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#51 2023-05-30 18:22:46

Camavinga
Member
Registered: 2023-01-06
Posts: 836

Re: Beware of pig butchering scam

Central to the appeal and functionality of Bitcoin and other cryptocurrencies is blockchain technology. As its name indicates, a blockchain is essentially a set of connected blocks of information on an online ledger. Each block contains a set of transactions that have been independently verified by each validator on a network.

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#52 2023-05-30 19:39:05

JONSNOWING
Member
Registered: 2023-01-06
Posts: 1,179

Re: Beware of pig butchering scam

Detroit;7469 wrote:
thrive;7424 wrote:
IyaJJJ;7398 wrote:

Out of curiosity but why would safely browsing the internet be difficult when people can easily do it through the Utopia Idyll browser or web proxy?

This is the exact thing I am trying to point out because this 21 century and there's some application which Utopia app client is one that does the secure task for you and with the use of an antivirus like Kaspersky there should be no issue.


Yeah, that's true there mate. But how many people are aware of all these informations? Many people do not know a lot of all these stuff including so-called cryptocurrency users.

I think even the Master minds in Cryptocurrency still keep on learning and developing new knowledge regularly. I know there are some basic information every crypto user should know but some can be in the upcoming forums where little or no informations like this are shared to them

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#53 2023-05-30 19:49:55

PEACEMAKER
Member
Registered: 2023-01-27
Posts: 412

Re: Beware of pig butchering scam

JONSNOWING;10912 wrote:

I think even the Master minds in Cryptocurrency still keep on learning and developing new knowledge regularly. I know there are some basic information every crypto user should know but some can be in the upcoming forums where little or no informations like this are shared to them

You are very correct, there is so much information on the Crypto space that one cannot learn everything at a go. We are always trying to acquire more knowledge by joining discussion on forums and reading other resources as well.

I have learnt a lot from being on this forum and i have the helpful members here to thank for it.

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#54 2023-05-31 19:40:00

Detroit
Member
Registered: 2022-12-27
Posts: 1,999

Re: Beware of pig butchering scam

Scammers pose online as billionaires or well-known names who promise to multiply your investment in a virtual currency but instead steal what you send. They may also use messaging apps or chat rooms to start rumours that a famous businessperson is backing a specific cryptocurrency. Once they have encouraged investors to buy and driven up the price, the scammers sell their stake, and the currency reduces in value.

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#55 2023-05-31 19:44:18

MRBEAST
Member
Registered: 2023-05-22
Posts: 410

Re: Beware of pig butchering scam

Detroit;7469 wrote:
thrive;7424 wrote:
IyaJJJ;7398 wrote:

Out of curiosity but why would safely browsing the internet be difficult when people can easily do it through the Utopia Idyll browser or web proxy?

This is the exact thing I am trying to point out because this 21 century and there's some application which Utopia app client is one that does the secure task for you and with the use of an antivirus like Kaspersky there should be no issue.


Yeah, that's true there mate. But how many people are aware of all these informations? Many people do not know a lot of all these stuff including so-called cryptocurrency users.

So called cryptocurrency users, do you have problem with them, we no information is meant to find you sleeping before you can get any information you need to show interest in the information and then maybe the information would be accessible to you.

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#56 2023-05-31 20:09:55

Camavinga
Member
Registered: 2023-01-06
Posts: 836

Re: Beware of pig butchering scam

In spite of, or maybe because of the recent high volatility of this asset class, cryptocurrencies are even more part of the mainstream discourse in finance, in which “buy low, sell high” is the cardinal rule.

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#57 2023-06-01 18:14:48

Detroit
Member
Registered: 2022-12-27
Posts: 1,999

Re: Beware of pig butchering scam

Determining valuation is not the only challenge in the crypto ecosystem: identification, monitoring, and management of risks defy regulators and firms. These include, for example, operational and financial integrity risks from crypto asset exchanges and wallets, investor protection, and inadequate reserves and inaccurate disclosure for some stablecoins.

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#58 2023-06-01 18:52:53

Camavinga
Member
Registered: 2023-01-06
Posts: 836

Re: Beware of pig butchering scam

Utopia p2p network offers cheaper and faster peer-to-peer payment options than those offered by traditional money services businesses, without the need to provide personal details.

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#59 2023-06-02 18:24:20

Detroit
Member
Registered: 2022-12-27
Posts: 1,999

Re: Beware of pig butchering scam

Many people know that buying new crypto coins on decentralized and centralized crypto exchanges is possible. However, a new project’s journey starts. It also offers useful insights on new coins and their development updates.

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#60 2023-06-02 19:28:55

Camavinga
Member
Registered: 2023-01-06
Posts: 836

Re: Beware of pig butchering scam

Many cryptocurrency developers choose to hire specialized blockchain auditors to review their blockchain’s code and identify any vulnerabilities.

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#61 2023-06-02 19:31:12

Kelechi
Member
Registered: 2022-12-25
Posts: 2,969

Re: Beware of pig butchering scam

Camavinga;11505 wrote:

Many cryptocurrency developers choose to hire specialized blockchain auditors to review their blockchain’s code and identify any vulnerabilities.

Well most cryptocurrency also use this Audit as a means to boost their profile so as to attract more investors, so it's losing its credibility

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#62 2023-06-02 20:30:24

PEACEMAKER
Member
Registered: 2023-01-27
Posts: 412

Re: Beware of pig butchering scam

Camavinga;11505 wrote:

Many cryptocurrency developers choose to hire specialized blockchain auditors to review their blockchain’s code and identify any vulnerabilities.

In addition to having auditors that can review the code, they can also run a beta platform where users can check for any bugs or vulnerabilities experienced while accessing their project.

They sometimes have a reward for those who audit their codes.

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#63 2023-06-03 19:10:41

Detroit
Member
Registered: 2022-12-27
Posts: 1,999

Re: Beware of pig butchering scam

While it’s unclear exactly what role cryptocurrency and blockchain will play in the future of business, digital assets and associated technologies have had staying power. Internal auditors need to take note now and prepare for crypto and blockchain audits, rather than getting caught off guard and introducing new risks.

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#64 2023-06-03 19:15:04

Camavinga
Member
Registered: 2023-01-06
Posts: 836

Re: Beware of pig butchering scam

Leverage allows for better capital efficiency as traders do not have to lock up entire amounts of capital. It increases both potential returns and risks, which is why traders must always exercise caution.

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#65 2024-02-18 21:40:16

KAMSI_UG
Member
Registered: 2022-12-26
Posts: 2,691

Re: Beware of pig butchering scam

The term "pig butchering scam" in the context of cryptocurrency typically refers to a fraudulent scheme where unsuspecting investors are lured into investing their money into a project or cryptocurrency that promises high returns. However, instead of delivering on these promises, the organizers of the scam disappear with the investors' funds, leaving them with significant financial losses.

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#66 2024-02-18 21:46:33

CrytoCynthia
Member
Registered: 2022-11-19
Posts: 3,099

Re: Beware of pig butchering scam

KAMSI_UG;32324 wrote:

The term "pig butchering scam" in the context of cryptocurrency typically refers to a fraudulent scheme where unsuspecting investors are lured into investing their money into a project or cryptocurrency that promises high returns. However, instead of delivering on these promises, the organizers of the scam disappear with the investors' funds, leaving them with significant financial losses.

You are right mate, Involvement in pig butchering services can have legal consequences, as participants may unknowingly become accomplices to fraud. Additionally, associating with such schemes can damage one's reputation within the cryptocurrency community and beyond.
In

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#67 2024-02-18 21:59:25

Kelechi
Member
Registered: 2022-12-25
Posts: 2,969

Re: Beware of pig butchering scam

Once funds are sent to a fraudulent scheme, it can be challenging, if not impossible, to recover them. Cryptocurrency transactions are irreversible, and scammers often operate anonymously, making it difficult to track them down.

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#68 2024-02-22 20:19:37

Lanistergame2
Member
Registered: 2022-12-25
Posts: 2,345

Re: Beware of pig butchering scam

Its important to be cautious of scams. If you have encountered a pig butchering scam, consider reporting it to local authorities or relevant consumer protection agencies. Always verify information and be skeptical of unsolicited offers or requests for personal details.

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#69 2024-02-22 22:22:51

Kelechi
Member
Registered: 2022-12-25
Posts: 2,969

Re: Beware of pig butchering scam

To mitigate the risks of pig butchering scams in cryptocurrency, investors should exercise caution, conduct thorough due diligence before investing, avoid schemes that promise unrealistic returns, and seek advice from trusted financial professionals or regulators if they suspect fraudulent activity

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#70 2024-02-22 22:25:18

CrytoCynthia
Member
Registered: 2022-11-19
Posts: 3,099

Re: Beware of pig butchering scam

Kelechi;32584 wrote:

To mitigate the risks of pig butchering scams in cryptocurrency, investors should exercise caution, conduct thorough due diligence before investing, avoid schemes that promise unrealistic returns, and seek advice from trusted financial professionals or regulators if they suspect fraudulent activity

You are right mate, additionally, education and awareness about common investment scams can help individuals recognize and avoid fraudulent schemes in the cryptocurrency space.

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#71 2024-02-22 22:26:18

KAMSI_UG
Member
Registered: 2022-12-26
Posts: 2,691

Re: Beware of pig butchering scam

Pig butchering scams can harm the broader cryptocurrency community by eroding trust, attracting negative attention from regulators and law enforcement agencies, and reinforcing negative perceptions about the legitimacy and security of cryptocurrencies as an investment asset class.

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#72 2024-02-29 22:19:30

Kelechi
Member
Registered: 2022-12-25
Posts: 2,969

Re: Beware of pig butchering scam

KAMSI_UG;32587 wrote:

Pig butchering scams can harm the broader cryptocurrency community by eroding trust, attracting negative attention from regulators and law enforcement agencies, and reinforcing negative perceptions about the legitimacy and security of cryptocurrencies as an investment asset class.

It’s best to ensure that any cryptocurrency service you use, including recovery services, is reputable and well-established within the industry to avoid potential scams or fraudulent activities

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#73 2024-02-29 22:20:25

CrytoCynthia
Member
Registered: 2022-11-19
Posts: 3,099

Re: Beware of pig butchering scam

Also Prioritize platforms or services that offer secure communication channels and encryption to protect your personal and financial information during the recovery process.

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#74 2024-02-29 22:21:25

KAMSI_UG
Member
Registered: 2022-12-26
Posts: 2,691

Re: Beware of pig butchering scam

Well, research the background, reputation, and track record of the service provider before entrusting them with your cryptocurrency assets

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#75 2024-03-03 12:59:27

Lanistergame2
Member
Registered: 2022-12-25
Posts: 2,345

Re: Beware of pig butchering scam

Pig butchering scams often involve fraudulent schemes where scammers pose as legitimate entities offering pig butchering services. Victims may pay upfront for services that are never delivered, resulting in financial losses

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