KERALA LOTTERY RESULT Thursday 30-10-2025 LIVE: KARUNYA PLUS KN lottery is one of the 7 lucky draws held every week. Each Thursday at 3 PM, the Kerala Lottery “KARUNYA PLUS KN 595” lottery draw is conducted. Every lottery has an alphanumeric code to identify it, and the Kerala “KARUNYA PLUS KN” lottery code is “KN” because it includes the draw number as well as the code. The first prize winner of lucky draw will receive Bumper 1 Crore Rupees. Scroll down for the complete winners list of Kerala ‘KARUNYA PLUS KN 595’ lucky draw.
 
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Kerala Lottery Results Thursday 30-10-2025 LIVE: The Kerala Lottery Department, on behalf of the Keralan government, announces the “Karunya KN-595” Lucky Draw Result today Karunya KN-595, October 30, 2025. The draw will be held at Gorky Bhavan near Bakery Junction in Thiruvananthapuram. The Kerala Lottery Result 2025 for “Karunya KN-595” will feature 12 series, with changes in series possible each week. A total of 108 lakh tickets are available for purchase weekly. The ticket prices may vary. Check the Karunya KN-595 results right here to see if you’re the first-place winner of ₹1 Crore. Stay tuned to this website for the live update of Kerala Lottery Karunya KN-595 results today.

<h2>Kerala Lottery Result 30-10-2025 October:&nbsp;FULL LIST OF WINNING NUMBERS FOR KARUNYA PLUS KN-595 Draw</h2><div id = "v-zeenews-india-v1"></div>    <br><strong>LUCKY TICKET NUMBER FOR 1ST PRIZE OF RS 1 Crore IS:&nbsp;</strong><strong>PA 873206</strong><div><div class="recommended_widget"><div id="taboola-mid-article-thumbnails"></div></div></div><div classname="googlePopUp" id="googleCTA" style="background-color:#FFD1D1;height:46px; border-radius:4px">            <div classname="googlePreferredAd"  style="display:flex;padding:4px 20px;gap:20px;width:100%;justify-content:center">           <p style=" font-size:14px !important; font-weight:bold; color:#333333;">Add Zee News as a Preferred Source               <a             href="https://www.google.com/preferences/source?q=zeenews.india.com"             target="_blank"             style="margin-left: 20px;"             id="googleIconBtn">             <img               src="https://english.cdn.zeenews.com/static/public/updated_logos/googlePreferred.png"               alt=""               style="width:122px !important;"             />           </a>         </div>       </div>       <div id="trendingNow" class="mb-3"></div>    <br>Add Zee News as a Preferred Source               <a             href="https://www.google.com/preferences/source?q=zeenews.india.com"             target="_blank"             style="margin-left: 20px;"             id="googleIconBtn">             <img               src="https://english.cdn.zeenews.com/static/public/updated_logos/googlePreferred.png"               alt=""               style="width:122px !important;"             />           </a>         <br><strong>LUCKY TICKET NUMBER FOR 2ND PRIZE OF RS 30 LAKHS IS:&nbsp;</strong><strong>PD 627724</strong>    <br><strong>LUCKY TICKET NUMBERS FOR 3RD PRIZE OF RS 5 LAKHS ARE:&nbsp;</strong><strong>PE 309178</strong>    <br><strong>LUCKY TICKET NUMBERS FOR CONSOLATION PRIZE OF RS 5000 ARE:&nbsp;</strong><strong>0924&nbsp; 1651&nbsp; 2600&nbsp; 2644&nbsp; 2674&nbsp; 3040&nbsp; 3065&nbsp; 3119&nbsp; 3269&nbsp; 3624&nbsp; 3948&nbsp; 4219&nbsp; 4497&nbsp; 5565&nbsp; 5612&nbsp; 6025&nbsp; 7890&nbsp; 9007&nbsp; 9813</strong><br />  <br />  <strong>PB 873206<br />  PC 873206<br />  PD 873206<br />  PE 873206<br />  PF 873206<br />  PG 873206<br />  PH 873206<br />  PJ 873206<br />  PK 873206<br />  PL 873206<br />  PM 873206</strong>    <br><strong><em>(For The Tickets Ending with The Following Numbers below)</em></strong>    <br><strong>LUCKY TICKET NUMBERS FOR 4TH PRIZE OF RS 5,000 ARE:&nbsp;</strong><strong>1147&nbsp; 2487&nbsp; 3368&nbsp; 5638&nbsp; 6834&nbsp; 8091</strong>    <br><strong>LUCKY TICKET NUMBERS FOR 5TH PRIZE OF RS 2000 ARE:&nbsp;</strong><strong>1147&nbsp; 2487&nbsp; 3368&nbsp; 5638&nbsp; 6834&nbsp; 8091</strong>    <br><strong>LUCKY TICKET NUMBERS FOR 6TH PRIZE OF RS 1000 ARE:&nbsp;</strong><strong>0282&nbsp; 0463&nbsp; 0482&nbsp; 1256&nbsp; 1371&nbsp; 2238&nbsp; 2301&nbsp; 3397&nbsp; 3640&nbsp; 4157&nbsp; 4348&nbsp; 5238&nbsp; 5890&nbsp; 6192&nbsp; 7098&nbsp; 7460&nbsp; 7699&nbsp; 7844&nbsp; 7927&nbsp; 8123&nbsp; 8161&nbsp; 8191&nbsp; 8400&nbsp; 8746&nbsp; 9547</strong>    <br><strong>LUCKY TICKET NUMBERS FOR 7TH PRIZE OF RS 500 ARE:&nbsp;</strong><strong>0052&nbsp; 0209&nbsp; 0301&nbsp; 0305&nbsp; 0311&nbsp; 0703&nbsp; 1099&nbsp; 1209&nbsp; 1235&nbsp; 1589&nbsp; 1886&nbsp; 1894&nbsp; 1977&nbsp; 2104&nbsp; 2253&nbsp; 2263&nbsp; 2626&nbsp; 2627&nbsp; 2889&nbsp; 3083&nbsp; 3276&nbsp; 3367&nbsp; 3408&nbsp; 3436&nbsp; 3502&nbsp; 3558&nbsp; 3561&nbsp; 3653&nbsp; 3827&nbsp; 3919&nbsp; 3981&nbsp; 4045&nbsp; 4094&nbsp; 4211&nbsp; 4213&nbsp; 4216&nbsp; 4267&nbsp; 4392&nbsp; 4407&nbsp; 4650&nbsp; 4747&nbsp; 4830&nbsp; 5241&nbsp; 5395&nbsp; 5641&nbsp; 5728&nbsp; 5993&nbsp; 6295&nbsp; 6357&nbsp; 6390&nbsp; 6461&nbsp; 6531&nbsp; 6895&nbsp; 6963&nbsp; 7047&nbsp; 7114&nbsp; 7221&nbsp; 7477&nbsp; 7576&nbsp; 7723&nbsp; 7736&nbsp; 7756&nbsp; 7851&nbsp; 8097&nbsp; 8630&nbsp; 8796&nbsp; 8823&nbsp; 9106&nbsp; 9137&nbsp; 9356&nbsp; 9428&nbsp; 9439&nbsp; 9504&nbsp; 9514&nbsp; 9808&nbsp; 9828</strong>    <br><strong>LUCKY TICKET NUMBERS FOR 8TH PRIZE OF RS 200 ARE:&nbsp;</strong><strong>0104&nbsp; 0117&nbsp; 0157&nbsp; 0217&nbsp; 0246&nbsp; 0291&nbsp; 0438&nbsp; 0569&nbsp; 0982&nbsp; 1223&nbsp; 1311&nbsp; 1461&nbsp; 1524&nbsp; 1540&nbsp; 1762&nbsp; 1847&nbsp; 1874&nbsp; 2191&nbsp; 2291&nbsp; 2323&nbsp; 2438&nbsp; 2688&nbsp; 2721&nbsp; 2837&nbsp; 2842&nbsp; 2848&nbsp; 2908&nbsp; 2928&nbsp; 2956&nbsp; 3148&nbsp; 3279&nbsp; 3559&nbsp; 3643&nbsp; 3649&nbsp; 3706&nbsp; 4041&nbsp; 4336&nbsp; 4625&nbsp; 4698&nbsp; 4834&nbsp; 4988&nbsp; 5310&nbsp; 5403&nbsp; 5794&nbsp; 6120&nbsp; 6208&nbsp; 6328&nbsp; 6464&nbsp; 6492&nbsp; 6662&nbsp; 6929&nbsp; 6958&nbsp; 7017&nbsp; 7035&nbsp; 7058&nbsp; 7228&nbsp; 7447&nbsp; 7483&nbsp; 7502&nbsp; 7555&nbsp; 7796&nbsp; 8195&nbsp; 8330&nbsp; 8332&nbsp; 8362&nbsp; 8394&nbsp; 8452&nbsp; 8517&nbsp; 8522&nbsp; 8708&nbsp; 8723&nbsp; 8777&nbsp; 8801&nbsp; 9101&nbsp; 9173&nbsp; 9307&nbsp; 9566&nbsp; 9577&nbsp; 9593&nbsp; 9596&nbsp; 9668&nbsp; 9705&nbsp; 9811&nbsp; 9910</strong>    <br><strong>LUCKY TICKET NUMBERS FOR 9TH PRIZE OF RS 100 ARE:&nbsp;</strong><strong>0000&nbsp; 0001&nbsp; 0092&nbsp; 0102&nbsp; 0107&nbsp; 0119&nbsp; 0134&nbsp; 0160&nbsp; 0166&nbsp; 0320&nbsp; 0364&nbsp; 0536&nbsp; 0596&nbsp; 0632&nbsp; 0787&nbsp; 0856&nbsp; 0863&nbsp; 1174&nbsp; 1176&nbsp; 1307&nbsp; 1357&nbsp; 1603&nbsp; 1630&nbsp; 1673&nbsp; 1696&nbsp; 1700&nbsp; 1771&nbsp; 1772&nbsp; 1804&nbsp; 1968&nbsp; 2018&nbsp; 2027&nbsp; 2184&nbsp; 2201&nbsp; 2218&nbsp; 2239&nbsp; 2328&nbsp; 2341&nbsp; 2442&nbsp; 2499&nbsp; 2530&nbsp; 2635&nbsp; 2739&nbsp; 2787&nbsp; 2982&nbsp; 3042&nbsp; 3070&nbsp; 3092&nbsp; 3159&nbsp; 3308&nbsp; 3468&nbsp; 3469&nbsp; 3670&nbsp; 3732&nbsp; 3755&nbsp; 3783&nbsp; 3786&nbsp; 3831&nbsp; 3851&nbsp; 3863&nbsp; 3885&nbsp; 3979&nbsp; 4032&nbsp; 4035&nbsp; 4053&nbsp; 4125&nbsp; 4162&nbsp; 4224&nbsp; 4266&nbsp; 4280&nbsp; 4292&nbsp; 4504&nbsp; 4601&nbsp; 4655&nbsp; 4661&nbsp; 4691&nbsp; 4706&nbsp; 4741&nbsp; 4840&nbsp; 4921&nbsp; 5430&nbsp; 5519&nbsp; 5542&nbsp; 5628&nbsp; 5766&nbsp; 5889&nbsp; 5931&nbsp; 6090&nbsp; 6112&nbsp; 6175&nbsp; 6204&nbsp; 6268&nbsp; 6282&nbsp; 6306&nbsp; 6340&nbsp; 6345&nbsp; 6377&nbsp; 6420&nbsp; 6430&nbsp; 6469&nbsp; 6532&nbsp; 6537&nbsp; 6704&nbsp; 6880&nbsp; 6901&nbsp; 7012&nbsp; 7034&nbsp; 7106&nbsp; 7134&nbsp; 7294&nbsp; 7498&nbsp; 7538&nbsp; 7590&nbsp; 7663&nbsp; 7700&nbsp; 7748&nbsp; 7770&nbsp; 7823&nbsp; 7869&nbsp; 7887&nbsp; 7941&nbsp; 7967&nbsp; 8094&nbsp; 8104&nbsp; 8111&nbsp; 8174&nbsp; 8289&nbsp; 8307&nbsp; 8336&nbsp; 8345&nbsp; 8364&nbsp; 8420&nbsp; 8477&nbsp; 8527&nbsp; 8578&nbsp; 8639&nbsp; 8660&nbsp; 8739&nbsp; 8742&nbsp; 8821&nbsp; 8850&nbsp; 8968&nbsp; 8977&nbsp; 9002&nbsp; 9097&nbsp; 9158&nbsp; 9167&nbsp; 9182&nbsp; 9354&nbsp; 9525&nbsp; 9607&nbsp; 9629&nbsp; 9867&nbsp; 9879&nbsp; 9897&nbsp; 9984</strong>    <h2><strong>KERALA LOTTERY RESULT TODAY 30-10-2025 October: KARUNYA PLUS KN-595 LOTTERY PRIZE DETAILS</strong></h2>    <br><strong>1st Prize: Rs 1 Crore<br />  2nd Prize: Rs. 10 lakhs<br />  3rd Prize: Rs. 1 Lakh<br />  4th Prize: Rs. 5,000<br />  5th Prize: Rs. 1,000<br />  6th Prize: Rs. 500<br />  7th Prize: Rs. 100<br />  Consolation Prize: Rs. 8,000</strong>    <br><strong>(NOTE: Lottery can be addictive and should be played responsibly. The data provided on this page is for informational purposes only and should not be construed as advice or encouragement. Zee News does not promote lottery in anyway.)</strong>    <h2><strong><span style="color:#FF0000;">Stay Tuned To Zee News For Live And Latest Updates On Kerala Lottery Result 2025</span></strong></h2><br>0000  0001  0092  0102  0107  0119  0134  0160  0166  0320  0364  0536  0596  0632  0787  0856  0863  1174  1176  1307  1357  1603  1630  1673  1696  1700  1771  1772  1804  1968  2018  2027  2184  2201  2218  2239  2328  2341  2442  2499  2530  2635  2739  2787  2982  3042  3070  3092  3159  3308  3468  3469  3670  3732  3755  3783  3786  3831  3851  3863  3885  3979  4032  4035  4053  4125  4162  4224  4266  4280  4292  4504  4601  4655  4661  4691  4706  4741  4840  4921  5430  5519  5542  5628  5766  5889  5931  6090  6112  6175  6204  6268  6282  6306  6340  6345  6377  6420  6430  6469  6532  6537  6704  6880  6901  7012  7034  7106  7134  7294  7498  7538  7590  7663  7700  7748  7770  7823  7869  7887  7941  7967  8094  8104  8111  8174  8289  8307  8336  8345  8364  8420  8477  8527  8578  8639  8660  8739  8742  8821  8850  8968  8977  9002  9097  9158  9167  9182  9354  9525  9607  9629  9867  9879  9897  9984<br />  <br>0104  0117  0157  0217  0246  0291  0438  0569  0982  1223  1311  1461  1524  1540  1762  1847  1874  2191  2291  2323  2438  2688  2721  2837  2842  2848  2908  2928  2956  3148  3279  3559  3643  3649  3706  4041  4336  4625  4698  4834  4988  5310  5403  5794  6120  6208  6328  6464  6492  6662  6929  6958  7017  7035  7058  7228  7447  7483  7502  7555  7796  8195  8330  8332  8362  8394  8452  8517  8522  8708  8723  8777  8801  9101  9173  9307  9566  9577  9593  9596  9668  9705  9811  9910<br />  <br> <br>0052  0209  0301  0305  0311  0703  1099  1209  1235  1589  1886  1894  1977  2104  2253  2263  2626  2627  2889  3083  3276  3367  3408  3436  3502  3558  3561  3653  3827  3919  3981  4045  4094  4211  4213  4216  4267  4392  4407  4650  4747  4830  5241  5395  5641  5728  5993  6295  6357  6390  6461  6531  6895  6963  7047  7114  7221  7477  7576  7723  7736  7756  7851  8097  8630  8796  8823  9106  9137  9356  9428  9439  9504  9514  9808  9828<br />  <br>0282  0463  0482  1256  1371  2238  2301  3397  3640  4157  4348  5238  5890  6192  7098  7460  7699  7844  7927  8123  8161  8191  8400  8746  9547<br />  <br> <br>1147  2487  3368  5638  6834  8091<br />  <br>0924  1651  2600  2644  2674  3040  3065  3119  3269  3624  3948  4219  4497  5565  5612  6025  7890  9007  9813<br />  <br>PE 309178<br>PD 627724<br>PA 873206<br />  <br>The prize winners are advised to verify the winning numbers with the results published in the Kerala Government Gazette and surrender the winning tickets within 30 days.<br>A ticket with multiple security features can prevent claims if damaged. So keep the ticket safe. Those who won the prize less than Rs.5000 should approach any lottery shop in Kerala with the ticket to collect the amount. If the prize is more than 5000 then the ticket and identity documents should be brought to any bank or government lottery office.<br>Stay tuned for live updates on the Kerala Lottery Result for October 30, 2025. It's crucial to note that online purchasing of Kerala lottery tickets is prohibited, carrying potential legal consequences. Engaging in such practices may lead to penalties imposed by legal authorities, as the state government strictly prohibits online selling and purchasing of lottery tickets.<br>The Kerala Lottery Result for Karunya Plus KN-595 is set to be drawn today. The public can view the Winning Number post at 2.55 pm during the live broadcast of Kerala Lottery Today. The announcement for the Kerala Lotteries Result today, dated 16 October 2025, is expected to follow shortly.<br>Stay informed on all the <a href="/">latest news</a>, real-time <a href="/"> breaking news</a> updates, and follow all the important headlines in<a href="/india"> india news</a> and<a href="/world">world News</a> on Zee News.<br>Thank you<br><br><br><a href="https://news.google.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?oc=5">source</a>

Written by
Kamina Bashir
Edited by
Harsh Notariya
Pi Network’s startup fund, Pi Network Ventures, has made its first investment in OpenMind, an artificial intelligence (AI) robotics firm.
The milestone comes amid positive momentum for Pi Coin, which is showing signs of renewed strength. The altcoin has surged 29% over the past week, breaking its months-long bearish trend.
BeInCrypto reported that Pi Network launched its $100 million Ventures initiative in May. At the time, the Pi Core Team explained that the fund aims to back startups and companies that can strengthen the Pi ecosystem by enhancing the utility and real-world adoption of the Pi Coin.
Now, Pi Network Ventures has finally announced its first strategic investment in OpenMind, a company developing open-source infrastructure for autonomous robots.
“Pi Network Ventures…has been looking for projects that turn blockchain infrastructure into something useful and tangible. The company’s long-term goal is to bring more of the world’s production, transactions, and intelligence onto its decentralized network – not as a speculative exercise, but as a real utility. Their partnership with our team at OpenMind fits that vision,” OpenMind stated.
The collaboration between Pi Network Ventures and OpenMind also saw a proof-of-concept experiment designed to test whether Pi’s global infrastructure could handle real AI workloads.
In this pilot, volunteer Pi Node operators ran OpenMind’s image recognition models directly on their devices, effectively transforming the Pi Network into a decentralized AI cluster. The experiment demonstrated that Pi’s infrastructure could handle meaningful AI workloads — a first glimpse of what the partners call a “peer-powered AI grid.”
“The experiment showed that Pi’s 350,000-plus active nodes could handle meaningful AI workloads, allowing Node operators to earn Pi for providing computational resources beyond securing the network,” the blog read.
Thus, this investment marks a milestone as Pi Network seeks practical applications for its network. By prioritizing computational sharing in emerging technologies over speculation, Pi stands out among blockchain projects with limited use cases.
Besides this, the Pi Team has also integrated AI into the core network. This month, Pi Network’s automated, AI-powered KYC process allowed more than 3.36 million accounts gain full verification. Users previously faced delays due to KYC bottlenecks, but the new AI system is accelerating progress while bolstering security protocols.
Notably, the overall ecosystem progress has impacted Pi Coin’s price positively. BeInCrypto Markets data showed that PI has continued to rally, rising 29% over the past week. These gains have also placed PI among the top weekly gainers on CoinGecko.
Earlier this week, the altcoin even hit a 5-week high before experiencing a strong correction. At the time of writing, Pi Coin was trading at $0.25, down 10.56% over the past day.
Meanwhile, Valour’s Pi exchange-traded product has also experienced modest growth in volume in late October, signaling a revival of investor interest.
Therefore, despite short-term challenges, Pi’s recent price momentum and expanding real-world utility point to a cautiously optimistic outlook. The key question now is whether this PI can maintain its upward trajectory or return to another downturn.
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Crypto: Germany Benefits from Tink and Coinbase Pairing  FinTech Magazine
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Flare’s latest move to lock 4 million XRP into escrow adds to its growing control of network supply.
Around 4 million XRP (XRP-USD), worth more than $10.5 million, was locked into escrow this week. The move takes some tokens out of circulation and has traders wondering if it could lift XRP’s price in the days ahead. Blockchain tracker Whale Alert flagged the transfer on Wednesday, linking it to the Flare Core Vault, which a key infrastructure wallet already holding more than 1.57 billion XRP.

The move adds to a broader pattern of consolidation by Flare, which uses its vaults to manage collateral and governance across its ecosystem. It’s the latest example of how large institutional holders are quietly shaping the XRP Ledger’s supply dynamics and why traders are paying closer attention to escrow activity alongside exchange flows.
Flare’s growing reserves underline how much XRP supply sits outside normal trading channels. More than 35 billion XRP, roughly one-third of total supply, remains locked in various escrows across the network. While this new 4 million addition is small in comparison, every reduction in circulating tokens matters for liquidity and sentiment.
For XRP, which has been holding near $2.55 in recent sessions, supply tightness can act as a subtle stabilizer in volatile conditions. Analysts note that when major holders restrict available supply, it can cushion short-term downside pressure, particularly when trading volumes are thin.
The move also comes just days after Ripple CTO David Schwartz highlighted that XRP escrows are more flexible than many assume. He said the rights to locked tokens can be “cloned, reassigned, or sold,” suggesting that even escrowed XRP can shift between entities and serve as financial instruments in their own right.
This nuance is important. It means “locked” doesn’t always mean “frozen” and that XRP supply can still move in meaningful ways beneath the surface. For investors, this highlights the complexity of tracking true liquidity across the network, where both Ripple and ecosystem partners like Flare play major roles in how supply is managed.
At face value, the 4 million XRP lock-up may not shake markets overnight, but it highlights a deeper reality that supply management remains central to XRP’s long-term story. Each new escrow event reveals how much control still resides with large entities shaping liquidity conditions from behind the scenes.
For now, XRP’s price remains stable around $2.55, but the accumulation trend, particularly by entities tied to Ripple’s ecosystem, could amplify future volatility if those tokens are later reintroduced or reassigned. Traders watching the ledger’s movements see these escrow shifts as early signals of potential pressure points ahead.
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How low can BTC go?  FXStreet
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Cryptocurrency fraud is costing B.C. residents significant amounts of money, and police are warning people to protect themselves against this type of fraud.
Cryptocurrency is digital money that was created as an alternative to government-issued currency. All cryptocurrencies use blockchain — a digital database where transactions are cryptographically stored — to operate a ledger, storing and sharing data across a large global network of computer servers. The best-known cryptocurrency is Bitcoin.
B.C. RCMP have received multiple reports of individuals losing large sums of money after investing in fraudulent cryptocurrency apps. Scammers typically reach out through text messages, emails, or social media, claiming they’ve made thousands of dollars through cryptocurrency investments. They then convince victims to deposit money into a fake investment app.
Once the money is deposited, the app displays fictitious profits to create the illusion of a successful investment. The scammers use this to pressure victims into investing even more.
When victims grow suspicious and attempt to withdraw their funds, the scammers demand a large “processing fee”. Fearing the loss of their investment, many victims pay the “processing fee,” but ultimately end up losing both the fee and their investment.
A second layer of fraud is sometimes added after the initial scam has been discovered. The fraudsters will assume a new identity and reach out to the victim, claiming to be from law enforcement or saying that they are from a “recovery service,” and that they can get the money back, but only after payment of a “recovery fee,” which is another scam. Legitimate law enforcement officers will never ask for a payment in order to help you recover money or goods.
“These scammers rely on high-pressure sales tactics to create a false sense of urgency and fear of missing out, pushing people to make impulsive decisions without thinking them through,” says Acting Sergeant George Han of the Coquitlam RCMP. “Do not rush. Call someone and discuss the investment before making any decisions.”
The lack of regulation and oversight of cryptocurrencies puts investors at risk. It is also a relatively new, and somewhat complex, market, meaning that many investors are unaware of potential dangers and risks. Fraudsters will often try to dismiss these dangers and risks, claiming that investors don’t need to understand the crypto market in order to make money.
There are ways to safeguard yourself against cryptocurrency frauds:
– Be cautious of unexpected calls, emails, or messages.
– Never send money or cryptocurrency to someone you don’t know.
– Don’t give anyone remote access to your computer.
– Avoid downloading unknown software or apps.
– Be wary of investments that offer unusually high returns in a short amount of a time. Remember: If it sounds too good to be true, it probably is.
If you think you have been scammed, immediately stop all communication with the scammer, and do not send them any more money. Alert your financial institution, and report the issue to the Canadian Anti-Fraud Centre or call 1-888-495-8501. Also contact your local police of jurisdiction.
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