Telegram crypto scams
Telegram is one of the biggest social media platforms for cryptocurrency news, trading and sadly it is a breeding ground for scammers. People are being scammed every single day on telegram and the trend is not ready to stop. On this page you will find the trading scams that we know about that have been reported by our users or discovered by the BFS team.
Crypto signal providers can scam people in multiple ways. It is a lucrative bussiness for many and new traders fall prey very easily. In order to reduce the risk of being scammed we highly encourage any binancian to DYOR on the channel they want to join and to verify that the contact they are talking to on telegram is in fact a real admin of the group.
A recent trend is that scammers impersonate and copy the channels of the most known crypto signal providers and promise unbeievable profits to any new client. This is obviously a scam and you should turn and run as fast as possible. Where available please use the official links provided by the Binance Futures Signals provider and double check the admins identity.
Other scam techniques that telegram signals groups can use:
– Double your investment scheme
– Profit bloating
– Incredibly low prices
– Pump channels(not all though)
The average signal provider average monthly price is about $60-$110 , anything above this is overpriced and anything below can risk being a scam.
