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Crypto scam: Coinbase warns Gen Z about growing online threats

Author: Content Editor
Coinbase has highlighted the rise of online scams targeting younger users, specifically Generation Z, in a blog post. The four online threats that Gen Z should be aware of include social media fraud, romance scams, fake websites, and recovery schemes. Unlike traditional banking, where institutions offer security, crypto owners are responsible for securing their assets. One major scam involves fraudsters creating fake profiles on social media platforms, such as Instagram and TikTok, to promote fake investment opportunities. Romance scams, where scammers exploit victims financially after forming personal connections, are also a growing threat. Scammers also use fake websites to trick victims into providing personal information or sending funds. Coinbase stresses the importance of awareness and reporting suspicious activity to prevent others from falling victim to scams.

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