The risks of cryptocurrency exchangers
The more popular cryptocurrency becomes, the more fraud is coming in this industry. Most scammers are attracted by cryptocurrency exchangers, as a place with the highest concentration of cryptocurrency.
A cryptocurrency exchanger
- a service where users can exchange traditional money into cryptocurrency and vice versa, along with exchanging cryptocurrencies among themselves.

There are classical crypto exchangers and P2P exchangers.
- an exchange service that charges a fee for its services in the form of a commission.


A classic exchanger
- a cryptocurrency exchange directly between users.
P2P exchanger
You can read about 5 popular scam schemes with cryptocurrency exchangers below.


The scheme is designed for P2P exchangers. The fraudster promises that he will be the first who transfers money. But, for example, instead of $1007, he transfers you $1.007. Fraudster hopes that you will be inattentive, confuse comma with a point and send the whole amount to him.
1
Inattention to commas
Deceivers create a site that imitates an exchanger, most often it consists of just a couple of pages. They attract users with incredibly profitable rates.
2
Fake exchangers
In this case, fraudsters already create a site that completely imitates a well-known exchanger and advertise it through search engines, thematic groups, sites, etc. Phishing creators often communicate with victims on behalf of the support team.
3
Phishing
The scheme is used for P2P exchangers. The profile information of the exchanger's user is hacking and false addresses for accepting cryptocurrency or a false telegram contact are placed. Usually, the user does not immediately notice that the addresses have been spoofed.







4
Address spoofing
You are paid the full agreed amount, let's say $10,000 with an electronic payment system. But this amount is sent in parts at $500, $600, $1500. In most of the cases, it is a sign of "money laundering" from the drug trade. As a rule, payment systems consider such transactions as suspicious and block the account.
5
Money laundering
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