Online scams have seen a huge surge in the past year, with a reported number of identity thefts and digital fraud rising by 25.07% in 2021, compared to 2020, according to TransUnion.

As our community may be aware, we have recently been targeted by scammers impersonating us, and offering ShareToken in exchange for your seed phrases, and personal security information. Although not an uncommon circumstance within our industry, we would like to take this opportunity to remind our users about their digital safety, and what triggers to look for when identifying a potential scammer.

Imposter scams will mimic anything that entices you to engage with them. This could be the likeness of a company, such as ShareRing, to the impersonation of social media challenges such as that on Instagram, where participants are asked to share their personal information in response to a question on their stories.

A key characteristic of a scam is usually associated with unusual payment requests such as making a direct bank transfer, often with urgency. This is one of the most prevalent methods used. Scams tend to manipulate emotion by also impersonating authority from government officials to family members. To keep your privacy safe, here are three tips you should always keep in mind:

  1. Never disclose passwords and seed phrases

Be alert while sharing your personal information. Do not save your credit/ debit card or personal details on a website. It is suggested to secure your privacy by using a code on every app & never provide any seed phrase, code or passcode to anyone. 

  1.  Be careful of fake websites.

Always head to the official websites or accounts. Many accounts mirror the official websites and may disguise themselves with very similar URLs (G00gle.com) or redirect people to unofficial payment links. Always check the domain name to see whether there is an “s” in the URL, E. g. “https://”, or a lock on the address bar. 

  1.  Avoid unknown caller or text messages. 

Do not respond to text messages or missed calls from unknown numbers. Never provide any personal details, security numbers, passwords and any personal identification to suspicious callers. If you receive emails with links and attachments, do not click on them to avoid phishing scams. 

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Reference:

TransUnion, 2021, Rate of Suspected Financial Services Digital Fraud Attempts Rise Nearly 150% Worldwide as Digital Transactions Increase (online)

Available from: https://bit.ly/3xEAOVq ( accessed 30 November 2021)

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