3 Common Scams and How to Avoid Them

You check your email and find this:

Heart racing, you call back and give customer support your secret recovery phrase.

Luckily, you caught the problem early! Your account is safe.

After a few minutes, you hang up and sign back in.

Your jaw drops.

Zero balances across the board.

Suddenly you realize: the worst has happened.

You got scammed.

3 Common Scams

Scams like the one above cost users of crypto products billions of dollars each year, and new scams pop up every day. Keeping your funds out of the hands of cyber criminals can feel like a full-time job considering new scams pop up every day.

Here is a list of the three most common scams you should watch out for:

Impersonation

• Someone claiming to be a Blockchain.com employee may contact you via email, phone, or social media and ask for your recovery phrase, private key, or login information
• Blockchain.com (and most crypto companies) will not call you.
• Unsure whether a request is legitimate? Open a Support Center Ticket.

Phishing Emails or Websites

• An email asks you to go to a website and reset your password or provide your private key. These sites often look identical to the sites they impersonate and can have a similar URL like b1ockchain.com, bl0ckchain.com or blockchain.io.
• These scams often result in a malicious third party recording your login details and stealing your funds.
• Always double-check the URL of websites you visit.

Fake Investment Proposals

• This type of scam may ask you to “pay a fee” or “pay a tax” in order to release a bigger amount of funds to you.
• Scammers usually impersonate official authorities such as the SEC or other financial institutions.
• Fraudsters can go as far as to forge official-looking documents or fake ID cards.

And remember: never perform money transfers on behalf of another individual, either for them or by giving them your login details.

For our full Support Article on scams, click here.