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How to avoid crypto scams?

How to avoid crypto scams?

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How to protect your data and funds online and on kanga.exchange?

We take our lives online more and more often nowadays: we do our shopping, we work, we pay our bills there. The Internet has made our lives easier, but at the same time we are more vulnerable to different forms of danger that lurks in the net. SCAM is a popular term used to describe all sorts of fraud and crimes and the individuals who are involved in such activities are called scammers. The risks related to cybercrime does not only concern wealthy people or big corporations. Each user (yes, including you, Dear Reader!) who logged in but once to an online shop, online banking system or a social portal is exposed to hacker attacks.

How to recognize a fraudster?

Being an account holder at kanga.exchange you are also in danger. Scammers pretend to be our ‘agents’, ‘brokers’ or ‘ambassadors’. ‘Brokers’ and other criminals (indeed, stealing you identity, fraudulently obtaining your money or setting up an account with your personal details is a crime), pretending to be stock agents, usually contact our users by phone, calling from suspicious numbers (often from other countries), try to contact them via Whatsapp, well known social portals or even through their mail boxes. They promise easy investment and fast profits. For example, they may ask you to pay „as little as PLN 1,000”, since they guarantee that in return for that amount you will get 0.1 BTC or ETH. 

Remember – Kanga Exchange does not cooperate with any companies which offer help in trading and becoming rich thanks to cryptocurrencies. Neither do our workers contact users in order to make them any offers to buy or sell, nor give investment advice. We are not qualified to do that.

So never submit your personal details, passwords or your phone number on suspicious websites luring you with extra profits. That is not how the world of cryptocurrencies work – nobody will ever give you additional funds for depositing money into some account. It is a fraud!

What to do when you have been frauded?

We will present two most common cases our Customer Service team has to struggle with most often. 

Situation 1: “I lost access to my e-mail address after someone tried to ‘take over’ my mailbox”.
What to do? First, it is always a good idea to verify your account through KYC (Know Your Customer) at kanga.exchange. Once you have your identity verified, contact us, describe your case and we will hold a video conference with you during which we will verify your identity. Next, we will change your e-mail address in your kanga.exchange account to a new one. Then you will be able to make transactions on our exchange again and most importantly you will not lose the funds accumulated in your account. 
Why run a KYC verification? So that we can access your documents (i.e. the document with which you confirmed your identity). Thanks to that we will know that you are our user and not a scammer! KYC is not as black as it is painted, is it? It is useful specifically for your own benefit! 

Situation 2: “I have been scammed”.
The second most common situation is when, unfortunately, you took the bait and went for the extra profits, you gave your personal details, e-mail address, access to your computer and even to your bank account. Or you paid your lifetime savings to an account provided by the fraudster, and the so-called ‘broker’ disappeared. 
What to do? The first thing you should do is immediately notify our Customer Service about the incident. Write us at [email protected] and describe your case and we will promptly block your Kanga account so that you have at least a slight chance of getting your funds back. Remember that blocking your account is not a form of penalty for wrong behavior, but an attempt to protect you! We never block your account without giving a reason. Blocking is effective when we suspect that there is something not right, i.e. when there is suspicion that it is not you making the withdrawals from your account or not you being ‘active’ on our market. 
The next step on our end will be to contact you. We will invite you to a video conference so that you can tell us in person and live all about what you described in your e-mail. Do not be afraid of this type of conversation. We are here to help you, suggest possible actions to take on your end and present what we can do for you. 

Summarizing, never believe any offers from alleged ‘agents’, ‘brokers’ or ‘ambassadors’. According to the cryptocurrency market laws, such professions do not exist. These are mere fraudsters. 
Additionally, always protect your account at kanga.exchange by using 2FA verification, that is a two factor authentication. Then even if your e-mail box is attacked or your passwords are stollen, no unauthorized individual will log into your Kanga account, because you will have to confirm the logging event by providing a code only you will know. 
Just as you protect your money in banking apps, protect them equally on Kanga – those are your funds, which sometimes are lifetime savings. Be cautious. The devil never sleeps and lurks at every corner waiting for us! 

author: Klaudia Ospa
Customer Service Manager at Kanga Exchange