Hand on heart: do you understand how cryptocurrency works?

Many will answer this question with a resounding no. Nevertheless, every day interested parties follow the colorful promises of quick money by investing in cryptocurrencies. Social networks are full of advertisements for investments, especially in Bitcoins, but also other cryptocurrencies. You may have recently received such an advertisement with the headline “Lion’s Den” or discovered it while surfing the Internet.

The positive image of the Vox show and its jurors is intended to create the impression of a serious investment in Bitcoin and other cryptocurrencies. Big profits are promised in a very short time... and all without any prior knowledge.

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Happiness is just a click away on the link provided. Redirected to the online platform of the supposed provider, the world opens up to a success story that only has the aim of getting you to register. This is how your data is accessed, and from this point on you will constantly be called by numbers from many parts of the world and flooded with emails.

The goal is to get you to invest in Bitcoin. Fast payment methods are also displayed. When looking at the payment methods offered, it is noticeable that they regularly exclude providers from whom it is possible to get the money back at short notice. Once you have paid into the system, you are probably a victim of a scam.

Have you deposited your money into a foreign account?
Then your money will probably be irretrievably lost to you. After registering on the online platform, you will get an insight into your trading account, which shows the success of your investment in corresponding charts. In fact, it's just a programmed routine that is designed to entice you to make further deposits. At this point, your money has already been redistributed to other accounts.

But who is the operator of this online platform? The imprint only states a mailbox address. The actual people behind it are difficult to identify.

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Don't fall victim to these scams.

  • Read the offers carefully and make sure you actually understand the investment.
  • Consider whether the promised returns are realistic.
  • Take a close look at the provider's website. More than just a foreign address should be visible in the legal notice (e.g. contact numbers, contact person if necessary in Germany, etc.)
  • Be suspicious if you only receive further information after registering.
  • Find out about the system and the providers in advance. Essential information can often be found on the Internet, from consumer protection organizations or from the Federal Financial Supervisory Authority (BaFin).
  • For example, talk to your bank about the investment.
  • Don't make decisions under pressure. If you make a serious offer, you will be given a period of time to think about it.
  • Be careful when making payments abroad. Pay particular attention to differences between the alleged location of the provider and the account details (account-holding bank).

If you have already fallen victim to this scam, be sure to report it to your nearest police station or to our internet guard ( https://www.internetwache-polizei-berlin.de/ )!

Source: Berlin Police on Facebook
Article image: Wit Olszewski / Shutterstock

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Notes:
1) This content reflects the current state of affairs at the time of publication. The reproduction of individual images, screenshots, embeds or video sequences serves to discuss the topic. 2) Individual contributions were created through the use of machine assistance and were carefully checked by the Mimikama editorial team before publication. ( Reason )