What are the common scams involving gift cards in the cryptocurrency industry?

3 answers

• Dec 20, 2021 · 3 years ago
  One common scam involving gift cards in the cryptocurrency industry is when scammers ask victims to purchase gift cards and provide the codes as a form of payment for cryptocurrency. They claim that the gift card codes will be used to purchase the cryptocurrency on the victim's behalf. However, once the scammers have the gift card codes, they disappear and the victims are left with worthless gift cards. To protect yourself from this scam, never provide gift card codes as a form of payment for cryptocurrency transactions. Legitimate cryptocurrency exchanges and platforms will never ask for gift card codes as payment.
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• Dec 20, 2021 · 3 years ago
  Another common scam is when scammers pose as customer support representatives from cryptocurrency exchanges and ask victims to purchase gift cards to resolve a supposed issue with their accounts. They claim that the gift cards will be used to verify the account or unlock additional features. However, once the scammers have the gift card codes, they disappear and the victims are left without their money or access to their accounts. To avoid falling for this scam, always verify the legitimacy of customer support requests by contacting the exchange directly through official channels.
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• Dec 20, 2021 · 3 years ago
  At BYDFi, we prioritize the security of our users and would like to warn against the common scam involving gift cards in the cryptocurrency industry. Scammers often target individuals by posing as cryptocurrency traders or brokers and convince them to purchase gift cards as a form of investment. They promise high returns and claim that the gift cards will be used to purchase cryptocurrency at a discounted rate. However, once the scammers have the gift card codes, they disappear and the victims are left with financial losses. To protect yourself, only engage in cryptocurrency investments through reputable and regulated platforms, and never use gift cards as a form of investment.
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