What are the most common scams involving giveaway bots in the cryptocurrency industry?

3 answers

• Neeraj ChauhanMay 25, 2025 · 8 months ago
  One common scam involving giveaway bots in the cryptocurrency industry is the 'send me X and I'll send you Y' scam. In this scam, the bot claims to be able to double or triple your cryptocurrency if you send a certain amount to a specific address. However, once you send your cryptocurrency, the bot disappears and you never receive any returns. It's important to remember that legitimate giveaways will never ask you to send them cryptocurrency first.
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• gddmrubel miaAug 12, 2022 · 3 years ago
  Another common scam is the impersonation scam, where scammers create bots that pretend to be well-known cryptocurrency figures or exchanges. These bots will claim to be hosting a giveaway and ask you to send a small amount of cryptocurrency to verify your address. Once you send the cryptocurrency, the scammer will disappear and you won't receive any rewards. Always double-check the authenticity of the bot and the giveaway before participating.
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• Tushar BhambereJan 06, 2021 · 5 years ago
  At BYDFi, we prioritize the safety and security of our users. It's crucial to be aware of the risks associated with giveaway bots in the cryptocurrency industry. One way to protect yourself is to never send cryptocurrency to unknown addresses or bots claiming to offer guaranteed returns. Always do thorough research and verify the legitimacy of any giveaway before participating. If you encounter any suspicious activity, please report it to our support team immediately.
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