An advance fee scam in cryptocurrencies involves fraudsters promising large returns or lucrative deals, such as investments in property, loans, or unlocking a big payout, but requiring the victim to send cryptocurrency upfront as a "fee" or "deposit."
The explanations and payment methods change but the basic method remains the same; You are asked to pay money now to get more money later.
Once the sum is paid, the scammer disappears, and the victim never receives the promised returns or funds.
How to prevent this type of fraud from happening:
Be very skeptical of unsolicited offers: Avoid any unsolicited messages or emails that promise high returns, especially related to property investments or loans or winning an airdrop.
Do thorough research: Verify the legitimacy of the person or platform requesting the fee. Look for reviews or warnings online.
Never pay upfront: Be wary of any request for payment in advance, especially if it's tied to promises of future rewards or loans.
Check for red flags: Fraudsters often use pressure tactics, fake endorsements, or complicated explanations. Slow down and consult trusted sources if unsure.
Use only trusted platforms: Stick to well-known, regulated cryptocurrency exchanges or services and do not withdraw funds from them to wallet addresses controlled by someone else than you.
If you have been contacted regarding a suspicious offer, please contact us via support@safello.com.