'CoinMarketCap Giveaway' Scam

'CoinMarketCap Giveaway' Scam Description

The 'CoinMarketCap Giveaway' scam tries to take advantage of any crypto-enthusiasts via a fake giveaway. The deceptive page makes an alluring proposal - it promises to double the amount that participants send. Of course, as most offers sounding way too good to be true, this one also is nothing more than a trick to obtaining money from unsuspecting victims.

When opening the page, users will first be presented with a choice between Ethereum and Bitcoin. After picking their preferred crypto-coin, users will be taken to an almost identical follow-up page. Here, the con artists reveal their offer - as part of an initiative to promote cryptocurrencies, they are supposedly going to redistribute a total of $35 million between all participants. However, visitors must first send an initial amount, for example, a sum between 0.02 and 50 BTC. The fraudsters promise to immediately send back double that amount. The deceptive site also uses a common social-engineering tactic by setting a 24-hour time limit for the offer

Naturally, the con artists have no intentions of giving any money back, and they are simply gathering all proceeds for themselves. Users should keep in mind that misleading attempts, such as 'CoinMarketCap Giveaway' are becoming increasingly common. Always exercise caution when encountering such websites, as it is always better to be safe than to lose any amount of funds to unscrupulous cybercriminals.