Crypto scams have been on the rise globally, especially in countries where crypto has just started to gain popularity. While some of these scams (pump or dump schemes) have been popularized by celebrities like Kim Kardashian and Floyd Mayweather, some of them are carried out by scammers by impersonating popular personalities like Elon Musk and Barack Obama on social media platforms and promising to double the amount of crypto that one sends to their wallet. People who are new to the world of crypto are more vulnerable to falling for these scams. The scammers make sure that their websites look legit, making it hard for even experts to differentiate them from genuine websites.

Ahmad, a 22-year-old Kashmiri, is an IT graduate, who entered the crypto space during the pandemic last year. Despite being well aware of the online crypto fraud, he fell for a scam that was seemingly being promoted by Elon Musk. Ahmad lost a significant amount of money in the very first month of his entry into the crypto market. How did he deal with the loss? What did he do to recover from the shock? What advice does he have for new investors? Watch the video to find out?