Cryptocurrency investment scams are not new, but they are becoming more advanced and sophisticated in getting you to believe they are the actual project and convincing you to give up your hard-earned money. So, in this article, we will look through some of the best ways to check you are spending your money wisely and with the correct projects instead of falling for a cryptocurrency scam.
How to Avoid Crypto Project Scams
Are You Using the Real BH Network Hub?
Sometimes, it can be easy to spot fake crypto projects, but that is not always the case. The first thing that you should always remember is that the crypto space is huge. Therefore, you should always DYOR (Do Your Own Research) and never just take the word of someone else – even if you think they are legitimate cryptocurrency investors.
So, what should you check before you send your money to someone?
Website URL and Domains
Often, the first place that you are likely to get scammed is through a website that, at first glance, looks identical to the website you want. However, there are a few telltale signs that you should always be on the lookout for that will hopefully save you from being scammed.
URLs of Crypto Project Scams
You should first check the actual URL of the website you want to visit. For example, suppose you are searching for BH Network, BHero, or any other cryptocurrency project. You may see adverts or other pages at the top of the search instead of the website you are looking for – do not assume that these are the correct website because that is what you searched for.
If, for example, you searched for BH Network, you may see websites in the search engine such as:
- Or any other combination that looks very similar to the actual URL.
These are all fake (or different websites with no correlation), and people may have created them intending to scam you.
SSL Certificates and HTTPS
The SSL certificate and HTTPS secure connection are the first things you should check when visiting any website – it is an almost sure sign that someone can steal the data you are entering onto the website.
NEVER enter any data or information onto any website that does not show the secure server connection status. Also, do not take it for granted that a secure connection means it is not a scam website; continue reading to find out what else to look for in the event of a scam site showing the correct connection status.
Visual Website Aspects
The BH Network team is constantly on the lookout for scam websites that try to be us, and we have had all of the ones found so far removed. However, it is possible that, at one point, you may find yourself on a website that you think is the correct one.
Scammers are getting very good at copying websites, and it can be difficult to find obvious visual signs that you are on an incorrect website. However, always keep an eye out for visual mistakes such as:
- Incorrect logo (outdated, etc.)
- Different images
- Different layouts of web elements
- Poor quality (white lines around the logo, etc.)
- Any other visual aspect that doesn’t look right.
Internal and External Website Linking
Another thing that you should check for if you are on a website that you think is the real one is the links on the page.
Often, scammers will only make certain parts of the website work, such as the data collection (sign-in) or payment links. Official website owners (should) take great care in maintaining their linking system and ensuring all links operate correctly.
There are two main things that you should check with website links:
- That they point to the correct URL. Some browsers, such as chrome, will show you the URL you will visit when you hover over them.
- The links work – if they do not, it is likely a scam site.
Remember to check for non-standardized letters in the URL links, such as ă, â, ț, etc.
Fake Cryptocurrency Project Social Media Pages
As with fake websites, BH Network is continually on the lookout for fake social media accounts impersonating us, and we have already had several removed. However, it may still be possible to find some fake cryptocurrency social media pages intending to scam you.
If you are on official social media websites such as Twitter, Reddit, Facebook, etc., then you are safe at the time. However, links on fake social media pages can easily take you to a phony website.
Always check the URLs, as discussed earlier, to ensure that you are not on a scam page or directed to one.
Telegram Group Names and URLs
Telegram groups are excellent tools for providing information about your cryptocurrency project. However, it is also a haven for scammers trying to trick you into giving them money.
If you can, always use an official link from the real website to join a Telegram group. If there is not a link, or if someone invited you to a group, always check the Telegram URL by doing the following:
- First, click on the group name at the top of Telegram.
- Then, look at the “share link” section.
- Make sure it looks like the correct URL.
That can sometimes be difficult if you do not know the official URL. However, if it looks strange, it is probably wrong. For example, the name of our Telegram group is BH Network, and the URL is https://t.me/bhnetwork.
If you see others such as:
- Or any others
Check what the correct URL is by going to the official website.
While fake websites and social media sites are real threats, phishing attacks on social platforms such as Telegram are the most common attempts to get personal information and money from victims.
Phishing scams are one of the most common ways for scammers to try and extract money or personal information from people. These scams typically happen through messaging platforms like Telegram, where the scammers will pose as someone from a legitimate organization and attempt to get the victim to give up sensitive information such as passwords or account numbers.
To avoid falling victim to a phishing scam on Telegram, it is important to be vigilant and check the URLs of any messages that you receive. Pay close attention to whether they look legitimate or not, and never give out your personal information unless you are absolutely sure that it is a legitimate request.
Another thing to watch out for with Telegram phishing scams is fake cryptocurrency-related websites or social media pages. These scammers will often create fake accounts that look very similar to the real ones, and then use them to try and convince people to give up their personal information or send money in exchange for “free giveaways” or other promotions.
If you suspect that you may have come across a phishing scam on Telegram, it is important to report it immediately. This will help to protect others from falling victim as well. You can do this by reporting the message to the platform or contacting your local law enforcement agency. With vigilance and caution, you can help to keep yourself safe from Telegram phishing scams!
We have listed some of the best ways to check that you are staying as safe as possible while using Telegram cryptocurrency channels.
Check Admin Usernames
When you are on the correct Telegram channel, research and make a note of the official usernames of the development team. Many crypto scams will duplicate the information of legitimate companies and bad actors will impersonate admins and team members – even so much as to use the same profile photo and a very close username. For example, using a “_” instead of a “.” or similar.
For a scam project to be successful, the admin or admin group must have unlimited access with full control of every channel’s content.
The first step in checking if an admin username is legitimate is to do a quick search for that account name on social media sites like Twitter, LinkedIn, Facebook, etc. If the account name is not found on any social media site, that’s a red flag. Also, be sure to check if the account name is spelled correctly. Many scammers will create fake accounts with similar spellings in order to trick users.
If you’re still not sure whether or not the admin account is legitimate, you can always reach out to the team directly and ask them for more information. Legitimate projects will usually be happy to answer any questions you have.
Personal messages from people pretending to be admin are one of the most common crypto scams. They often promise big returns if you invest in a certain cryptocurrency or blockchain project. However, these schemes are nothing more than a scam, and you will likely lose your money if you fall for them.
Scammers will often target groups of people with their personal messages, pretending to be an admin or a trusted member of the group. They may try to answer questions in private in order to gain people’s trust and convince them to invest in a certain cryptocurrency or blockchain project. However, these schemes are nothing more than a scam, and you will likely lose your money if you fall for them.
Admin members of legitimate groups will NEVER PM YOU FIRST.
One of the most common ways for scammers to try and gain information or steal funds is through using an account that looks like a bot, such as “HELPDESK” or similar.
If you receive a message from a “helpdesk” or “Admin bot” or any other account that you have not requested, no matter how legitimate it looks, always check on the real public chat before sending any information to them and a moderator or admin will help you.
One of the less common cryptocurrency scams that people are starting to see now is people calling you to push you into providing information. Again, all good, legitimate crypto projects should understand the necessity for privacy so they will NEVER RING YOU.
Stop Yourself Being a Victim of a Cryptocurrency Scam
As a recap, here are some things that you should always keep in the forefront of your mind:
- Make sure you are using the correct website.
- Check the Social media URLs – including Telegram.
- Check admin usernames.
- Never trust accounts that send you a message or call you first.
- If something seems too good to be true, it probably is.
- Never give anyone your seed phrases – EVER!