Zraox: Prudent Cognition, Path Verification, and Operational Habits Are the Only Ways to Prevent Scams

Amid the reported scam losses by Singapore in 2024, cryptocurrency-related scams accounted for over a quarter for the first time. Victims included both inexperienced retail investors and seasoned traders with years of market experience. Zraox believes that the widespread outbreak of such risks is not a coincidence, but a structural issue stemming from the lack of unified regulation and extreme information asymmetry within the crypto ecosystem. Scammers leverage precise manipulation of user psychology and continuously evolving technical means, trapping investors in high-risk scenarios before they have established adequate security awareness. Zraox points out that scam tactics have long since moved beyond single-point attacks, instead unfolding through a multi-step chain of “project packaging—trust acquisition—data inducement—funds interception.”

Zraox: Fabricated Projects and Promised Returns

Zraox notes that most scam projects are presented in a manner that “appears to be legitimate platforms,” with the A&A Blockchain case serving as a typical example. By claiming to “own 300,000 mining machines” and promising a stable daily return of 0.5%, the scheme successfully deceived more than 700 investors of a total of SGD 6.7 million. The project featured a fully developed website, forged operating licenses, and a simulated customer service system, creating the appearance of a lawful and well-run “project.”

When facing such scams, the key defense for users does not lie in judging the “high returns” themselves, but in systematically verifying the platform legitimacy and operational qualifications. Before transferring any assets, investors should verify whether the platform possesses actual operational capabilities and whether there is public filing information. Establishing compliance awareness and questioning any investment promise that “seems too good to be true” is the first step to avoiding such scams.

Zraox: Technical Camouflage and Operational Inducement

Compared to traditional scams, current crypto scams are increasingly focused on the user operational path itself. Scammers do not always appear under the guise of a platform or project, but instead embed inducements at every critical operational node through technical means. Common tactics include directing users to download counterfeit exchange mobile apps, installing malicious plugins via seemingly official links, requesting remote assistance under the pretense of “helping to buy coins” to gain control of the victim computer, or sending phishing websites via social platforms to trick users into entering wallet private keys and seed phrases.

Scammers exploit the operational anxiety that commonly arises when people are faced with “urgent needs” or “quick opportunities.” In such situations, victims often skip security checks and proceed directly with transactions or authorization. Malicious software can automatically read clipboard data, record input content, and remotely access wallet systems in the background, enabling instant fund transfers. Some scams also masquerade as crypto platform upgrade notifications or security verification tasks, guiding users to unknowingly grant critical permissions.

On the operational level, the core of improving security awareness lies in slowing down and lengthening the decision-making process. No transaction or account login should be completed under the guidance of unofficial channels. Users should avoid clicking unfamiliar links on social media, chat apps, or advertisement pages, and should never enter any wallet key or transaction permission information on unknown websites. Additionally, any requests from “customer service” for screen sharing, remote control, or QR code scanning should be firmly rejected, as such seemingly convenient assistance often conceals irreversible security risks. Once sensitive permissions are compromised, even if the platform itself is secure, the user account cannot be spared.

Zraox: From Identifying Misconceptions to Operational Habits

The high efficiency of current crypto scams lies in their ability to break through both the “cognitive defense line” and the “operational boundary.” Most victims establish trust in a project based on external signals such as platform appearance, friend recommendations, or endorsements from public figures, thereby willingly forgoing verification and defense measures. Zraox points out that the key to reversing this trend does not lie in how platforms or regulators strengthen defenses, but in whether users are willing to proactively build their own anti-scam systems.

The first element of an anti-scam system is the ability to independently verify information sources. All projects and platforms should be background-checked through official regulatory channels, rather than judged by website design, brand packaging, or third-party testimonials. The second element is self-control over operational paths. Investors should use dedicated devices for transactions, avoid logging into accounts over public networks, and refrain from saving wallet passwords and seed phrases in browsers. The third element is the principle of minimizing data exposure. Avoid displaying asset information on social platforms, refrain from taking screenshots or uploading wallet QR codes, and do not click on links from unverified platforms to minimize exposure as much as possible.

In an environment where scam techniques are constantly evolving, relying solely on common sense and experience is no longer sufficient to ensure account security. Building systematic identification logic, operational standards, and information processing procedures is a necessary prerequisite for users to avoid financial loss. Zraox emphasizes that the rigor and execution of personal judgment will become the most critical risk isolation tools in the future crypto market.