The article discusses three common cryptocurrency scams and how to protect investments from them. The first scam involves fake initial coin offerings (ICOs) that appear legitimate but do not have real technology or support. They raise funds but ultimately lead to vanished developers and empty wallets. An example is given of Centra Tech, which claimed to have partnerships with Visa and Mastercard but turned out to be false.

The second scam discussed is fake wallet scams, where scammers trick users into thinking a digital wallet is genuine and steal their cryptocurrency. An example is given of a fake Trezor wallet app on the Google Play Store.

The third scam mentioned is crypto Ponzi schemes, where high returns are promised but are actually funded by new investors. Eventually, the schemes collapse when unable to recruit enough new investors. An example is given of Bitconnect, which guaranteed returns of up to 40% per month but was revealed to be fraudulent when operations ceased.

The article emphasizes the importance of verifying any cryptocurrency opportunity before investing and highlights that knowledge is the best defense against fraud in the crypto landscape.



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