Cyber dost has given tips to help investors protect themselves from such crypto scams and prevent them from falling for these scams. For those who didn’t know, Cyber Dost is the security and cybersecurity consciousness of the Home Office, Indian government, on twitter. Cyber Dost listed four precautionary measures in a tweet.
- Scammers can lure investors through websites and other social media platforms
- Do not fall for attractive offers and fake endorsements
Scammersmay try to convince investors to make payments via online wire transfer or gift card for investment
- Be vigilant and do detailed research and read online crypto reviews before making any investment
Beware of #crypto fraud https://t.co/JDnu84W4B7
– Cyber Dost (@Cyberdost) 1622809619000
As the post describes, one needs to do in-depth research on the digital currency they want to invest in. Keeping track of past performance and reading reviews online can be a good move. On social media platforms like WhatsApp and Facebook, you shouldn’t believe any offer that advocates a particular investment. Always invest through a legitimate platform / app. In addition, one is not allowed to make online payments instead of receiving a gift certificate for investments.
Earlier this week, the country’s central bank, the Reserve Bank of India, urged banks to withdraw their cryptocurrency warning notice. The notice reportedly cites a 2018 Reserve Bank of India (RBI) circular that was rejected by the Supreme Court in 2020.