Understanding crypto fraud
Cryptocurrency presents unique challenges. On the one hand it digitizes payments, transactions and trading; on the other, it opens new avenues for fraud. Unlike chargebacks, which involve transparent credit-card processes and consumer protections, crypto transactions occur pseudonymously on blockchain networks.
The persons behind the transactions are anonymous, and detailed blockchain transaction analysis is required — especially as funds pass through multiple wallets and mixers during money laundering. ORVION’s certified investigators specialise in exactly this kind of cross-chain tracing.
Common Types of Crypto Fraud
Fake Social Media Trading Scams
Criminals create fake profiles impersonating successful traders to lure victims into depositing funds on fraudulent platforms.
Fake Crypto Wallets
Malicious wallet applications designed to steal your private keys and quietly drain your cryptocurrency holdings.
Fake ICOs
Fraudulent Initial Coin Offerings that collect investor funds with no intention of delivering a legitimate product.
Crypto Phishing Scams
Deceptive emails and clone websites that mimic legitimate platforms to steal your login credentials and keys.
Stay Safe: Warning Signs
- Avoid unregulated brokers and exchanges
- Be wary of unrealistic, guaranteed return promises
- Watch out for unverified ICO and token platforms
- Never share your private keys or seed phrases