Issues such as poor consumer protection, price volatility, the risk of hacker attacks, and money laundering, are always lurking around the corner for the growing crypto market, and this has become a reason for major concern for some governments.
This scam entails receiving a phone call from a con artist who invites you to make investments in their app or website in exchange for large profits with no risk. A scam means a stranger posing as a member of the government body and asking you to give your private details such as your SSN, DOB, credit card details, etc.
Sometimes you may receive calls or receive an email from fraudulent websites asking for your private information. A phone number or email address can be used to simply authenticate an account. You can sign up on the platform for free but you will have to spend money if you want to start trading.