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*Beware of Scams on Telegram and Web 3.0!*
Overview of the Situation:
Problem Description:
Scams in Web 3.0: Many Telegram platforms, which have a huge following, promote investment opportunities in Web 3.0 (the next generation of the Internet, which involves blockchain and open source technologies) These developments are common is a deception.
Your Friend's Experience: Your friend invested $10 in a cryptocurrency promoted by one of these platforms. Within a week, the deposit seemed to have grown to $40,000. But while trying to sell the property, their account was closed without explanation, they were unable to exchange the property on a platform like Web 3.0 or Trust Wallet and eventually the scammer disappeared and your friend lost his money.
Key Points to Understand:
1. Role of Binance and Trust Wallet:
Binance: Binance is the leading cryptocurrency exchange that provides a platform for trading a variety of digital assets. It has a role in testing and registering tokens but cannot take direct responsibility for the fraudulent schemes promoted outside its platform.
Trust Wallet: This is a cryptocurrency wallet that allows users to store, manage and exchange various cryptocurrencies. Issues with wallet credit, such as the inability to move or exchange funds, can compound problems when dealing with questionable assets.
2. Scam Mechanics:
Promotion Tactics:Scammers use widely followed tactics to create the impression of legitimacy and attract investment.
Locked accounts: Fraudsters often lock accounts so that users cannot withdraw or sell their assets once the fraud is discovered.
3. Responsibility and Prevention:
Platform Responsibility: While platforms like Binance and Trust Wallet have security measures in place, it may not always be possible to detect or prevent fraud promoted through external channels.
User Vigilance: Investors should be wary of promises of high returns and do thorough research before investing. The scams often involve promises of quick and substantial profits that sound too good to be true.
4. Awareness and Reporting:
Spreading awareness: Sharing experiences and warnings on forums like Binance Square (a community or discussion forum linked to Binance) can help warn others and prevent them from falling for similar scams.
Reporting Scams:Reporting suspicious tactics and fraudulent activities to the relevant authorities and event administrators is essential to prevent such fraud.
Call to Action
Be Cautious: Always be wary of investment opportunities promoted through unauthorized and unverified media.
Verify information: Check for available funding opportunities and trusted venues and events.
Report Issues: If you encounter suspicious activity, report it to the conference and relevant authorities.
Spread awareness: Tell others about potential fraud to help protect communities.
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