Hello everyone, This time I will try to finish the homework given by our professor @yohan2on with the topic of Crypto Scams and how to avoid them, I am very happy to take this crypto academy class, I get new knowledge by following the homework given by many of our reliable professors

What is a Crypto Scam?

You are plainly mistaken if you believe that everyone in the world is a decent person. The world is so complicated that you have to acknowledge that there are many individuals who seek money or profit by misleading other people; they are callous, nasty people who never consider the sentiments of their victims.

They simply believe that what they want must be obtained, regardless of whether the victim is an elderly woman trying to maintain her family or someone who is just beginning to generate additional money, such as in the crypto world. A victim is a victim for a criminal. There are no relevant standards, only benefits for him.

Of course, crime and fraud occur in the crypto realm, as our professor @yohan2on has described, and there is a lot of crime and fraud in this environment. This is due to the fast development of today's crypto world. Not only beginners, but also seasoned crypto gamers, might fall prey to fraudsters in the crypto realm.

Of course, fighting evil people in the crypto realm should be a priority for all of us. We must educate ourselves about the dangers associated with the investments we will make so that our money does not just vanish.

To summarize, a Crypto Scam is a deception or crime committed in the cryptocurrency realm in order to deceive or steal money from an investment. According to professor @yohan2on, there are various types of this scam, including: Phishing Sites, Phishing Emails, Fake Applications, Social Media Scams, Stupid Investments, and Pump and Dump Schemes. Scammers employ all of these ways to disarm their crimes in general.

According to the news that I reported on cbsnews.com, there have been 1000 fraudulent activities in the crypto world percent since October 2020, which is extremely concerning.

_{Screenshot From cbsnews.com}

As part of my assignment here, I will try to do some research on the https://bintake.net site, this is a fake Binance giveaway website.

_{Screenshot From bintake}

_{Screenshot From bintake}

On the site it says that:

Our marketing department here at Binance came up with an idea: to hold a special giveaway event for all crypto fans out there.

If you want to participate, it is simple to do. Just navigate to the BTC or BNB airdrop portal below to learn more:
Click here - official link to get free BTC (https://bintake.net/btc)
Click here - official link to get free BNB (https://bintake.net/bnb)

Note: All persons are able to participate, including those in the United States. All wallets and exchanges are eligible! The competition will last until the entirety of the 5,000 BTC and 50,000 BNB held in the airdrop-funds have been released. If you are late, your BTC or BNB will be instantly refunded.

Enjoy,
CZ 🔶 Binance
Source : https://bintake.net/giveaway

And after we click on the link:

_{Screenshot From bintake}

We are requested to transfer BTC to the address provided in amounts ranging from 0.02 to 5 BTC, with the promise of receiving 0.20 to 50 BTC in return!

Is this making sense? For those of us who already understand this type of garb, we may not believe it and may not even care about it; but, what about others who believe by spreading this? How much of their money should be stolen by con artists?

_{Screenshot From bintake}

Worse, they give fictitious shipment proof in the expectation that future victims will trust this statement. They also impersonated Binnace CEO Changpeng Zhao on social media.

_{Screenshot From bintake}

And after I checked the Binance Official Account, they never did the give away, so be careful of announcements like this.

_{Screenshot From Binance Twtter Offcial}

This dilemma leads to the conclusion that, :

• If there is a Giveaway announcement, or whatever. Don't be swayed by large sums of money.
• What is known as a giveaway is, of course, free. They will not charge the organization any fees.
• Before you participate, read every announcement you get.
• Verify the announcement's veracity.

To what extent have Crypto scams affected the Crypto space?

If there are many frauds and crimes, I believe there will be a lot of negative effects on the crypto world because many people would stay away from the crypto world because they are frightened of their cash being stolen and taken by evil individuals.

If we do not take urgent action to combat criminality and fraud in the crypto sector, crypto may cease to be a promising asset. However, as far as I am aware, the authorities have had a number of successes in combating this crime.

As a consequence of the numerous crimes that have occurred, many nations have a negative view toward cryptocurrency, to the point that crypto money is deemed illegal in certain countries.

Will regulations in Crypto add value to the Crypto space?

In general, I believe that a system that controls crypto activities is required in order to avoid crimes and frauds, safeguard investors' cash, and enhance the operation of crypto assets themselves.

Because there is frequently gambling or what is known as the zero sum game where there will be individuals who are rich and those who will lose, the crypto world needs to employ structural rules, and this has an influence on the economy in general. There are now rules that govern the crypto sector in several nations, but they are merely accommodating.

Blockchain technology, which is rapidly evolving, should experience development and provide innovation for people's financial convenience, and blockchain technology, which is also the home of cryptocurrencies, can be applied in a variety of fields, so don't let scammers and other fraudulent acts tarnish it.

Regard by @atim1234

CC My professor
@yohan2on
@yousafharoonkhan