Definition ∞ A cryptocurrency scam is a deceptive scheme designed to defraud individuals of their digital assets or fiat currency under false pretenses related to cryptocurrencies. These fraudulent operations often promise unrealistic returns or mimic legitimate projects to gain trust. They exploit public interest in digital assets and a lack of understanding regarding blockchain technology. Victims typically lose their funds with no recourse for recovery.
Context ∞ Cryptocurrency news frequently reports on various types of scams, including fake initial coin offerings (ICOs), phishing attacks targeting wallet credentials, and fraudulent investment platforms. The decentralized and often unregulated nature of digital asset markets can make it challenging for victims to recover lost funds and for authorities to prosecute offenders. Public education and robust security practices are crucial for individuals seeking to avoid these pervasive financial deceptions.
Blockchain Knowledge
Cryptocurrency Foundation
Cryptospace Newsfeed
