How do I identify a potential digital currency scam?

Unfortunately scams (also) take place in the world of digital currency. In this respect it is important to keep in mind that if something sounds too good to be true (e.g. a website or service promises an unusual high return on investment or another unrealistic investment opportunity), it probably is.

To spread awareness of this risk and to safeguard you from it as much as possible, we have made an overview with recommendations. This is especially important because transactions of digital currency are almost always irreversible.

Please note: the overview below is limited and does not include all recommendations.

Recommendations:

  • Never share the password of your Bitvavo account with others. Also never share your password with Bitvavo or someone who pretends to be Bitvavo.
  • Never share the 2FA code from your Bitvavo account with others. Also never share your 2FA code with Bitvavo or someone who pretends to be Bitvavo.
  • Never provide access to your device to someone else if you are logged in to your Bitvavo account on this device.
  • Only trust emails which are really from Bitvavo, which could be recognized by the anti-phising code, and be aware of email addresses that look like ours, but are slightly different (such as support@bilvavo.com, support@bltvavo.com).
  • Check for grammatical errors in the email or on the website. Scammers often use sites such as Google Translate which tend to create a lot of grammatical errors.
  • Be careful when opening attachments included in an email. These might be harmful.
  • If a link to a website is included in an email, copy and paste it to your browser instead of clicking it directly. There is a possibility that the link does not direct you to the website you might expect.
  • Always keep your operating system of your computer up-to-date.
  • Use an anti-virus program on a regular basis. Scammers will often use malware to target people directly.
  • Only sign in to Bitvavo if a lock symbol is diplayed next to the address bar. Be aware of sites that resemble the Bitvavo site.
  • If you intend to send digital currency to an external wallet, first look for information about this address online.
  • If you intend to transfer digital currency to an external wallet, send a small test transaction before transferring the entire amount. This prevents you from accidently transferring a large amount to a wrong address or an address that cannot be trusted.

If you notice unusual behaviour or if you are in doubt about something, please let us know by sending an email to support@bitvavo.com with the subject "Urgent" so we can take action together as soon as possible to limit potential damages.


How did we do?