CoinGate has been a trusted player in the crypto industry for over 10 years, encountering numerous attempts by scammers. According to Chainalysis, $24.2 billion worth of crypto was sent to illicit addresses in 2023 alone, highlighting the relentless efforts of fraudsters. Despite being a prime target for fraudsters, CoinGate remains vigilant in combating these threats and encourages users to do the same by staying informed about common crypto scams and taking proactive measures to protect their transactions.
While phishing and giveaway scams are well-known, other common types of crypto fraud include fake investment platforms, fake ICOs/IDOs, rug pulls, fake Bitcoin mining services, and pump and dump schemes. CoinGate provides a secure platform that safeguards users from these scams by rigorously verifying merchants, adhering to KYC/AML regulations, using advanced encryption and secure infrastructure, employing secure payment gateways, mandating two-factor authentication, and monitoring transactions for fraud detection. By following these steps and staying informed about crypto scams, users can utilize CoinGate’s platform to process crypto payments securely and avoid falling victim to fraudulent activities.
