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Manyscam payments are irreversible.
Many crypto coins are created intentionally to scam those who purchase them, he said.
Be on the lookout.
You should be wary of newer ones until they find their legs, Alof said.
Only invest in established cryptocurrencies that have many years oftrading and market activitybehind them.
He recommended becoming a student of tokenomics, with a particular focus on howcoins and tokensare developed.
Once the victim invests enough money, the fraudster disappears taking the funds with them.
Do not invest with or send money to people youve only met online.
As a general rule of thumb, invest in coins that have utility, Alof said.
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