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Watch Out for These Cryptocurrency Scams

There is so much hype about alt-coins lately that there are now reports of people even taking out second mortgages and home equity lines to buy them.

There are many ways cryptocurrency investors can lose their shirts to scammers.

The first is when hackers attack the infrastructure underpinning these coin markets (ex: exchanges, digital wallets, mining companies, web host services, etc.).

The second is when criminals target investors directly. but the primary ones to worry about are initial coin offering (ICO) fraud

 **Initial Coin Offering (ICO) fraud**
An ICO is when a newly invented cryptocurrency is launched to investors.  

**Phone-porting**
Cell phone identity theft, also known as "phone-porting

**Fake digital wallets**
Cryptocurrency has to be stored somewhere, and investors often use virtual wallets.

**Bitcoin-stealing malware**
It's estimated that nearly one-third of all home computers are infected with some type of malware. 

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