The safety and security of our users' information, accounts, and funds have always been a top priority. We have consistently emphasized educating our users and sharing information as we become aware of new scams.
Scammers are constantly coming up with new tricks, and lately, they have been extremely active and, over the pandemic, developed new and creative ways to take advantage of people when they have their guard down. We have seen several online scams actively targeting people online to deceive them out of their crypto.
Fraudsters do not discriminate, targeting the most vulnerable but also going after those that may think they are well-equipped to protect themselves.
Below is a list of common scams to watch out for and ways to protect yourself:
The scammer masquerades as an employer offering a job, and posting new employment opportunities on websites that we all use and trust. Once you go through the process of getting a job and a job offer is received, they tell the applicant to open a crypto account, get verified, and share their login credentials as part of some ‘employee onboarding’. They then proceed to either get the victim to fund their account or fund the account with the stolen funds, which they quickly withdraw from the user’s newly set up account. The individual who opened an account may lose money or may find themselves in the midst of moving illicit proceeds.
Relying on the assistance of a crypto broker, advisor, or account manager and sending crypto assets to external addresses that are controlled by companies outside of your jurisdiction may lead to loss and theft of funds. Such individuals and companies are waiting to take advantage of those who put their trust in their hands and allow them to trade on their behalf. We have identified that a number of such companies have been distributing fake emails claiming to be coming from the Ndax billing department. It says that free crypto was received but that the amount is blocked pending some compliance check and asks for 20% of the amount to a wallet address that they control. They call it a compliance wallet. If crypto is sent to that scam wallet, the transaction will be final and non-reversible. Please note that it is not a legal requirement and always leads to the loss of crypto assets. We strongly encourage everyone not to send any crypto assets for tax payments, encryption of crypto funds to your name, declaration, withdrawal fees, or any other fees, as they are not legal requirements. If such a letter or invoice is received, please notify our compliance department immediately.
Scammers target Google searches and direct those searching for the site to a Fake Ndax login page. They recreate only the login page that looks similar to the legitimate login page. If existing Ndax users log in using that fake site, the scammer may get hold of their login credentials
To protect:
Professional-looking websites try to act as investment advisors, crypto brokers, or account managers promising lofty returns. Once you fall for it, they ask you to install screen sharing software on your computer (most commonly used AnyDesk, Team Viewer, and Zoom), they get you to sign up for a platform like Ndax, get verified, deposit funds from your bank account, buy cryptocurrencies and transfer that crypto to an external wallet they control. The promised returns are so high, that a victim agrees to send the crypto without realizing it is probably never coming back.
To protect yourself follow these simple tips:
Someone may reach out through email, text, or a social media channel asking to connect. The first introduction may start with a fake social media profile or dating site. Once you enter into a virtual relationship, they find a number of shared interests and start with building and establishing trust and once that is done they share their success story in crypto asset trading or mining and offer to share their knowledge with you. Since they have done so well and you now fully trust them, since you know their cat's name and their favorite food, you start following them blindly, and that allows online fraudsters that are hiding behind a fake profile to take advantage and abuse the trust and relationship that was established.
To protect yourself follow these simple tips:
We have heard all this information over and over again from all of our service providers, on the news, and in our close circle and we constantly think that it will not happen to us. It is important to mention that it can happen to anyone and it is very important to keep your guard up ensure you never share information with anyone and stay alert and vigilant at all times.
Stay safe and keep your hard-earned money out of the fraudsters' pockets.