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FAQs
Before donating money by using cryptocurrency, do an online search of the wallet address. Confirm that you're sending money to the real address. Anyone can create websites and social media posts requesting that you donate with cryptocurrency.
How do crypto giveaway scams work? ›
In these scams, fraudsters promise to give away cryptocurrency or other valuable items to people who follow, like, comment, or retweet their post. However, the giveaway is fake, and the scammers use this as a pretext to steal people's personal information, cryptocurrency, or other assets.
How can I donate without getting scammed? ›
Before donating, do your own research and be aware of possible scams: Confirm the organization is legitimate. Watchdog groups like CharityWatch, CharityNavigator, Candid, and the BBB Wise Giving Alliance are good places to start. Check registration.
Can you get money back from crypto scams? ›
Cryptocurrency payments typically are not reversible. Once you pay with cryptocurrency, you can only get your money back if the person you paid sends it back. But contact the company you used to send the money and tell them it was a fraudulent transaction.
How can you tell if someone is a crypto scammer? ›
Scammers make big claims without details or explanations.
Before you invest in crypto, search online for the name of the company or person and the cryptocurrency name, plus words like “review,” “scam,” or “complaint.” See what others are saying. And read more about other common investment scams.
Can crypto scams be traced? ›
Yes, contrary to popular belief, most cryptocurrency is traceable with the right tools and expertise.
How do I know if a donation is legit? ›
Search online for the cause you care about — like “hurricane relief” or “homeless kids” — plus phrases like “best charity” or “highly rated charity.” Once you find a specific charity you're considering giving to, search its name plus “complaint,” “review,” “rating,” “fraud,” or “scam.” If you find bad reviews, it might ...
What charities are frauds? ›
Here are some of the worst offenders:
- Kids Wish Network.
- Cancer Fund of America.
- Children's Wish Foundation International.
- American Breast Cancer Foundation.
- Firefighters Charitable Foundation.
- Breast Cancer Relief Foundation.
- International Union of Police Associations, AFL-CIO.
- National Veterans Service Fund.
The answer is: Yes, you could—because it's a crime. Specifically, such theft is among many types of crimes that are classified as white-collar crimes.
Who investigates crypto scams? ›
The MIMF Unit is a national leader in prosecuting fraud and market manipulation involving cryptocurrency.
What Is a Cryptocurrency Romance Scam? A cryptocurrency romance scam is an online scheme where a cybercriminal forges romantic relationships through online platforms to trick people into handing over crypto assets.
What to say to someone who got scammed? ›
Supporting a Friend or Loved One Who's Been Scammed
- Provide a listening ear and offer non-judgemental empathy and support. Your friend is likely already judging themselves, so they don't need judgement from anyone else. ...
- Remind them that they are not dumb. ...
- Help them focus on what they can do.
In cases of cryptocurrency scams, it is possible for the scammers to face legal consequences, including potential jail time, depending on the jurisdiction and the severity of the scam. However, the process for reporting and seeking justice can vary from country to country.
How do crypto scams start? ›
To get started, the scammers request an upfront fee. Then, instead of making money, the thieves simply steal the upfront fees. The scammers might also request personal identification information, claiming it's to transfer or deposit funds, and thus gain access to a person's cryptocurrency.
Are crypto giveaways legal? ›
Crypto giveaway scams are a form of fraud that leverages social media and phishing campaigns to gain crypto-enthusiasts' trust with the promise of high-yield giveaways.
Is the Coinbase giveaway real? ›
Learning rewards is a legitimate method for earning cryptocurrency and any giveaways that Coinbase offers will direct you to Coinbase.com. Coinbase will never ask you to send crypto to an address in order to receive crypto back. Never send cryptocurrency to giveaways under the guise of address verification.
