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In this episode, Matthew delve into the alarming world of cryptocurrency scams, emphasizing the importance of controlling your private keys to truly own your Bitcoin. We explore notorious incidents like the Bitfinex hack and the Mt. Gox losses, alongside various modern scams that are becoming increasingly sophisticated. The narrative unfolds with a cautionary tale of a seemingly innocent online purchase that spirals into a devastating loss of $500,000 worth of Bitcoin. Listeners will learn how scammers manipulate individuals through phone calls and deceptive tactics, leading them to unwittingly relinquish their assets.
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Timestamps:
00:02:50 - Real-Life Scam Example
00:03:31 - Why Scammers Target Crypto
00:04:44 - The Mt. Gox Disaster
00:05:56 - The Bitfinex Hack
00:07:01 - The FTX Collapse
00:08:04 - Common Scamming Methods
00:09:41 - Phishing and Social Engineering
00:11:47 - Rug Pulls and Pump and Dumps
00:13:54 - Protecting Your Bitcoin: Top Tips
00:18:00 - Currency Debasement: A Hidden Scam?
