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With innovation, comes another level of cybercrimes and internet fraud.

The Internet is wide and limitless like the cosmos. And the world is filled with sheep and wolves. The world keeps getting smarter and smarter each time the clock ticks. You don’t want to be the not-so-smart one if you’re still young and desperate to make it big in the Information Age.

On TechTouch, we cover the tech trends on the continent. If you have been following our articles, then you must be read this line:

“There’s money in tech.”

And now, by that I also mean there’s money in crypto. But not everyone is actually making the money. The sad truth is a good number are losing their hard earned money to unrealistic projects out there while some are being scammed right now as I write.

In a talk with Maximilian Varela—a budding music artist in California, we learnt how he was scammed of $2500 and later hospitalized due to the effect it had on him.

According to Varela, it all started when he rented out a studio for $400 a month.

“These people followed me on instagram and made me buy a coin that they showed me returns for, in screenshots but little did I know it was a scheme because they were the ones getting rich off it.”

Varela needed more money to set things up and build a career making music. It’s tempting. Isn’t it?

“They would send you screenshots of your ‘own money’ and never show their face on camera.”

Varela later got pissed and let it out on them.

“I talked to their boss and he basically told me that he got rich off of desperate people like me and that I will never get my money back.”

“My family put me in the hospital because of how stressed out I was, I ended up back at square one and stayed in the hospital for two weeks and then i got dropped from school for not being able to catch up on my assignments.”

Anybody can be a victim even when you think you’re the smartest person in the room.

But here are some tips to get really smart about it and avoid being scammed:

  • There’s countless project out there. Do your research first. Prevention is always better than cure

  • If at all you dived in and want that free extra money, use a burner wallet

  • Avoid sending your personal information and sensitive data without establishing trust

  • If having virtual video call meeting for whatsoever, demand he or she appears on camera. It’s your hard earned money you’re putting on the line

  • Ask questions and fact check them after the meeting

  • Trust your instincts. If it feels shady, it’s shady

 

Thank you for reading this piece on TechTouch. Please share today’s edition with your network on WhatsApp, Telegram and other platforms, and feel free to leave comments or any suggestions. We’ll like to learn more from you as well.

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By Elijah Christopher

 

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Elijah Christopher is a lifelong creative artist and a journalist for “A New Touch Of Africa”, an American news media and magazine focusing on Africa-related issues, fashion, new technologies and innovations. He has contributed to several published works, most notably a collaborative poem celebrating Scottish poet Edwin Morgan and in 2021 was the winner of the DIAJ Award for his photo-artistry.

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