Ben Simpson (YouTube) warns that crypto is currently rife with scams: attackers create fake exchange websites that rank highly in search results and send phishing SMS claiming unauthorized withdrawals. He advises deleting suspicious messages and cautions against storing all crypto on exchanges, citing the FTX collapse as an example of the risk when exchanges act dishonestly or fail.
Getting into crypto now, it is just rife with scams. Scammers will replicate what looks like Coinbase as, like a different URL and they save the. They get the top spot on Google and then you, like searching Coinbase, you, like, click the link and then it's like it's a fake site. They do that for all different exchanges. Wallets. I get texts every day that says someone's withdrawing crypto out of your Coinbase account. Click here if it's not you. Yeah, man, that's crazy. That's a scam. 100%, that's a scam. Yeah. So I never. I just delete those. One of the biggest mistakes we see people make is that they'll store all of their crypto on a major exchange, right? And Coinbase. Coinbase is the most reputable. But what we saw a few years ago was, if you remember, ftx, FTX was like the most trusted exchange behind Coinbase. And overnight they realized that the founder was, like, doing some dodgy shit and basically blew up the entire company and everyone lost everything. There's not a whole lot of regulation around crypto exchanges. So if you're storing it on a. On an exchange that's not reputable and they go under like, yeah, you're in trouble.
