Crypto Related Frauds that Take Place on Tinder
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As technology continues to advance, online scammers are finding creative ways to defraud gullible victims. Two methods have been identified that have become popular with scammers.
runs the popular dating app Tinder and uses local agencies to support their projects. In this article, we will dig deeper into the mechanics of these crypto scams and give essential advice on how to protect yourself against them.
Tinder-based crypto scams.
Tinder, a widely used dating app, has become a breeding ground for crypto scammers. They create fake profiles, posing as successful traders or investors, to trick their target into buying cryptocurrencies like USDT from peer-to-peer (P2P) platforms like Binance P2P or similar services. These scammers claim to hold inside information that can generate huge profits, eventually convincing their victims to deposit funds into scam platforms.
Victims may be suspicious at first, but ingenious scammers allow them to make money through trading or other means of establishing trust. When the victims feel safe, they withdraw their hard earned money and invest all their savings in the platform. At this point, the scammers attack, steal the money and disappear without a trace. Unfortunately, victims often don't realize they've been duped until it's too late. Crypto scam involving local dealers.
Another method scammers employ is to hire local agents to collect money from customers, offering them 10-20% commissions. The dealer then uses the rest of the funds to buy USDT, which is then sent to the scammer. By convincing their victims to deposit money to a local financial agent, the scammers create a legit facade.
However, the scheme constitutes both money laundering and fraud, with local dealers facing serious criminal charges if caught.
Protect yourself against crypto scams
To protect yourself from these types of scams, it's important to be vigilant and do your due diligence. Here are some tips to help you avoid becoming a victim:
1. Beware of anyone who promises easy money or guaranteed profits.
2. Be cautious when asked to deposit funds into unknown platforms or accounts.
3. Do thorough research on the company or person you are interacting with, including reading reviews or testimonials from others who have used their services.
4. Beware of deals or offers that seem too good to be true.
5. Use strong passwords and enable two-factor authentication on all your accounts.
6. Immediately report any suspicious activity to the relevant authorities.
To Summarize
Online scammers are constantly coming up with new ways to trick people and separate them from their hard earned money. Unfortunately, they have now infiltrated popular platforms like Tinder and are using local agents to execute their plans. By being cautious and doing thorough research, you can protect yourself against these scams. As the saying goes, if that sounds too good to be true, it probably is.
Author: Pooyan Ghamari, Swiss Economist
