This Platform is Scamming Users in a Classic Way

The platform is now running the “$100,000,000 GIVEAWAY CRYPTO.”

“During this one-of-a-kind event, we will give you the chance to win 100 000 000 000 SHIB, 5 000 BTC, or 50 000 ETH,” the website says.

Shiba 22
Shiba 22

To enter the giveaway, users must follow the following instructions:

  • Users must have a functional wallet with the desired amount in order to participate.
  • Send the specified number of coins to the address listed below.
  • Once the platform receives your payments, it will give them back to you according to the guidelines.
  • Users can only enter our giveaway once, so act quickly!

Unfortunately, since the last great bull run in late 2017, cryptocurrency giveaway scams have been an issue for those in the crypto world.

In a nutshell, a giveaway scam is a type of social engineering in which a scammer tries to fool a cryptocurrency investor into thinking that a prominent cryptocurrency exchange or celebrity is throwing a giveaway. The catch is that to enter the giveaway, you must first deposit a particular amount of cryptocurrency to a giveaway address so that your wallet address can be verified and you can collect your portion of the prize.

A platform promising a heavy amount as big as $100,000,000 and claiming to double the amount deposited appears fishy.

This particular giveaway promises a profit of 200%.

There are two simple things to remember while dealing with such situations:

It’s almost probably too fantastic to be true if it sounds too good to be true.

Before you send your money, think twice. 

You will not be able to get your money back if you make a cryptocurrency transaction.

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Aadrika Sharma

I enjoy writing and try to learn new things every passing day!