A rule of thumb is: if something online sounds too good to be true - it usually is fake.
There are two main tactics scammers use:
- lure you in to send them Bitcoin by promising something in return,
- steal your account details to access your Bitcoin wallet and transfer everything out themselves.
Ponzi schemes and trading scams
Just like in the real world, criminals online are very creative when it comes to luring people's money out. It is relatively easy to disguise a scam online as a legit business. Ultimately, most of them follow a very similar pattern: they offer you to invest/trade with your cryptocurrency and promise crazy returns you've never seen before. Always ask yourself if you would trust a stranger in the street asking you to invest in their business on the spot?
Phishing and social engineering
Fraudsters use various methods to steal sensitive information and use it to access your account. Here are a few tips that will help to identify and protect against phishing:
You can find more information about phishing and online scammers here: https://www.phishing.org/what-is-phishing