Beware of scammers! Popular schemes of cybercriminals when buying/selling cryptocurrencies with a bank card

Cryptocurrency has been an integral part of not only the digital market, but also the real life of people for many years. Today, any user can become the owner of cryptocurrency assets without much difficulty. However, it is important to understand that cryptocurrency is popular not only among respectable citizens, but also among scammers.

One of the factors in the development of cryptocurrency fraud is their absolute anonymity and the implementation of transactions within the blockchain. In this way, scammers convince users to send them money, and then disappear forever in a secret cloud of code. In this article, we have selected the most popular fraudulent schemes for buying cryptocurrency using bank cards so that you can protect yourself from such incidents.

The most popular fraudulent schemes with cryptocurrencies

Scheme 1. One of the most common hacker schemes is the creation of fake websites of payment services, exchanges, cryptocurrency exchangers and investment funds, or in other words, “phishing”. Hackers can completely copy or create the design, text of the site and randomly send an authorization request on the resource in order to get user data and steal it.

Also, scammers can request fiat money or offer to exchange cryptocurrency for cryptocurrency and in return promise to pay funds to the user’s bank card, but this does not happen. They get the card details, then steal money from it and disappear without a trace. They can also send private messages to the user on behalf of the service with a request to help exchange funds in order to steal the user's funds.

Scheme 2. The next scheme of scammers is insecure mobile banking applications online. The user downloads the application from unreliable sources, uploads all confidential data there, connects bank cards and becomes as vulnerable as possible to hacks. Also, when installing such an application, the user can download a virus to his phone, which can read all the information that the device contains.

Scheme 3. Cryptocurrency pyramid or sale of non-existent goods, stocks and cryptocurrencies. Now investing is gaining particular popularity, but many inexperienced users fall for the bait of scammers on this. The fake website offers investment services in cryptocurrency stocks with further withdrawal of money for the investor, subject to payments to bank cards. The client is attracted by investment prospects and he sends money and card data in order to replenish his funds, but this does not happen.

Scheme 4. Creating hype around a little popular cryptocurrency (Pump and Dump). The organizers of this fraudulent scheme work in a team. They choose a cryptocurrency not from the top capitalization, but the one that is lowest in the ratings of world exchanges. They artificially create emotional outbursts around it, start buying this cryptocoin and assure everyone around that the coin is about to shoot up in price. Then, when people believed in this nonsense and purchased the coin, the team of attackers simply sell this coin and thus its price decreases.

How to protect a bank card from hackers?

Very often, users who have little knowledge of the privacy and security of their data and funds are led to hacker tricks.We have prepared a couple of key ways to help you avoid hacker schemes and save you your money:

• Do not save your passwords on social networks, and do not connect to unsecured wi-fi in public places;
• Choose a strong password and login for your bank cards, the more different characters there are, the more difficult it will be for a hacker to hack you. We also recommend that you change your password periodically;
• Never enter your bank card details on suspicious resources that do not have a secure https:// protocol;
• Do not send confidential information through social networks, as well as by e-mail;
• Do not enter card details in a pop-up window that may appear on top of the official site;
• You can only tell the PIN code to an ATM and at the checkout of stores, and CVV2, CVC2 - for payments on the Internet and verified cryptocurrency exchangers. In other situations, it is strongly discouraged to report this data. If you have any questions, always look for confirmation of the institution's formality;
• Connect an accompanying SMS that will inform you about payments, and you can also set a limit for online purchases;
• For online purchases, we also advise you to get a separate card, so as not to pay the main one.

How to understand that the selected exchange site is not a scam?

If you are one of the people who are also actively interested in cryptocurrencies and want to purchase or exchange some of them, but do not know by what criteria to choose a cryptocurrency exchanger, then we have prepared for your acquaintance the key aspects when choosing a reliable cryptocurrency exchanger:

• One of the most important aspects is the presence of the https:// protocol in the upper left corner of the site, which means that the site has been checked by all the necessary security services;
• The platform must have a sufficient number of real reviews, both among customers and on other independent sites;
• There must be a privacy policy and user agreement;
• The user must be aware of the date and place of registration of the platform, which must be available at any time 24/7;
• The presence of pages of the exchanger on other sites that are actively maintained;
• And the most mandatory aspect is the verification of the user's personal data.

Why is user data verification important?

This means that the resource uses a specialized identity verification service that checks only one parameter - that you are a real person, not a robot. Your actions are expedient and not of a criminal nature. Otherwise, the possibility of getting into the system and into the client part of the service is excluded. Verification of the user's identity can be requested by the administration if necessary and only on the official page of the service.

Our exchanger Coin24.io is one of those services that require verification. This means that we maintain an honest attitude towards all clients without exception. We prevent attempts to buy or sell cryptocurrency using someone else's or stolen payment cards. Card verification allows you to make sure that this card really belongs and is with the client, who is currently making an order to buy / sell bitcoin or other cryptocurrency. Verification is carried out only once for each of the payment cards used by the client. For verification, card details are used, which do not give access to the client's funds.

We advise you to consciously approach the choice of an exchange platform and be able to distinguish a scam from a reliable service!