In order to identify fraudulent ETH brokers, you need to do a bit of research. You can do this by reading a white paper and finding websites that have been around for a while. Also, it’s a good idea to be wary of phony broker profiles that seem legitimate, but are actually just bot accounts. This is a sign that you’re dealing with a phony broker and should avoid them at all costs.

One way to spot Etherium scam brokers is to be wary of those on social media who ask you to join a mining pool. In many cases, these mining pools are not legitimate, and you’ll end up losing your crypto. It’s a good idea to educate yourself on how Ethereum works and how it works before joining a pool. In addition to that, it’s a good idea to be suspicious of any online broker who offers to pay you in ETH.

Be suspicious of newcomers to the group. A newcomer will usually share referral codes with friends and contacts to bring in more members, but they’re not investing in a legitimate business. Instead, the cycle will start over again and pay out the early investors for each new investor. In some cases, a member will put up videos and photos showing them holding large amounts of money and pretending to be a successful trader.