Marius Reitz, General Manager for Africa at Luno
Photo: File

DURBAN – Much like in the traditional investment world, cryptocurrency scams take place every day. 

So how do you protect yourself against these criminals? 

Luno, a South African cryptocurrency exchange said that it is imperative to be aware of the tactics being used in crypto scams despite safeguards already put in place to protect customers.

Marius Reitz, General Manager for Africa at Luno, unpacks the most common scam tactics and explains how to avoid losing your crypto to a con artist.

The most common method in cyber theft is tricking users into sharing information or granting scammers access to their accounts. Similar to the way hackers attempt to compromise traditional banks, crypto scam attempts are often disguised as requests from valid operations. The good news is there are a number of safeguards built into Luno’s platform which provide additional layers of security for users to avoid being scammed.