn more later to exchange for other cryptocurrencies. The price of the Squid token went from being worth 1 cent to about $90 per token.

I'm sure you know how this one ended. One the investors were unable to sell their tokens and trading was stopped the scammers made off with a little over $3 million.

What is a Rug Pull and how to spot one

Ponzi schemes

This would probably be the most know type of scam around. Ponzi schemes pay older investors with the proceeds from new ones. To get fresh investors, cryptocurrency scammers will lure new investors with bitcoin. It's a scheme that runs in circles, since there are no legitimate investments; it is all about targeting new investors for money.

The main lure of a Ponzi scheme is the promise of huge profits with little risk. There are always risks with these investments, however, and there are no guaranteed returns.

More in depth on the Ponzi Scheme

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EDIT: PLEASE FEEL FREE TO ADD MORE TO THIS THREAD TO HELP OTHERS BEAWARE LIKE THE FIRST POSTER MENTIONED THERE ARE ALOT MORE THAN WHAT I COVERED AND THEY ARE BECOMING BETTER AND MORE CREATIVE OVER THE YEARS AND AS WE GROW.