May 6, 2022
Episode: How to Avoid the FIVE major Crypto Scams.
Introduction:
Stock Market Crash imminent.
Extreme Fear being driven by the system.
Fed has raised interest rates:
50 basis points = 0.5%
Fed getting ready to print more money.
20,000,000 BTC available in the world.
19,032,000 BTC have been mined.
Meaning:
Paper Hands…ready to fold.
Diamond Hands…strong holders of crypto.
Protecting Your CryptoCurrency:
Keep a Paper Record of your Seed Phrases, Password Phrases, Private Keys.
Multi-Sig Wallet (such NunChuk from Canada): More than one party to agree before crypto may be transferred.
Fear or Greed or loneliness drive vulnerability to scams.
Five Major CryptoCurrency Scams
1. Pig Butchering:
Someone starts to talk to you nicely and makes friends or a potential romantic interest (they are fattening you up) and then they ask for crypto or they ask you to invest with them.
Originally a Chinese scam.
2. Phishing Scam: #1 scam in Crypto. Another person is pretending to be somebody else in order to get your private information. Usually, they are very close to looking real.
Look for the “From” address.
Look at the address bar on each site that you are on.
Never give up your Password, Secret Passphrase or Seed Words.
Look for mistakes in the languaging of the message or email that is trying to scam you: “Do the needful”
Watch for complex “good cop / bad cop” techniques.
Do not give out your passwords or seed words out on Social Media (Telegram, Discord, Twitter, etc.)
3. AirDrops = free crypto dropped into your wallet
AirDrops Scam: a dusting attack (usually on Binance Smart Chain). A new coin will suddenly be in your MetaMask—could be a lot! But you cannot trade it in for BUSD or BNB. They’ll sweep everything out of your wallet once you hook up to their website where they say it’ll be easy to swap.
They cannot get your MetaMask coins that are in Smart Contracts.
Connect a hardware wallet to your MetaMask to add another layer of protection to your MetaMask.
4. Pump and Dump:
Shill or pump a new coin (token). Usually they recommend buying a particular token on a particular day.
Price is higher on the day of launch. You buy anyway. Then it drops and crashes as they dump the crypto.
5. Rug Pulls:
Longer term pump and dump scam. Conspiracy to defraud.
Anybody can create a crypto.
These two expose a lot of the scam coins:
CoffeeZilla
CryptoVigilante
Richard Hart’s HEX and PULSE is questionable.
We are not financial advisors.
We do not recommend putting your value behind ANYTHING that is Questionable.
Morpheus’ Picks of the Week!
Join Us for Black Sheep Summit III. June 3-5, 2022.
BSS: https://blacksheepsummit.com/
Feel free to share this show with your friends and family, because this is essential information.
Please watch all of our shows now hosted at: DefundTheMatrix.tv
Please Join our Public CryptoCurrency Telegram Messenger Group here (download Telegram Messenger or Telegram.org (http://telegram.org/) f
