Top Fraud Trends and How to Avoid Them


  • What is digital fraud
  • Top fraud trends 
  • General Good security practices

As the world is digitizing and advancing towards better technological tools, the rate of cybercrime is also increasing. There is fraudulent attacks everywhere especially when it comes to finances. There are people out there in search of opportunities to rip people out. 

As we advance towards the world of digital assets and cryptocurrencies we must ensure that all our assets are safe and sound. To avoid any threat and attack we must know the different forms in which we can be attacked being crypto investors. let us understand what are the top frauds in the financial markets and how we can avoid them. 

What is Digital Fraud? 

It’s nothing but another form of cybercrime fraud that uses the internet as a mode of conduct. This fraud involves providing incorrect information and hiding essential information to trick innocent people around. The main intention of these fraudsters is to distress the victim and cause financial harm to them. The social engineer the person to do something that they shouldn’t do such as sharing personal and confidential data. 

Impersonation or Identity Theft 

The attacker/ hacker impersonates someone else (such as the employee of a reputed organization you might be associated with) to extract important information from the victim. It could be as simple as receiving text messages over different social media platforms or mobile phones presenting a lucrative deal to trap the victim. The deals are such that more often than not people fall victim to such attacks. 

Hackers often impersonate someone else and demand financial help from the victim’s end in the return for helping them out with their issues. Whenever you come across such attempts where you are asked to meet certain financial demands to get your work done, there is a good chance that it is a fraudulent scheme. 

Social Engineering 

In social engineering, the attackers first collect information about the victim through different social handles and through various other ways. They then chalk out a scheme to exploit you using that information of your social life. 

Some instances of social engineering can be users receiving calls from banks or investment brokerage firms about their accounts being hacked. The attacker then demands the victim to visit a certain site to reset the password. This link is often a malicious link that creates a bug to identify the current password of the victim. Thus, gets the necessary information to exploit the person. During such scenarios, the victim must confirm it with the designated organization in this case their bank before taking any step. 

Account Take Over 

Many users often have the habit of using the same password across different platforms. Once the password is leaked, the attacker might access all the accounts of the user if 2FA has not been enabled. This is a very common example of an account takeover. 


Phishing is the malpractice of sending fraudulent messages purporting to be from dignified organizations. Read in detail about phishing attacks and how to avoid them. 

General Good Security Habits 

Create Unique new email 
Enable 2FA
Audit the account activity logs
Verification is a must 
Be wary of unexpected requests 

Create Unique and New email– Users are advised to create a unique and new email before signing up for crypto platforms. Don’t share this email address on social media platforms. The password must be strong at least 20 characters. 

Enable 2FA– 2-factor authentication acts as a very strong line of defense against account takeover if the password gets compromised. 

Audit the account activity logs regularly– An anomaly can be easily spotted if there are regular audits of these logs. Look for anomalies in the activity time, geolocation as well as IP address. 

Verification is a must– You must always verify the URLs, identity, and IPs before sharing any sensitive data. 

Be wary of Unexpected requests– Try not to fall prey to unexpected requests. It is especially relevant in the case of phishing. 

Verified CoinDCX Urls 

CooinDCX Platform- https://coindcx.com/

CoinDCX playstore – https://app.adjust.net.in/6m5k691?campaign=Blog&adgroup=Article&creative=cta

CoinDCX Appstore – https://app.adjust.net.in/6m5k691?campaign=Blog&adgroup=Article&creative=cta

CoinDCX support portal- https://support.coindcx.com/hc/en-gb 

CoinDCX careers page-  https://careers.coindcx.com/

Wrapping it Up! 

In these times of new-age technology, we have to be very careful with our assets. There are eyes tracking your activity even when you think you are the safest. Therefore, take all the security measures discussed above to avoid security threats. 

Stay updated with the latest cryptocurrency updates and cyber security tips with CoinDCX. Binge learn the easiest and simplest cryptocurrency course at DCXLearn. Start your cryptocurrency journey with India’s simplest and safest investment app, CoinDCX.

Share this Story

Check Also

Transparency – The currency of trust at CoinDCX

CoinDCX publishes Proof of Reserves Report with Nansen ...



    Invest in Bitcoin, Ethereum, & other 200+ crypto assets.
    Download the app now, register & start with as low as Rs.100
    ios download link
    android download link
    qr code for download