{"id":2324,"date":"2022-01-19T16:13:35","date_gmt":"2022-01-19T13:13:35","guid":{"rendered":"https:\/\/evercodelab.com\/blog\/?p=2324"},"modified":"2022-07-27T11:05:08","modified_gmt":"2022-07-27T08:05:08","slug":"crypto-scams-how-to-recognize-them-avoid-them-and-fight-them","status":"publish","type":"post","link":"https:\/\/evercodelab.com\/blog\/crypto-scams-how-to-recognize-them-avoid-them-and-fight-them\/","title":{"rendered":"Crypto Scams: How to Recognize Them, Avoid Them, and Fight Them"},"content":{"rendered":"

The Evercode Lab takes pride in our reputation as the provider of one of the best White Label Wallet solutions available nowadays. We believe in blockchain and crypto. Thus, we hate crypto scammers. We view them as one of the crucial factors why many potential crypto investors and crypto owners are still scared of digital assets. On top of that, crypto scams are an obstacle to further growth of the web 3 industry. The more new owners crypto assets win, the more scammers join the game.<\/span><\/p>\n

Crypto Scams and Their Negative Consequences\u00a0<\/strong><\/h2>\n

2021 was a game-changing milestone not only for law-abiding businesses. Sadly, that year was also a breakthrough for crypto criminals and scammers. As the Chanalysis experts <\/span>stress,<\/span><\/a> last year, \u2018illicit addresses\u2019 received $14 billion! In comparison with 2020, $8 billion, it is an \u2018impressive\u2019 success.\u00a0<\/span><\/p>\n

It doesn\u2019t sound good! Especially, if you think of the victims. There is another <\/span>important figure<\/span><\/a>: between Oct. 2020 and April 2021, the US Federal Trade Commission said there were \u20187,000 victims.\u2019 How much did they lose? More than $80 million.<\/span><\/p>\n

The blockchain industry suffers from scammers in a variety of ways. First of all, in the light of this threat, some governments overreact and impose inadequate regulations on crypto. Some countries go as far as outlawing digital assets as a whole, which is insane.\u00a0<\/span><\/p>\n

Second,<\/span>\u00a0many investors get scared of crypto and scrap the idea of experimenting with it. For instance, as some American statistics show, 75% of those affected by crypto scams assume \u201cthey’re less likely to invest in the future.\u201d What is going to happen in this case to those fellows? Right, they will lose the race and won\u2019t make it to the web 3.0-driven age.<\/p>\n

That’s why we have decided to join many other companies and publish a post to say a couple of words about this danger and how to avoid it.\u00a0<\/span><\/p>\n

How to Define a Scam? <\/b><\/h2>\n

To begin with, \u201cscam\u201d means that, as a result of illegal activities, someone loses money which is grabbed by bad guys. How can it happen? As Investopedia correctly <\/span>says<\/span><\/a>, there are two general tricks:\u00a0<\/span><\/p>\n