Different sources suggest that about €8 million are lost every day due to scams in the crypto environment and the numbers continue to grow. A lot of victims who were targeted by cryptocurrency scams are thought to lack experience or judgement in the field. Despite the fact that cryptocurrencies have been in market for almost 10 years, the question “is bitcoin a scam?” still lingers on some minds. The easiest explanation for this is that individuals fear what they do not understand: the exponential growth of the blockchain technology, of the variety of new coins in the market, of products to invest in or cryptocurrency-based projects to be a part of. This becomes the perfect fuel for most of the scams and malpractices in the financial field.
November 11-17 has been officially declared International Fraud Awareness Week 2018, a global joint effort made by business and governmental institutions to minimize the impact of fraud by educating and providing anti-fraud material to different communities. SpectroCoin has teamed up with more than 400 organisations and is taking part in the ACFE anti-fraud campaign.
SpectroCoin is an all-in-one solution for cryptocurrencies founded in 2013. Over these 5 years of activity, we have built up a community of over 860,000 people and we are constantly working on making cryptocurrencies accessible for everyone. This not only allows our clients to have an easy and convenient experience on our website, but it also grabs the attention of scammers. At our company, we go to great lengths to keep our clients’ information safe. Lately, we have noticed a surge in fake SpectroCoin scam websites. Thus, today, we would like to present to you some practical precautions that you can take in order to avoid common scams and frauds.