Protect Yourself from Scams

SpectroCoin is an all-in-one solution for cryptocurrencies founded in 2013. Over these 5 years of activity, we have built up a community of over 860,000 people and we are constantly working on making cryptocurrencies accessible for everyone. SpectroCoin offers convenient ways of sending and receiving funds, as well as payment processing solutions for merchants, and currently supports 250 countries and territories worldwide. This not only allows our clients to have an easy and convenient experience on our website, but it also grabs the attention of scammers. At our company, we go to great lengths to keep our clients’ information safe. Lately, we have noticed a surge in fake SpectroCoin scam websites. Thus, today, we would like to present to you some practical precautions that you can take in order to avoid common scams and frauds.

Protect yourself from scams!

How to identify a scam, phishing websites, and fraud?

Email scams. When it comes to scams, you usually can notice patterns: emails saying that you have won the lottery or that a person in distress needs money urgently. Those emails usually come from people you do not know or pretend to come from a friend or service you actually use, like SpectroCoin. Scam, however, is an avoidable issue and you can protect yourself from these situations. When it comes to emails, always check the identity of the sender.  Even though the sender, for example, is named SpectroCoin, review the actual email address as it can tell a different story (i. e. sender’s name – SpectroCoin; email – tfv123za@gmail.com). Scammers especially tend to use general email domains such as @gmail.com rather than custom ones like SpectroCoin’s @spectrocoin.com. The reason behind these phishing attempts is to obtain your personal information in order to gain access to your accounts and funds.

Some signs of an email sent by a fraudster are:

  • The email is sent by a different address than the one the company uses to communicate with you.
  • You receive an urgent request to immediately provide information or funds, otherwise, your account may be closed.
  • You did not expect an email from the company that appears to have sent it.

Phishing websites. Phishing websites are created with the same layout and information as the legitimate one, with the aim to steal personal data and funds. Just like fake email addresses, they usually have a different name than the official website. Sometimes the difference in the name of the website can be a single letter as phishing websites are trying to be as indistinguishable from the original website as possible. Other times, the difference lies in the domain extension (.com; .net; .org etc). Customers should be aware that scammers sometimes pay to advertise the phishing websites so that such websites would appear first in Google, Bing, and other popular search engines as most people click on the first search results that appear. Thus, it is extremely important to pay attention to the URL when you are visiting a website.

Beware of phishing websites

Fake social media profiles. Nowadays, the fake social media profile issue is very relevant even for companies. Thus, you should trust only those social media accounts that are provided on the official website of the company. Scammers try to make their social media profile look like the official one so they can be hard to spot. Just like with phishing websites or emails, if in doubt, look out for misspellings in the name of the account. Fake social media profiles also often are following more people than the actual followers they have or do not have a rich history of posts.

Things you can do to avoid scam

Two-factor authentication. We offer to our users the option of setting a two-factor authentication method for their login, withdrawals or change of profile information so you will only be required to input a key when performing such operations. If someone steals your login details, they would still be unable to withdraw money without the 2FA code. Thus, make sure you choose an authentication method that you can ensure the security of, whether it is SMS, Google or email.

Double check the website’s URL. Another measure you must take is to always check the website URL before inputting your code. If there is a typo in the name of the company or something looks different than the website that you are used to, do not insert your code and contact our Support team to make sure you are in the correct website. Bookmarking the URL of the websites you visit often, especially the ones in which you hold funds and perform financial operations, is also highly recommended. This will prevent you from accidentally visiting phishing websites, such as fake SpectroCoin scam pages. At SpectroCoin, we use encryption in order to keep your data safe. When you visit SpectroCoin.com, you will see an icon and ‘https’ informing you that this is a secure site. By clicking on the lock, you can also find the security certificate issued to the website.

Encryption of data

Do not provide sensitive information via email or unofficial communication channels. SpectroCoin will never send you emails or social media messages asking for your password or pin codes and when in doubt, you can contact directly our support team through the 24/7 Live Chat available on our website.

Beware of suspicious links and documents. We highly recommend that you do not click on any links or download any files if you are not sure who sent it and why. Malicious links that contain ransomware or other types of viruses are disguised as legitimate files/links, which might trick users into downloading or opening them. If you already clicked on the link and it compromised any of your devices, we recommend that you use the Europol project nomoreransom.org to help you decrypt some types of ransomware. Besides decryption tools, they also provide advice and have a list of the places you should contact in your country in case you have fallen victim to a ransomware.

Update your devices and applications. The SpectroCoin team advises its users to create and update backup files, as well as to update their devices and apps whenever possible. In case your phone or computer is compromised, having a backup will minimize the effects since your personal data will not be lost forever. Antivirus and up to date software are also a must, since outdated equipment may leave spaces for potential security breaches through cyber attacks. For a final check of URLs and files, you can also use this online tool: https://www.virustotal.com/#/home/url. It will analyze if the domain/file contains malware or if it is safe to use it.

Change your account password frequently. From time to time, our system will suggest that, when you log in to your account at SpectroCoin, review your password and change it. You should change the passwords on all your devices from time to time, making sure you do not use the same one for several accounts, and that you are not using sequences (‘abcd1234’), names, common word or dates (‘spectrocoin2013’), since they could be easily guessed by someone else.

Do your research. If it is your first time visiting a website that you would like to sign up to do a thorough research of the company or organization that owns the website. A few things you should look out for:

  • A legitimate company will almost always provide official contact details on their website and will be responsive in their communications.
  • While crypto companies, in general, are fairly new, a good sign is if a company has been operating for years, like SpectroCoin, and not days or months like those SpectroCoin scam pages that are impersonating us.
  • If necessary, check whether the business has officially registered with local authorities.

These are only a few measures but they can help you protect yourself from unauthorized activity in your account at SpectroCoin, scam or fraud.

Is SpectroCoin legit?

SpectroCoin statistics

When it comes to our website, our services are regulated by EU laws and directives. The team members at SpectroCoin review and follow strict procedures when dealing with your data and funds. For that, we constantly participate in courses and seminars to revise and improve our practices. Even though cryptocurrencies are not regulated, our company works under EU laws and directives, implementing international AML standards and processing funds through regulated EU financial institutions. This means that in case we notice potential illegal activities or fraud, we collaborate with law enforcement agencies for the investigation, which helps to ensure that you have a safe environment in which you can store, buy and sell your cryptocurrencies.

We are also constantly on a lookout for fake SpectroCoin scam websites so that we could protect our users from falling into their trap. If you come across a phishing website or unsolicited email, you can also help us and others by reporting it at the econsumer.gov website.

If you suspect someone has accessed or can access your account unauthorizedly, please contact SpectroCoin support via the “Live Chat” option on our website.