What it is:
Watch out for impersonators and romance scams! Bad actors will pose as support from a trusted provider, as an influencer, even as a friend or potential partner to lure you in. Web3’s anonymity can be a benefit, but it can also make it easier for people to impersonate others. And make no mistake, these scammers can be very believable. Before you know it, you will be trusting them and sending Bitcoin, or maybe even your private key or seed phrase. Once you send Bitcoin to someone, there is no way to reverse the transaction. They will have your money forever.

A more extreme form of impersonation involves blackmail and extortion. Usually the scammer will claim to have sensitive or compromising information on you, and you need to pay up otherwise they’ll send it to all your family and friends! This scare tactic is meant to rattle you so you’ll panic and pay the ransom without second thought. 

How to avoid it:

• Remember that real support teams will not ask for your seed phrase or private key, and that real support teams will not request payment for unknown services from you via chat or phone
• Pay attention to who you are communicating with. Before sending any information to someone online, try to verify their real identity
• Don’t fall into the trap of extortion. It can be scary to receive a threat online. Don’t try to resolve it right away. Take the time to think rationally and thoroughly. Scammers’ claims are unfounded; they are preying on your fear