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ICO scam

Posted on May 8, 2024 - 10:22 am by

ICO Scams

ICOs are a way to invest in the world of cryptocurrencies, but they also come with the risk of being scams. Before you invest in an ICO, you should do a lot of research on the people and companies behind it. Use ICO sites you can trust, and learn how to spot scams and what to do if you fall for one.

What are ICO scams?

An ICO scam is dishonest behaviour done with bad intentions. If the police find it, they will take legal action against companies that support these acts. Initial coin offers are what an ICO stands for. Initial coin offerings (ICOs) are a way for most businesses and new groups to raise money. Corporations that need more money to make a new app or coin use an ICO as a way to get more money.

ICOs are like initial public offerings (IPOs) in the crypto world. The only difference is that firms pay for IPOs. On the other hand, risky new businesses usually use ICOs. Different ICOs have given investors different amounts of money back, with some ICOs being real and others being scams. We could say that ICO scams are the worst thing about the bitcoin asset business.

Ten Biggest ICO Scams

An ICO scam is dishonest behaviour done with bad intentions. If the police find it, they will take legal action against companies that support these acts. Initial coin offers are what an ICO stands for. Initial coin offerings (ICOs) are a way for most businesses and new groups to raise money. Corporations that need more money to make a new app or coin use an ICO as a way to get more money.

ICOs are like initial public offerings (IPOs) in the crypto world. The only difference is that firms pay for IPOs. On the other hand, risky new businesses usually use ICOs. Different ICOs have given investors different amounts of money back, with some ICOs being real and others being scams. We could say that ICO scams are the worst thing about the bitcoin asset business.

1. Classic Exit Scam

  • ICO promoters vanish, leaving investors in the dark.
  • Promised rewards for promotional tasks were not paid out.

2. Airdrops and Sophisticated Frauds

  • Allegations of ICO scams involving same developers.
  • Airdrop scams involve stealing private keys.
  • Users lose currency after falling for free token scams.

3. Exchange Fraud

  • ICOs are launched on shady exchanges to deceive investors.

4. Copy-Paste Scams

  • Scammers copy white papers of promising ICOs.
  • Launch similar ICOs under different names.

5. Pumps and Dumps

  • Investors rush to buy low-priced tokens, but prices drop sharply later.

6. Blockchain Ponzi Schemes

  • Promise future returns for ICO investments.

7. URL Scam and Phishing Attacks

  • Fraudulent websites, similar to legitimate ones, deceive investors.

8. Porn Scam

  • ICOs pretend to offer premium access to porn sites/products.

9. False, Dead, or Both ICOs

  • Scammers deceive investors with fake teams, projects, wallets, and social media.

10. Market Manipulation and Pre-Mines

  • Pre-mined tokens are shared among developers, influencing token prices and market.

Red Flags of ICO Scams

When looking into an ICO, there may be a few red flags that show the investment is not priced enough. If you’re thinking about investing in an ICO, here are some red flags you should look out for.

Absence of openness

  • Verifying the project team, terms, track record, and experience are essential.
  • Red flags are raised when these details are missing or hard to find.

Impractical Promises

  • Projects that make exaggerated claims regarding future funding should be avoided.
  • shows a lack of a white paper for using the funds.

Absent or incomplete white paper

  • The plan and reasons to trust it should be explained in detail in the whitepaper.
  • Any ambiguity or incompleteness points to a possible hoax.

Conduct Research

  • Legitimate initial coin offerings put time and energy into project and team marketing.
  • If there are no online press releases, publications, or project details, it’s probably a scam.

Minimal or Nonexistent Team Data

  • A capable team is essential to a project’s success.
  • If team members are not mentioned on the website, there may be a scam risk.

Frequently Asked Questions

You need to know how to spot these scams at the proper moment if you want to protect yourself from the monetary losses and associated mental anguish. These are some methods for identifying ICO frauds.

Go through the whitepaper

  • The project context, goals, plan, and financial models are described in the whitepaper.
  • Steer clear of companies without whitepapers.

Recognize the group

  • Make sure the project team has a complete background check.
  • Check credentials on websites such as LinkedIn.
  • Evaluate the team’s track record and see if the promises are reasonable.

Assess Assured Parties

  • Evaluate the promises the ICO company made.
  • If it appears to be in order, go ahead and invest
  • Prior to investing, follow your gut and think twice if you have any reservations.
  • Use an investing platform such as an ICO.
  • Analyse the ICO team and companies in detail.
  • Don’t send money to personal accounts.
  • Check the various methods of payment.
  • Steer clear of rash decisions.
  • Never click on links you did not request.
  • If you see an ICO on social media, ignore it.
  • For added security, use initial coin offerings (ICOs) that accept several payment options.

Contact Morgan Financial Recovery if you believe you fall into ICO fraud, and their knowledgeable staff will assist you in getting your money back from the con artists. You must follow certain rules in order to do that.

Assemble all the evidence

Make sure you have all the facts before making any big judgments or statements. All the information regarding the con artist who reached out to you, any advertisement that caught your attention, the acknowledgement of your investment, and the screenshot proving you completed the payment.

Make a Morgan Financial Recovery case

Give all of the paperwork to our knowledgeable staff when you visit the recovery company. When our professionals take that weight off of you and fight in place of you, you can relax. Give us your address and phone number as well so that we may contact you until you get all of the money that was stolen from you.

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eBay scams

Posted on May 8, 2024 - 9:41 am by

eBay scams

What are eBay scams?

eBay scams are seller fraud, whereby sellers intentionally mislead buyers about their identity or products in order to profit from their purchases, all without ever delivering the goods.

The majority of customers had favourable experiences with eBay, a trustworthy online retailer. However, in order to safeguard yourself, you need to be aware of the many eBay scammers.

Regardless of whether you sell or purchase on eBay, you should be aware of frequent scams in order to avoid falling for one. The following is a list of the most common eBay frauds to be aware of, one of which is relevant to all eBay users, buyers, and sellers.

What are the most common eBay scams?

Cheating is almost always prevalent in money transactions. Same on eBay. Both consumers and sellers might fall victim to eBay scams.

The following eBay buyer scams are common:

A delivery fraud

The eBay money-back guarantee protects customers from dishonest sellers, with restrictions. The items below are not protected, meaning the seller may accept payment and not send the item, leaving you without recourse through eBay. Be careful when buying from this list:

  • Businesses for sale,
  • a selection of business equipment categories,
  • online auctions,
  • cars services,
  • real estate, and
  • goods sold through Sotheby’s classified ads

Wrong Name Shipping Label, Fraud

  • The seller purposely uses the wrong name on the shipping label.
  • After an eBay transaction, the seller sends a parcel with the correct address but an incorrect name.
  • buyer may assume they received wrong package, return it, and have the transaction marked as rejected.
  • seller keeps product and money; there is no way to contest transaction.

Empty Box Fraud:

  • Highly sought-after product advertised, sometimes for inflated price.
  • the listing mentions only the box, not the actual item.
  • buyer receives expensive packaging without desired commodity.

Fake Products:

  • Online shopping lacks ability to verify product quality.
  • Scammers offer high-end, name-brand products at attractive prices.
  • Products turn out to be knockoffs or counterfeits.

 

There are some common eBay seller frauds.

Non-Ebay Private Transaction

  • Buyer offers private payment to avoid eBay fees.
  • buyer disputes transaction or refuses payment, claiming damage or hoax ad.

Overpayment Offer

  • potential buyer offers more than asking price.
  • buyer pays with fake check; seller loses money when check bounces after shipping goods.

Address Change Scam

  • buyer offers overpayment, claiming additional shipping expenses to a foreign country.
  • scammer poses as PayPal representative, requests postal tracking numbers.
  • The seller loses money and goods in the scam.

Empty Box Claim

  • buyer accuses seller of delivering empty box.
  • Buyer returns opened package without item; seller loses money.

Fake Broken Imitation

  • buyer claims item is broken, provides images.
  • seller loses both goods and money if buyer reports items damaged to eBay and receives a refund.

 

How can I spot scams on eBay?

Short-term deals

  • Sellers are rushing to close deals quickly.
  • Be cautious of one-day offers, except for event tickets.

Reduced or out-of-stock items

  • Avoid sellers offering rare or high-quality items at unusually low prices.
  • Deals that seem too good to be true are often scams.

Contacting or paying off-eBay

  • Use eBay messages for safe communication and payment.
  • Beware of sellers asking for personal contact details or off-site payments.
  • This could lead to scams not covered by eBay Buyer Protection.

Unsecure Payment Techniques

  • Some payment methods aren’t accepted on eBay due to security risks.
  • Don’t proceed with a purchase if a seller insists on using an unaccepted payment method.

How Can eBay Scams Be Avoided?

Apply common sense and critical thinking to steer clear of eBay frauds. Severe discounts, unfavourable reviews, or demands for covert transactions should be avoided. Examine products and vendors to identify phoney goods or anomalies. Steer clear of wire transfers, gift cards, and payments made outside of eBay. After a deal is done, decline further payments and never take more than what is agreed upon. Finally, avoid disclosing financial or personal information to other users.

What should you do if an eBay scammer has deceived you?

eBay scams are a well-known occurrence. Users who believe they have been scammed are urged to get in touch with Morgan Financial Recovery and work with police enforcement right away. To find out more about how to report a fraud to us and how eBay is involved, visit the eBay Form of Threats.

If you have an issue with a seller, you can get in touch with eBay directly.
If you find something on eBay that you think is fake, report the listing right away.

Frequently Asked Questions

On eBay, theft is almost never done by sellers but rather by buyers. Even though eBay makes money from sellers, it is easy for buyers to scam sellers because buyers are protected while sellers are not.

The buyer makes a counteroffer to the price that was listed for the item.

  • The buyer offers more than the asking price to cover “agent fees” or other extra shipping costs, which are usually from outside the country.
  • The buyer accidentally paid too much.
  • People who buy things are ready to pay and really want the items.

If you have a problem with a seller, you can tell Crypto Options Recovery right away. For instance, let’s say you find something on eBay that you think is fake. Also, if you think a buyer has done something dishonest or illegal here, you should report them.

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Medicare scams

Posted on May 8, 2024 - 8:47 am by

Medicare scams

What are Medicare scams?

These scams are specifically targeted at the nation’s elderly population. They are singled out, and their personal information is obtained on pretences of financial rewards and services that are either fictitious or nonexistent. These frauds are widespread and constantly change to reflect new developments in technology, the news, and other factors.

What are the most common Medicare scams?

Medicare fraud is more common among the elderly because of memory problems like Alzheimer’s or solitude. Some common scams are:

Open Admission

Scammers impersonate Medicare representatives and make cold calls or house calls while offering substantial healthcare savings. Be careful—offers are typically only valid during the open enrollment period.

Medicare Scam Calls

Scammers impersonate healthcare representatives, offering free services or gifts in exchange for personal information over the phone. Beware and avoid such calls.

Outdated Medicare site

Scammers frequently use Medicareplan.com, an antiquated website with weak security, to target the elderly. To be safe, make sure the URL starts with "https."

Medicare Refunds

Medicare fraudsters deceive the elderly into providing sensitive information in order to receive the rebates they offer.

Bogus Medicare Bills

Fraudsters act as Medicare providers to get money sent to their bank accounts. Before realising it's fake, victims could pay without questioning.

Medicare Scam Back Brace

Through direct approaches or commercials, scam artists promise free orthotic braces. They then charge Medicare for superfluous braces, jeopardising future coverage.

How do I avoid Medicare scams?

You must recognise some warning indicators in order to prevent being a victim of a possible Medicare scam. For instance, you might get a call, and the caller will request your Medicare ID number in order to confirm your identification. Consequently, a Medicare agent will refrain from verifying your private information. You thus incur the danger of disclosing private information, which will only encourage identity theft.

What are the tips to protect yourself from Medicare fraud?

  • Notify local authorities of Medicare fraud in order to put scammers on a blacklist and increase awareness.
  • Like Powerball and state lotteries, lotteries must be authorised by the federal government or state.
  • Corporate sweepstakes don’t always help the state.
  • Inform banks or recovery companies if you’ve been conned.
  • Watch out for “free healthcare services” that demand payment in advance.
  • Use strong passwords and two-factor authentication to protect your online information.
  • Keep an eye on account transactions to spot any odd behaviour.
  • Don’t give out personal information to strangers on the phone.
  • Update your health or insurance plans only from reputable sources.
  • Examine medical records prior to making decisions.
  • Avoid enrolling in needless services or treatments.
  • Share any private documents that include financial or health-related information.
  • Preserve your Medicare number because if it’s compromised, identity fraud could use it.

How do you get your money back from Medicare scams?

Individuals may find it extremely difficult to recover lost assets from Medicare scams since there are insufficient resources, such as technology, legal assistance, and people. Specialised fund recovery companies, like Morgan Financial Recovery, have the necessary resources, people, equipment, legal knowledge, and tools to help victims retrieve their misplaced money. Their only objective is to bring justice to those who have fallen for these tricks.

Frequently Asked Questions

Due to age-related health concerns, elderly people who are financially secure for retirement and frequently live alone are more vulnerable to fraud. It might be difficult to navigate online purchases if you lack digital expertise. Poor vision and memory further increase vulnerability.

Seniors, who frequently don’t keep up with current events, depend on sporadic media like TV and radio, which might not alert them to scams. Inform them of typical scams and provide financial support in the event that they come across dubious information.

Disconnect the call if you feel threatened. Only authorised Medicare representatives will contact you and request your healthcare number. Steer clear of unknown numbers, especially if they have different area codes, and avoid giving out personal information over the phone.

Recall that Medicare agents do not come to your door to offer you prescription drugs or supplies, nor do they run commercials for their goods on radio or television.
You can call the Medicare helpline, which is listed on your Medicare health card, if you need Medicare supplies or a prescription.

You can report Medicare scams to the organisation in charge of them, and they will take appropriate action to stop them and raise public awareness of them. It is essential to get in touch with Morgan Financial Recovery if you want your money back from Medicare fraud. Their knowledgeable staff will do all in their power to recover your money from the con artists.

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