Telegram Scams on The Rise, Here’s How to Exercise Caution When Investing

Online scams have been a significant problem to many individuals, landing them in various predicaments as a result.  Telegram plays a major role in hosting some of the worst scams that end up crippling people’s finances in both fiat and crypto worlds.

What Telegram Scams Entail

According to 2020 statistics, Telegram currently hosts over 400 million users, with over 15 billion messages in circulation. As a competitor of the Facebook-owned WhatsApp, the platform is an environment for parties worldwide to exchange digital information. Furthermore, it handles both public and private platforms; users can message each other privately while content creators can provide information to their subscribers.

However, this traffic has opened up Telegram to both genuine users and fraudsters alike. In that case, scammers can use the platform to swindle users off their personal information and money. Basically, they utilize two methods: phishing and fake product promotions.

Phishing involves messages from fake service providers declaring your account compromised. The parties will then ask for your password and other vital information that will end up as a trap. Phishing is a common scamming method, especially on emails.

The second, which is fake product promotions, involves scammers advertising lucrative deals at a lower price to lure in users. They may ask you to send them money whereby your card will experience issues during the transfer. As such, the fraudsters will find ways to make a user send their card details. In other cases, they will suggest that you need to send more money to complete your transaction and earn profits.

A Festering Wound

Despite the constant warnings, many users can emerge as perfect prey for the individuals controlling the scams. On Telegram, it would be wise for anyone who joins to be extremely cautious when handling anything. Despite the good deals, anyone who wishes to invest should keep their eyes open for any warning signs from the word go.

One such indicator is that most scammers will pose as an official channel on Telegram. Just because someone has the word official does not mean that they are. Secondly, scammers will usually approach you first. Therefore, if you are new to Telegram and see any non blue-ticked message, it is best to avoid engaging and report the user immediately.

Third, brings in the idea of cheap is always expensive. That means that a too-good deal should make you think twice before involving yourself. As much as a golden opportunity comes into play, if you are not sure, do not be a part of it. 

The list is but a short one as scammers look for new ways to commit fraudulent activities. It is mostly up to you as a user to ensure that you stay alert and try to recognize red flags in anything that comes your way. Furthermore, you can always take the long way to invest and earn your profits by learning the basics of everything you need to involve yourself in. The more information you dig into such situations, the easier it will be for you to avoid any scams.