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'Double Your Bitcoins' Scam

Posted: September 15, 2020

Cryptocurrency users often are targeted by fraudsters who are exploring different tactics to gain access to their victims' funds. Usually, they do not try to hijack the user's wallet and, instead, they try to use misleading promises and messages to convince the victim to send them money willingly. This is the case with the tactic we will discuss today – the 'Double Your Bitcoins' scam. This tactic appears to be promoted via fake websites that bear names similar to popular companies – for example, one of the con artists' domains is Apple-event.org. Needless to say, this page has nothing to do with Apple and, instead, it is owned by fraudsters who use it to run their fraudulent schemes.

The 'Double Your Bitcoins' scam promises users that they can double between 0.1 to 10 Bitcoin if they send it to an address shown on the page. To make the scheme appear at least somewhat believable, the fraudsters have left a disclaimer saying that this is a one-time opportunity – this also might be used to trick victims into sending more than just the minimal amount. Needless to say, users who opt to try the scheme will end up transferring their Bitcoins to the con artists, and will not hear from them again.

Free Bitcoin does not exist, and Web pages that promise you great cryptocurrency rewards are usually fraudulent if they want you to send them money first, especially.

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