How to recognize a fraudulent crypto channel in Telegram
Distinguishing a fraudulent cryptocurrency telegram channel from a reliable one can be difficult, especially for those new to this field. What should those who are just starting their journey in cryptocurrency pay attention to? We will talk about that in this article.
How to recognize a fraudulent crypto channel in Telegram
To begin with, we ask ourselves who owns this TV channel. If we are talking about an exchange or crypto exchanger, you need to make sure that it itself is not fraudulent, and only after that check the telegram channel.
Let's check if this exchange is represented on the aggregator CoinGecko and CoinMarketCap? Large exchanges are trying to get into these aggregators.
Let's check if this exchange is represented on the aggregator CoinGecko and CoinMarketCap? Large exchanges are trying to get into these aggregators.
If this is a crypto exchanger, then we analyze its representation on exchanger aggregators (BestChange, OkChanger)
It would not be superfluous to conduct research in search engines. If the first results include mentions of reviews about fraud, you should be especially careful.
Pay attention to the name and domain name of the exchange or exchangers. Often scammers imitate real services, creating similar names and website designs.
After we are convinced of the reliability of the company, we look for a mention on the website of their official telegram channel.
Pay attention to the name and domain name of the exchange or exchangers. Often scammers imitate real services, creating similar names and website designs.
After we are convinced of the reliability of the company, we look for a mention on the website of their official telegram channel.
If everything is fine, let's start analyzing the telegram channel.
What is the number of subscribers? How many publications were there? How many views do posts have? Are they uniform? When was the first publication?
The higher the user values and the older the channel, the better. A channel that has several thousand subscribers, but about zero post views should cause concern.
What is the number of subscribers? How many publications were there? How many views do posts have? Are they uniform? When was the first publication?
The higher the user values and the older the channel, the better. A channel that has several thousand subscribers, but about zero post views should cause concern.
Is there a blue verification checkmark? It won't always be there, but the fact that it exists is a positive thing.
Are there user reactions (Emojis) on the messages, how do the values compare with the number of subscribers and views? A very large number of people and a small number of reactions may indicate that either the content is of little interest or the audience is inflated.
If there are comments on individual posts, look at how similar the commentators profiles are to real people? The abundance of users without photographs, or images from the Internet, without a nickname, with hidden numbers, or missing information about themselves should cause caution. People tend to want to personalize themselves in some way. Of course, there are adherents of anonymity, but not all are like that.
We can study telegram channel statistics in TG Stat. An important point here is the dynamics of new subscribers and the appearance of new posts. The smoother and more stable the growth, the better.
Is it possible to somehow return stolen cryptocurrency through the authorities at the moment?
Recovering stolen cryptocurrency is a complex process that does not provide absolute guarantees of success.
This process depends on many factors, including methods of fraud, the actions of both the attacker and the victim, as well as the actions of crypto exchanges (if used to launder stolen funds) and law enforcement agencies. It is important to understand that recovering stolen funds is a process that requires time and effort, and cinematic scenarios of quick investigations do not correspond to reality. As a rule, successful refund cases take 5-7 months.
In the event of cryptocurrency theft, the following action plan is recommended:
This process depends on many factors, including methods of fraud, the actions of both the attacker and the victim, as well as the actions of crypto exchanges (if used to launder stolen funds) and law enforcement agencies. It is important to understand that recovering stolen funds is a process that requires time and effort, and cinematic scenarios of quick investigations do not correspond to reality. As a rule, successful refund cases take 5-7 months.
In the event of cryptocurrency theft, the following action plan is recommended:
1
Maintaining calm and contact with attackers.
Emotions can interfere with the return of funds and the normal structuring of circumstances.
If possible, keep in touch with the scammers, this may give you a chance to get a partial refund yourself. For example, you can play along with the attackers by saying that you are ready to invest even more, but your sister/brother/husband wants to make sure that they can get out part of the previously deposited amount. If you are convincing enough, scammers will meet you out of greed.
It is completely counterproductive to beg, appealing to your difficult situation, or to threaten attackers. They hear this every day.
Having contact with attackers for professionals will allow them to carry out social engineering to obtain data, which in some cases will allow them to establish the location or even the identity of the attackers.
If possible, keep in touch with the scammers, this may give you a chance to get a partial refund yourself. For example, you can play along with the attackers by saying that you are ready to invest even more, but your sister/brother/husband wants to make sure that they can get out part of the previously deposited amount. If you are convincing enough, scammers will meet you out of greed.
It is completely counterproductive to beg, appealing to your difficult situation, or to threaten attackers. They hear this every day.
Having contact with attackers for professionals will allow them to carry out social engineering to obtain data, which in some cases will allow them to establish the location or even the identity of the attackers.
2
Documenting the incident.
It is important to structure all the facts of the incident (dates, circumstances, all known contact details). Export correspondence with the attacker before he deletes them. It is advisable to have correspondence notarized. This can remove a number of legal issues in court. We also recommend asking your mobile provider and your bank for statements if you have communicated by phone with scammers or sent them funds from your card. It’s easier and faster for you as a client to do this than for a law enforcement officer to send an official request.
3
Conducting blockchain analysis.
Conduct a blockchain analysis of the flow of stolen funds. It is important to understand where the stolen funds are currently located and, if possible, to block them.
4
Contacting law enforcement agencies.
When submitting an application to law enforcement agencies, you must receive a notification coupon with a KUSP number. Law enforcement officials will not deal with your case without a statement, even if they tell you otherwise.
5
Communication with the crypto exchange.
If stolen funds were transferred to a crypto exchange, contact technical support immediately. This will help block funds. You will be asked to provide data on the circumstances of the incident, the results of blockchain analytics and confirmation of the fact of contacting law enforcement agencies. Further communication will be built between the law enforcement officer and the exchange directly.
6
Monitoring the progress of actions.
Then, within 3 to 30 days from the date specified in the notification coupon, law enforcement agencies must notify in writing of the decision (initiation of a criminal case, refusal to initiate a criminal case, or transfer of jurisdiction to another unit). If this does not happen within the prescribed time, involve lawyers, they will help ensure strict compliance with the law. Remember that cases related to cryptocurrency are not clear to every law enforcement officer due to their specifics. Help them increase their chances of getting a court decision to return the stolen funds to you.
What basic steps should those who want to secure their crypto wallet take?
Knowledge is the key to protecting your cryptocurrency!
Contrary to popular belief, most ordinary users lose money not because of targeted hacker attacks, but because of their own actions. Users, due to their illiteracy and gullibility, either send or transfer access to managing their funds to scammers.
To protect yourself:
To protect yourself:
Use only official wallets: download them only from official websites.
Never trust people you don’t know: don’t let them create or manage your wallet.
Keep the seed phrase secret: Never share it, do not save it to “favorites” in Telegram, in cloud services like Google Docs or in files on your computer. The safest way to store it is to write it down manually on paper and store it in a safe place, such as a safe.
Be careful when authorizing through a crypto wallet: Carefully check the permissions requested by sites.
How high is the growth of fraudulent telegram channels for cryptocurrency expected in the Russian-speaking Internet space in the coming years?
Fraudsters always go where their target audience is. For them, fraud is a business. During our investigations, we encountered groups consisting of more than 500 people. With a clear distribution of roles, with communication scripts, built-in business processes, and algorithms for laundering stolen crypto. Such groups use all means of communication (telephony, instant messengers, email, video calls...). Moreover, Telegram channels serve only as one of the platforms for attracting people. Next, interested users end up in the CRM system and are promoted by scammers through the “sales funnel.”
According to various estimates, the number of cryptocurrency owners in the world has already exceeded 420 million, and the growth rate of users reaches 39%. A lot of people come into this world expecting to make quick and easy money. However, not everyone understands the risks involved. Lacking sufficient knowledge and critical thinking, they become victims of scammers.
According to various estimates, the number of cryptocurrency owners in the world has already exceeded 420 million, and the growth rate of users reaches 39%. A lot of people come into this world expecting to make quick and easy money. However, not everyone understands the risks involved. Lacking sufficient knowledge and critical thinking, they become victims of scammers.
Our disappointing forecast: the increase in cryptocurrency fraud will be comparable to the increase in the number of new users.
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