Crypto Dice Investment Scams

Most Popular Scams

Exit scam

The most simple and common crypto dice investment scam is for the operator to shut down the site and take all investors’ and players’ balances.

This can happen on any site that holds customer balances but the presence of the house bank makes it more profitable, and therefore more common on crypto sites. The incentives are misguided because stealing a large house bank gives the operator more money in 1 day than they would make running the site honestly for a number of years.

Underpaying investors

Investors receive a % of the site’s profit, therefore all an operator has to do to underpay investors is under-report site profit. Afterward, they can keep the difference for themselves.

• Site operators can do this undetectably in several sneaky and dishonest ways.

A site could exclude some profitable bets from the site profit figure. To win with that account, a site operator could make a player account and use knowledge of the secret seed that determines bet results. This would result in a loss to the house bank which would only be a loss for the investors but a win for the site operator.

These scams could be done continuously on an ongoing basis. If the operator did this to make a site that would have a 1% profit and a 0.8% profit, people would assume the site has been slightly unlucky.

The best crypto gambling sites are not so desperate for liquidity that they would give a high % of their site’s profit to investors.
They can just run high-quality gambling services without house bank investment and keep 100% of the profit.

How to Protect Yourself?

To minimize the risks associated with crypto investments always do the following

• Conduct thorough research on the game or platform
• Search for independent evaluations and user reviews
• Use only reputable and well-known gaming platforms with positive track records
• Be cautious of any platform that lacks transparency or regulatory oversight
• Use secure wallets and do not share sensitive information
• Report Scams: If you encounter a scam, report it to local authorities or online platforms dedicated to handling fraud

Conclusion:

Being informed and cautious can help protect against potential losses and financial fraud. Perform thorough research before making any investments, and remember that if something seems too good to be true, it probably is.

Stay safe!