SCAM is one of the biggest fears of any crypto investor.

The Halloween promotion on the crypto exchange Whitebit reminded me of a painful SCAM experience,most likely this post will be useful for beginner crypto investors.
SCAM usually happens through fictitious stories or fictitious persons.
According to Chainalysis:

The number of transactions related to illegal activity is between 0.3% and 0.5% of the total.The number of scams has been growing since 2018.The amount of cryptocurrency that scammers received in their wallets was almost $40 billion.
Types of SKAMs:
1.Investment scams.Scammers promise you mountains of gold from crypto investments. Remember: if it sounds too good to be true, it's probably a scam!

2.Phishing.If fraudsters pretend to be well-known companies and ask you to enter your data on fake sites, this is an example of phishing. Do not click on suspicious links! An example of such a letter.

3.Pump and dump. You are offered to buy an unknown coin for pennies, promising that it is "about to fly." Spoiler: only your money will fly away, because this is one of the types of cryptocurrency scam.Example. Pumpers coordinate the purchase of the IZI token, as a result of which its price soars.

Theoretically, you can make money on pumps and dumps (although this does not look like work, but rather like gambling).

4.Giveaways.Scammers organize so-called giveaways promising to double your investment, often posing as celebrities in the industry to attract the attention of potential victims. Example: Engadget took a screenshot of a broadcast where an AI-generated Elon Musk during a Youtube broadcast encouraged people to invest in cryptocurrency through a scam project.

5.Rug Pulls. In simple terms, it’s a sale of unknown tokens.Example: the scam with the Squid coin, named after the popular Netflix series “The Squid Game”. Investors bought tokens for online games with the opportunity to earn more later and exchange them for other cryptocurrencies. The price of a Squid token has risen from 1 cent to around $90 per token.

6.Cloud Mining. Such scams usually offer to make an advance payment to get mining power and subsequent reward from the mined coins. But in fact, fake projects do not have the declared hashing power and do not fulfill the promises of payments after receiving the initial contribution. Make sure that the pool you want to join has a good reputation, for example, in 2024, WhiteBit Mining pool appeared on the market, which is part of the ecosystem of the largest exchange in Europe.
Cryptocurrency Security Tips:

• Two-factor authentication (2FA)
• Avoid public Wi-Fi networks
• Use a strong password, store it in a password manager such as 1Password or Bitwarden
• Use cold wallets
• Choose a reliable crypto exchange, WellCrypto rating says the safest are Bybit, WhiteBIT and Bitfinex, they use 2FA/WAF to protect your funds and block hacker attacks, and also use KYC and AML verification. Remember, protecting your capital is your responsibility.