The lack of regulation, media interest, the rapid rise in price, which attracts hundreds of investors who want to get rich quick, are reasons as a lure for criminals. There are also hoaxes on social media and coin mining for cash.
Here is a list of five tips to avoid falling into possible scams related to the cyptosphere:
1. Do not provide personal data to an entity that contacts you without having requested it, through an email, a text message or social media etc. Fraudsters can even impersonate friends and contacts.
2. If something is too good to be true, it is usually dangerous or risky to invest in it.
3. Enable two-factor authentication for any crypto account.
4. Rule out any investment "opportunity" that requires an upfront payment
5. Do your research: The most popular cryptocurrencies are no scams. But if you haven't heard of a particular cryptocurrency, research it - see if there is a white paper you can read, find out who runs it and how it operates, and look for genuine reviews and testimonials.