Cryptocurrency Related Scams Continue Offline

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As the cryptocurrency market soars to the moon, more and more scammers are popping up, hoping to take advantage of the influx of crypto newbies who want to buy into the market. While many companies have developed measures to fight against online scams, scammers increase their efforts by introducing their scams to the offline world.

Holding a cryptocurrency and blockchain meet-up is the current trend in the crypto space. These meet-ups involve newbies and crypto enthusiasts alike gathering to discuss the latest happenings in the industry. These meet-ups also serve as an avenue to establish connections—scammers, however, use it to collect victims.

A cryptocurrency meet-up group founder cites an example, recalling one of their past meet-ups, where an accountant claiming to be an expert at crypto asset accounting had interrupted a discussion during a meet-up to hand out flyers advertising her crypto accounting service. Later, it was found that she had zero experience in the crypto asset accounting field. James Moreau, the Worcestshire Ethereum meet-up group founder, said that the accountant had successfully convinced a number of newbies that she was the real deal.

Even meet-up organizers turn out to be scammers as well. A common scam would be when organizers would advertise a meet-up to discuss a certain popular coin but would end up only using that coin as a front to promote another relatively new altcoin, or worse, a “shitcoin.”

Scammers have other forms of deception outside of meet-ups, too. There have been a number of reports from enraged individuals complaining about being cold-called with bitcoin offers. Self-proclaimed “crypto experts” and “consultants” are also making their way in advertisements for their services.

Newbies to the crypto space would find it difficult to get through without bumping into a scammer. The only apparent solution is to DYOR—do your own research. HODL on and don’t let scammers discourage you from the potential of crypto and blockchain tech in general.

We call out scams every now and then, too. Keep posted by following us on our Facebook page!


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