{"id":21041,"date":"2023-12-03T12:55:35","date_gmt":"2023-12-02T23:55:35","guid":{"rendered":"https:\/\/cryptocurrency.org.nz\/?p=21041"},"modified":"2024-02-02T16:18:40","modified_gmt":"2024-02-02T03:18:40","slug":"crypto-scams-nz","status":"publish","type":"post","link":"https:\/\/cryptocurrency.org.nz\/guides\/crypto-scams-nz\/","title":{"rendered":"Crypto Scams Unveiled | A Kiwi’s Defense Blueprint (2024)"},"content":{"rendered":"\t\t
Crypto scams have become an unwelcome companion to the rising tide of crypto in NZ.<\/p>
As Kiwis immerse themselves in the promising opportunities of the digital landscape, the specter of deceptive practices looms large. This guide, crafted for New Zealanders, unravels the specific challenges posed by cryptocurrency scams in Aotearoa. From impersonation tactics to intricate fraud schemes, we explore the nuanced world of scams, empowering you with insights to fortify your defenses and protect your crypto assets.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
Related Guides:<\/strong><\/p> Setting up a Crypto Wallet in New Zealand \u2013 Beginners Guide (2024)<\/b><\/a><\/p> How to Buy Cryptocurrency in NZ \u2013 New Zealand\u2019s Crypto Guide (2024)<\/a><\/strong><\/p> Hardware Wallets NZ \u2013 New Zealand\u2019s Crypto Guide (2024)<\/a><\/strong><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t As we delve into the depths of cryptocurrency scams in New Zealand, two prevalent types stand out prominently. The first involves deceptive maneuvers to obtain access to a target’s digital wallet or authentication credentials, while the second revolves around schemes that lure victims into transferring their cryptocurrencies directly to scammers.<\/p> Whether through impersonation, fraudulent investment propositions, or other malicious stratagems, these scams pose a significant threat to the integrity of NZ Hodlers.\u00a0<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t Easy Crypto NZ | Buy Crypto on an easy to use platform<\/p>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t Easy Crypto<\/a>\u00a0is New Zealand\u2019s largest and most popular cryptocurrency retailer, making it \u2018safe, smart, and easy<\/i>\u2018 for Kiwis to buy and sell over 160+ cryptos including Bitcoin in NZ.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t Rug pulls, a term that echoes with both nostalgia and trepidation in the world of crypto, describe a malicious maneuver that continues to plague unsuspecting Kiwi Investors.<\/p> This deceptive tactic unfolds when project members actively raise capital or crypto under the guise of funding a promising venture. However, the twist comes when, like a magician’s sleight of hand, they abruptly yank away the liquidity, rendering the project a mere mirage. In this orchestrated act of betrayal, the project’s architects vanish into the digital abyss, becoming utterly unreachable. Here is a prime example of a rug pull.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t Cloud mining, a concept that promises the allure of hassle-free cryptocurrency mining for New Zealand investors, has carved its niche in the cryptocurrency landscape.<\/p> These platforms strategically target retail buyers and investors, enticing them with the prospect of contributing upfront capital to secure a continuous stream of mining power and associated rewards. However, the mirage of simplicity shatters when the reality unfolds \u2013 many of these platforms do not possess the hash rate they claim, and, more critically, they fail to deliver the promised rewards after receiving your initial investment.<\/p> To learn more about Cryptocurrency Mining and the correct approach Cryptocurrency NZ Recommend our “What is Bitcoin & Cryptocurrency Mining NZ Guide<\/a>.”\u00a0<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t Descending the hierarchy of influence, fraudsters often adopt the guise of celebrities, business figures, or influencers in the cryptocurrency realm. In an attempt to captivate the interest of potential victims, numerous scammers employ the tactic of enticing individuals with promises of matching or multiplying the cryptocurrency sent to them.\u00a0<\/p><\/div> Within our Cryptocurrency NZ Communities<\/a>, we’ve encountered a concerning trend where impostors frequently targeting our founders, particularly Harry Satoshi<\/a>. It’s crucial to stay vigilant and recall that Harry will never initiate direct messages soliciting funds or your SEED phrase. Remain alert and be cautious of any unsolicited requests, as maintaining the security of your cryptocurrency assets is paramount in our community.<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t Phishing scams zero in on crucial information related to online wallets. The primary objective of these scams is to obtain the private keys of a crypto wallet\u2014a sequence of alphanumeric characters functioning as a password and essential for opening your crypto.<\/p> Phishing scams stand out as prevalent threats in the realm of online security, with the FBI reporting that over 300,000 individuals<\/a> (Page 8<\/em>) succumbed to such scams in 2022. Shockingly, the collective losses amounted to a staggering $52 million, emphasizing the need for heightened awareness and caution in safeguarding personal crypto assets.\u00a0<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t To avoid falling victim to scams, it’s crucial to take specific actions and stay vigilant. If you detect any warning signs, refrain from clicking on links or sending money. Additionally:<\/p>\n <\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t In the unfortunate event that you find yourself in a compromised situation or harbor any doubts about a potential scam, it’s crucial to take swift and decisive action. Follow the procedures outlined below to report the incident and seek assistance:<\/p> Contact Your Bank<\/strong>: Immediately report the incident to your bank’s authorities. They can guide you through necessary steps to mitigate potential financial losses.<\/p><\/li> File an Incident Report with NetSafe<\/strong>: Visit NetSafe’s website<\/a> and file an incident report. NetSafe, a trusted cybersecurity organization in New Zealand, will provide advice and may liaise with relevant agencies, including the police or Consumer Protection, on your behalf. You can also reach NetSafe via the freephone number: 0508 638 723 (NZ only).<\/p><\/li> Report Cybersecurity Issues to CERT NZ<\/strong>: If the incident involves cybersecurity concerns, you can report it through CERT NZ<\/a>, New Zealand’s Computer Emergency Response Team. They specialize in handling cybersecurity incidents.<\/p><\/li> Seek Help from Our Helpdesk Team<\/strong>: If you’re ever in doubt or need additional guidance, don’t hesitate to reach out to us personally. Our team members are here to assist you and provide the necessary support in navigating through the complexities of a potential scam. Visit our Contact Us<\/a> Page or email us contact@cryptocurrency.org.nz\u00a0<\/strong><\/p><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t When focusing on the warning signs of crypto scams mentioned earlier can assist in steering clear of trouble, there are additional measures beginners can adopt to safeguard their digital assets. Explore the following actions to prevent falling prey to crypto scams.\u00a0<\/p> Cryptocurrency NZ | Mastering Cryptocurrency Course<\/p>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\tTypes Of Cryptocurrency Scams NZ <\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
Rug Pulls <\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
Cloud Mining <\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
Imposter and Giveaway Scams <\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
Phishing <\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
How to Avoid Cryptocurrency Scams in NZ<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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How to Report Crypto Scams in NZ<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
Essential Tips for Beginners <\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t