Review Crypto Sign is Another Scam Doubler!

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Most Common Cryptocurrency Scams & How to Avoid Them

The growth of the blockchain and cryptocurrency space has been undeniably exciting. Tech innovation and the fast paced new trading paradigm continues to attract big crowds, but this also includes a number of bad actors.

Based on Cryptonerds’ ( beautiful infographic, we want to outline some information to help the community identify and avoid scams. People are generally more aware now than in the past, but new scams are still perpetrated daily.

Types of scams

In a recent study 80% of the ICOs conducted in 2020 were identified as scams. One of the most popular was Confido. In November 2020, the team raised $375,000 and disappeared shortly after. As soon as the news spread, the token price plummeted from $0.60 to $0.10 in less than 2 hours and then to fractions of a cent a few hours later.

An even larger ICO scam was Centra, which raised $32M and was supported by celebrities Floyd Mayweather and DJ Khaled. In April 2020 the two founders were arrested, and in a similar manner to Confido the coin lost almost all its value following the news.

Another typical ICO scam is simply listing fake team or advisor profiles, be they imaginary with stock images or often blatantly stolen from well known advisors. Images of team members can easily be reverse image searched on Google. If you find a match under a different name, it is likely that the ICO is a scam, especially if the picture happens to be of Ryan Gosling — as per an ICO named Miroskii earlier this year.

2. Social media giveaway scams

Be aware of social media groups and users (on Facebook, Telegram and Twitter), sometimes impersonating notable figures in the crypto space such as Vitalik Buterin or Andreas Antonopoulos, that offer giveaways. Whenever you read “send 1 ETH to this address and receive X amount back”, that ia a sure scam. Crypto is money and nobody is giving away money for free.

3. Cloned websites

Exact clones of legitimate projects, generally exchanges or ICO websites, are used to steal funds and personal information. Always double check the URL and bookmark the websites that you visit often. Cloned websites will use similar letters in the URL to make it look like the real one at a quick glance, for example using “m” instead of “n”, “0” instead of “o” and so on.

Be aware of ads leading to phishing sites. Recent examples include Google Ads to cloned exchanges and Reddit ads to Trezor hardware wallet sale offers. Always bookmark the legitimate URL and don’t visit other URLs even if they look similar. Chrome extensions like Metamask help to avoid phishing sites.

Both Etherdelta, a now almost defunct decentralized exchange, and MyEtherWallet were victims of DNS hacks (, A DNS hack occurs when traffic is redirected from the legitimate website to the scam site by modifying DNS records of the legitimate site. This means that a user visits the correct URL, but is unknowingly redirected to a scam site. These are particularly tricky because even if you visit the site from a bookmark, you may still be deceived. One great way to avoid DNS hacks is to verify the SSL certificate of the website you’re visiting. Major targets for DNS hacks such as MyEtherWallet or MyCrypto both have specific SSL certificate names. If the SSL certificates don’t match or you receive an error exit the website immediately. Another way to prevent DNS hacks for MyEtherWallet and MyCrypto is to run them offline locally on your computer.

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Also known as phishing, fake emails can redirect the users to fake websites where they attempt to steal funds and personal information. These often arise during ICO crowdsales. Databases of emails and other personal information have been obtained by scammers from past ICOs in an effort to fleece future investors of their funds.

7. Fake support teams

Another type of phishing campaign, these groups pretend to be the support team of a project and ask for personal information, deposits, or private keys.

8. Fake exchanges and apps

When it comes to exchanges, stick to the well known ones such as Binance, Kraken, Bitfinex, Kucoin, Huobi, Bibox, Coinbase and Gemini. At the moment of writing, CoinMarketCap lists 204 exchanges and there’s a good chance that among them there is another BitKRX, a fake exchange that was discovered and seized in 2020: (

Also, watch out for the legitimacy of apps you download to your phone or browser.

9. Cloud Mining scams

The increasing popularity of cloud mining, due to higher costs of mining equipment and electricity for individuals, has given bad actors another easy way to perform fraudulent activities. A well known case is MiningMax, a cloud based mining service that was asking people to invest $3,200 for daily ROIs over two years, and a $200 referral commission for every personally recruited investor, making it a clear ponzi scheme. The website scammed investors out of as much as $250 million.

10. Ponzi, pyramid and multi-level

A Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors. The most notorious Ponzi scheme in crypto was Bitconnect. It surprisingly managed to stay active for a year, until they executed the largest exit scam to date ( At the moment of the collapse, the market cap of Bitconnect was around $2 billion and the price of the single coin was around $320. In less than 24 hours it plummeted to $6 and the market cap was reduced to $40 million. Bitconnect had a huge following and the marketing was very well orchestrated as it often happens in successful pyramid schemes. Bottom line, always think with your head and if something sounds too good to be true it probably is.

Some redditors compiled a list of Ponzi schemes in the cryptosphere a while ago, doesn’t hurt to check once in a while:

11. Malware and Crypto Mining

Malware in crypto comes in two forms; the most common comes when malicious software is installed, generally with naive consent of the user, on a computer or mobile device, with the intent of stealing private keys or funds.

Crypto mining malware is the second form. In this case the malware secretly uses the infected computer’s resources to mine cryptocurrency, effectively creating a decentralized mining network (

One telltale sign of crypto mining is increased CPU or GPU usage. This can result in your device becoming more noisy as the fan speed increases to keep the device cool.

Be extremely cautious when installing software on the computer that you use for trading or dealing with crypto. If you’re using Google Chrome, pay attention to the extensions that you are installing and in general always double check the authenticity of the app and its source.

12. Fake Pools and OTC scams

Fake pools are generally organized through Telegram or Discord group chats. These groups offer allocations for upcoming ICOs and ask you to send funds, generally Ethereum, to contribute to the pool in order to receive the ICO tokens later on. While some of these groups are legitimate although generally very hard to get into — they might require a steep monthly fee, KYC and a specific skill set — most of them are just scams. Moreover, due to the anonymous nature of crypto, once you send the funds to a fake pool there is no way to get a “refund”.

Fake OTC (over the counter) scams operate the same way. They offer to sell or buy assets directly from you, ask you to send the funds first and then never send you anything back. OTC deals are extremely risky so proceed with caution and use a trusted third party as an escrow. Be careful since the intermediary could be an accomplice of the person that is offering the OTC deal.

13. Pump and dumps

Pump and dump groups manipulate the price and the volume of a coin — generally lesser known, lower cap coins. They initially pump the price in a short amount of time by coordinating the purchase of large amounts and subsequently they sell it dumping the price. The caveat is that these groups have different levels and the higher levels communicate which coin is getting pumped to the lower levels only when they already bought it. The lower levels are the ones that are getting dumped on. These are in fact pyramid schemes.

Recently several prominent crypto influencers reported their assets stolen by the attacker taking over control of their phone number. How this works is shockingly simple. The attacker impersonates the owner of a phone number when calling the mobile phone provider and asks for the number to be transferred to a new SIM. Consequently the attacker has access to your email, 2FA and all relevant tools to steal your assets.

This video and article from Motherboard sums up how to protect yourself from phone hacking:

How to Protect Your SIM Card and Phone Number

Your phone number is quickly becoming the key to your digital identity, so it’s important to know how to protect it…

Typical Red Flags

  1. Promise astronomical gains

Always keep in mind that if it sounds too good to be true then it probably isn’t true. Simply put, always suspect of any project that offers high returns on your investment.

2. You have to invite more users

Doubt and suspect: when you are asked to invite other users it is a clear sign that it is a Ponzi scheme. Although keep in mind that affiliate programs are a different thing and always voluntary.

3. They ask for your private keys

Never share your passwords, private keys or security phrases. Any individual, project or ICO that asks for your passwords, private keys or security phrases are scams.

4. Previous scam

A scam will always be a scam. If a project or a startup or an individual has been accused of being a scam in the past, be careful as it might be that they might be a scam again.

Do not trust articles or a website of a project. It is of utmost importance to verify that the team has LinkedIn profiles and possibly go beyond that and do a full background check with Google and Twitter/Facebook. If the team information isn’t public there’s a good chance that it could be a scam.

How to evaluate the legitimacy of ICOs

  1. Reputation

– Are there full names and faces associated to the project?

– Do they have active LinkedIn or other social media profiles?
– Is the whitepaper original or is it a copy of another whitepaper?

– Are there confirmed partnerships with other companies?

– Does the project have a roadmap, a working product or it’s just an idea?

– Are they a registered and incorporated company?

If the project has been abandoned, then it isn’t worth your time and money.

– What do people say on the different social media channels about this project?
– Is the team interacting with the community and what is their attitude?

Not everything needs the blockchain.

– Does the project need the blockchain or can the problem be solved with a classic database?

– Is the technology behind this project actually solving a problem?

– Is there any other project that is trying to solve the very same problem?

– Does the project have a clear objective?
– Did the team meet the deadlines in the past and reached the goals stated in the roadmap?

– Did the team run into any problem during the development and how did they handle it?

– Has the coin been through a pump and dump before?
– Was there any recent change on the team structure?


At the end of the day, while there are numerous scams, schemes, and perpetrators of various fraudulent activities throughout crypto, the best approach is to proceed with a reasonable degree of skepticism and care. Despite the number of fraudulent projects, there are countless reputable, and well run projects and groups that make investing in cryptocurrency worth while.

As with many things in life, exercising reasonable caution when dealing with finances is the best approach, so whenever you are visiting a new website, see something that feels too good to be true, or are storing or accessing information using your private keys, take care, and ask yourself if you could be exposing yourself to any undue risk. Review: CryptoSun is Another Scam Doubler. Don’t Invest!

Crypto Sun Review: Scam or legit? claims it could double your money 100% returns daily. How true is this? You may have come across many systems on the internet promising you quick fortunes, the truth is that majority of them turn out to be scams. In this review , we provide you information based on our investigations and user experiences to help guide you make the proper decision.

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WHAT IS CRYPTOSUN is a platform that claims it is into Crypto-currency mining. According to the information on their platform, Their company offers trust assets management of the highest quality on the basis of foreign exchange and profitable trade through Bitcoin exchanges. There is no other worldwide financial market that can guarantee a daily ability to generate constant profit with the large price swings of Bitcoin. But the question you should ask is this Is legit? Can cryptosun really double your money ?


Though this platform might appear legit to a newbie, the truth is that it is just a wishy washy site built with the intention of scamming eager investors. This can be seen from the unrealistic returns. This is a type of method of scamming unsuspecting investors. Most of this quick-profit investment schemes are HYIPs.


Everyday we get complaints of people been scammed. Most people fall for these schemes because of the sweet promises of making huge profits within a short time. On a serious note, legit systems exists but scams are very very numerous. So you need a guide to help you make a good decision. We have made it our duty, by exposing scams..

Our Recommendation

They are lots of online investment opportunities which could fetch you money and give you a good Return On Investment. We constantly search them out to guide our readers so they don’t fall for scams. Always feel free to interact with us in the comment section.

Crypto Contracts Review, Is Crypto Contracts Scam? Yes (Confirmed)

Welcome to our Crypto Contracts review and SCAM investigation. Crypto Is Making People Rich, And You Can Become The Next Millionaire! Or maybe not? Well, the crooks promoting the Crypto Contracts scam would have you believe that you are signing up for a legitimate cryptocurrency trading software. However, as our impartial Crypto Contracts review will prove, you stumbled into another get-rich-quick scheme which has been excessively recycled and cloned by various affiliate networks and media agencies. Don’t believe us? Wanna know how the Crypto Contracts SCAM works and why we blacklisted this fake crypto app and automated trading software? Keep reading our detailed Crypto Contracts review and make sure to hold on to your wallet because these liars are exceptionally gifted con artists. Oh, and let’s not forget the crooked brokers operating behind the scenes. When we signed up our broker was Safe Markets, and a closer look revealed we are dealing with a company which has a registered business address in Tallinn Estonia as well as an office in the United Kingdom. That’s right, there is nothing legit or genuine about Crypto Contracts, and as you shall see this fake investment platform is just one small piece of a much larger fraud network.

Official Website, Login Page, and Members Area:

Proof of SCAM
Alright, so here is the main registration page and membership area for the Crypto Contracts SCAM software. You can clearly see that these cheaters are promising you can become a millionaire overnight.

Crypto Contracts Registration Area

Below you will see a partial list of copied scams we managed to identify. If you click to enlarge the image you will see that they are all the same. The first scam was Bitcoin Trader, and then cam Bitcoin Revolution and Crypto Revolt.

Crypto Contracts Cloned SCAM

If you need additional proof, here you will see the Crypto Contracts post signup page. Needless to say we got the same setup as we did with Bitcoin Trader and Bitcoin Revolution, only with those scams the brokers we got were Hybrid Reserve and Cryptonix Team.

Crypto Contracts Fake Brokers

Crypto Contracts Dragon’s Den and Fake News
True to their traditions, the greedy fraudsters behind the Crypto Contracts scam are resorting to the illegal practice of false advertising. Get ready for mirror pages, fake profiles on Facebook and LinkedIn, misleading advertorials, and bogus news websites made to look like legitimate media outlets. Most used wealth Gurus are Elon Musk, Richard Branson, the cast of the Dragons’ Den, and members of the Shark Tank.

Crypto Contracts Fake News

What Is Crypto Contracts and How Does it Work?
Crypto Contracts is advertised as “a group reserved exclusively to people who jumped on the insane returns that Bitcoin offers and have quietly amassed a fortune in doing so.” They say that members of this group live the “laptop lifestyle” and travel the world while the system generates passive profits for them while they live their lives and do the things they love to do. But that is not the truth is it? Check out our review.

Crypto Contracts Review, Becoming a Millionaire Is Not An Option (Losing App)!
In the Crypto Contracts sales page they claim that they have access to a trading app which performs at a 99.4% level of accuracy (impossible), and that’s why their members double, triple, and quadruple their investments. There is also talk about a “superior technology” which is “ahead of the markets by 0.01 seconds”, and that is why it is able to beat the competition. They also say that their software won awards, but there is nothing to validate this statement. And on top of everything they are using fake testimonials and inflated bank account statements to manipulate you and get you to believe their dirty lies. In the FAQ section they say that you typically make $ 1,300 daily, but there is no explanation as to how that works. Furthermore, there is no explanation as to how the algorithm works and there is no back-testing. In other words, it’s a scam so stay away.

No one said it’s free. These thieves will charge you at least $/£/€250 to activate the software, and in some case even more. That money will be deducted from your credit card by the brokers which will be assigned to your account and they are shameless as well as persistent (not to mention rude).

Fake Crypto Contracts Reviews
We have seen a couple of fake Crypto Contracts reviews , and this trend is only growing so if you find things to be too good to be true they usually are and the person endorsing the software is most likely getting paid on the back end.

Still Trust Crypto Contracts?
We are not judgmental and understand that even the smartest or most educated people get duped and may end up getting scammed. However, if you consider yourself to be an intelligent person and after reading our Crypto Contracts review still want to risk your money and invest using this program then you should probably avoid online trading altogether as it is most likely not for you.

Tested Alternatives
So at this point you are probably asking yourself what DOES work? Well, that’s what most people ask themselves and fortunately our staff was able to identify a few reputable systems which produce results consistently. We know, because we risked our own money and tested the software before recommending it. So if you are in the market for a tested trading app, we invite you to check out our recommended systems section.

Crypto Contracts Review Summary, Conclusions, and Helpful Tips That Work
The Crypto Contracts scam software, app, and fake automated cryptocurrency trading system is a blacklisted investment platform. We took the risk and invested some money using this system. Regretfully, not only did we lose our initial investment we also got a call from our bank asking about unauthorized payments being made using our credit card. We have seen this before, but its always shocking to know that your card is being circulated and used to purchase various things online. Obviously we got reimbursed by Visa, but we did have our credit card blocked and had to go through the hassle of being issued an alternative card. So, in light of everything that happened to us, we recommend you avoid the Crypto Contracts scam and seek alternative investment options. Don’t forget to check out our YouTube Channel and Facebook Group.

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