Scam Crypto Companies are an increasing concern for cryptocurrency investors. Scammers promise high returns and enticing investment opportunities, but many people are not aware that they can get scammed. In 2018, FSMA received 334 reports of fraudulent firms and reported damages of 4.5 million euros. Although this number may be low, many people do not report such scams, so the real number is probably higher. It is a good idea to do some research before investing your cryptocurrency and make sure you invest with a reputable company.
While many crypto investment scams are based on the internet, some scammers use social media to make their money. For example, some people join a cryptocurrency company and find out that they’ve made millions of dollars from a single investment. Unfortunately, the scammers do not disclose their owners. The company may be a fake, but it’s not impossible. The main problem is that the company’s owner may be involved in other crypto frauds, so be sure to look for the company’s website.
Scam crypto companies may sound like the next best thing, but if you’re not familiar with the industry, this article may be of interest. The list contains some of the most notorious scams. Fortunately, there are also some legitimate companies that will accept investments as small as ten dollars. A good sign of a reputable firm is a transparent and comprehensive website. If you’re unsure of the company’s background, check the website and the FSMA’s official status before signing up with them.