FakeCoins is an awareness campaign about cryptocurrency scams, created by the Civil Guard in association with police departments in Latin America.
The Spanish Civil Guard has created a communication and alert campaign to raise awareness among crypto communities in Spain, Latin America and Europe, called: “FakeCoins: cryptocurrency scams”The initiative has been carried out in conjunction with several police departments in Latin America and the European Union.
Cryptocurrency scams and frauds have become very popular in recent years. The objective of this campaign is precisely to educate and raise awareness among users, similarly to what has been done about fake news. In this sense, the Civil Guard group points out that one of the The best way to prevent this type of fraud is to have tools to detect them..
In Spain, the campaign is complemented by contributions from the Bank of Spain, whose deputy governor, Margarita Delgado, has pointed out that more than 12% of Spanish adults own cryptocurrencies. Delgado recommended to holders and investors that be very careful with the risks that these entail, such as volatility or the risk of total loss of the investment.
An international collaboration project
Police departments from Argentina, Bolivia, Colombia, Chile, Costa Rica, El Salvador, Guatemala, Honduras, Mexico, Panama, Paraguay, Peru, Portugal, the Dominican Republic and Uruguay have participated in the FakeCoins project.
In this project, the Civil Guard will work hand in hand with police departments and government agencies to prevent organized crime and strengthen anti-terrorist units, as well as encourage international cooperation, improving the exchange of information.
FakeCoins: the fake cryptocurrency that seeks to prevent fraud
The Civil Guard has pointed out that the lack of knowledge of the sector and of how cryptocurrencies work is the main tool used by scammers for their frauds.
In this way, the FakeCoins campaign is aimed at the entire population in general and Not only to cryptocurrency holders, including lawyers and law enforcement agencies from the participating countries.
As part of the campaign, up to six fake cryptocurrencies have been created, such as WebCoin, AppCoin or BesuCoin, which can be seen on their website. Each of these cryptocurrencies shows a type of scam that is common in cryptocurrencies.
For example, WebCoin explains a scam technique in which scammers create a fake, but very similar, version of a cryptocurrency services websiteThe level of simulation is so high that most users do not even realize they are on a fake page.
On the other hand, on the FakeCoins website you can also find a series of tips on how to avoid scams, as well as downloadable content in the form of guides and images to share on social networks. Finally, you will have a digital tool to report any scam.
