Important Message:

Whenever Bitcoin reaches a new all-time high, scammers attempt to capitalize on this buzz by targeting ordinary people who are impressed by the price surge but may not have done any substantial research into Bitcoin—what it is, its pros and cons, and the problem it aims to solve.

These scammers prey on people’s desire to make quick gains, promoting other cryptocurrencies that are actually scams. Unlike Bitcoin, these cryptocurrencies are not decentralized; they have a person or group who can manipulate the protocol rules, much like banks manipulate fiat, interest-based currencies. To reach larger audiences, these scammers often pay influencers handsomely to promote these cryptocurrencies.