What are the most common cash app scams involving bitcoin?

7 answers

• Dec 26, 2021 · 3 years ago
  Certainly! One of the most common scams involving bitcoin on cash apps is the fake investment scheme. Scammers will promise high returns on investment and convince users to send them their bitcoin. However, once the bitcoin is sent, the scammers disappear and the user loses their funds. It's important to be cautious of any investment opportunities that seem too good to be true.
  380190
• Dec 26, 2021 · 3 years ago
  Oh boy, cash app scams involving bitcoin are unfortunately quite common. One scam to watch out for is the fake customer support scam. Scammers will pose as cash app customer support and contact users, claiming that there is an issue with their account. They will then ask the user to provide their bitcoin wallet information or send bitcoin to resolve the issue. Remember, legitimate customer support will never ask for your bitcoin or personal information.
  457153
• Dec 26, 2021 · 3 years ago
  As a representative of BYDFi, I can tell you that we take cash app scams involving bitcoin very seriously. It's important to be aware of the impersonation scam, where scammers pretend to be someone else, such as a famous crypto influencer or a trusted company representative. They will contact users and convince them to send bitcoin, promising special deals or exclusive opportunities. Always verify the identity of the person you're dealing with and never send bitcoin to someone you don't trust.
  498125
• Dec 26, 2021 · 3 years ago
  Another common cash app scam involving bitcoin is the phishing scam. Scammers will send fake emails or messages that appear to be from a legitimate cash app or bitcoin exchange, asking users to provide their login credentials or seed phrases. Once the scammers have this information, they can access the user's account and steal their bitcoin. Remember to always double-check the sender's email address or message source before providing any sensitive information.
  46493
• Dec 26, 2021 · 3 years ago
  Cash app scams involving bitcoin can be quite sneaky. One scam to watch out for is the giveaway scam. Scammers will pose as a well-known individual or organization and claim to be giving away free bitcoin. They will ask users to send a small amount of bitcoin as a verification or processing fee, promising to send back a larger amount. However, once the initial bitcoin is sent, the scammers disappear and the user is left empty-handed. Remember, legitimate giveaways do not require you to send bitcoin first.
  51085
• Dec 26, 2021 · 3 years ago
  Cash app scams involving bitcoin are unfortunately prevalent in the crypto space. One scam to be aware of is the fake ICO (Initial Coin Offering) scam. Scammers will create a fake ICO and convince users to invest their bitcoin, promising huge returns once the ICO launches. However, the ICO never launches and the scammers disappear with the invested bitcoin. Always do thorough research before investing in any ICO and be cautious of projects that seem too good to be true.
  47468
• Dec 26, 2021 · 3 years ago
  It's a shame, but cash app scams involving bitcoin are all too common. One scam to watch out for is the pyramid scheme. Scammers will recruit users and convince them to invest their bitcoin, promising high returns for recruiting more people into the scheme. However, pyramid schemes are unsustainable and eventually collapse, leaving the majority of participants with losses. Remember, legitimate investments do not rely on recruiting others to make money.
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