Vulnerabilities to Crypto Currency Scams and Online Persuasion Strategies

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Published in:International Conference on Cyber Warfare and Security (Mar 2025), p. 194
Main Author: Luoma-aho, Vilma
Other Authors: Botha, Johnny, Hautala, Miriam
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Academic Conferences International Limited
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MARC

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035 |a 3202190656 
045 2 |b d20250301  |b d20250331 
084 |a 142229  |2 nlm 
100 1 |a Luoma-aho, Vilma  |u School of Business and Economics, University of Jyvaskyla, Finland 
245 1 |a Vulnerabilities to Crypto Currency Scams and Online Persuasion Strategies 
260 |b Academic Conferences International Limited  |c Mar 2025 
513 |a Conference Proceedings 
520 3 |a As deepfakes and scams online become more common, many individuals, organizations and nation-states struggle to maintain trust and remain credible sources for their stakeholders. Increasingly algorithms shape the digital information landscape, choosing what content is displayed and deepening the individual silos of information seeking. Recently it has been suggested that the best efforts to combat misinformation are not to try to stop its spread but through understanding the vulnerabilities on which it lands in the individual receiving the false information. There is an urgent need to investigate the mechanisms and extent of deception in online environments, as little is known about these specific vulnerabilities that then cause individuals to become victims for online scams. In the digital environment, different vulnerabilities exist yet they result from siloed studies in specific contexts. This paper starts by categorizing the different levels on which digital communication may be vulnerable. Further, this research asks how these vulnerabilities are utilized and what persuasion tactics are at use when crypto scams are concerned. Building on the persuasion principles, this paper analyzes three recent highly successful online scams. The findings conclude that social proof and scarcity were most used influence mechanisms, suggesting that scam prevention needs to understanding the vulnerabilities on which these influence mechanisms build. 
653 |a Public opinion 
653 |a Digital currencies 
653 |a Algorithms 
653 |a Blockchain 
653 |a Hoaxes 
653 |a False information 
653 |a Collaboration 
653 |a Deepfake 
653 |a International finance 
653 |a Deception 
653 |a Internet 
653 |a Nation states 
653 |a Persuasion 
653 |a Scarcity 
653 |a Influence 
653 |a Victims 
653 |a Tactics 
653 |a Misinformation 
653 |a Information seeking behavior 
653 |a Information 
700 1 |a Botha, Johnny  |u Council for Scientific and Industrial Research, Pretoria, South Africa 
700 1 |a Hautala, Miriam  |u School of Business and Economics, University of Jyvaskyla, Finland 
773 0 |t International Conference on Cyber Warfare and Security  |g (Mar 2025), p. 194 
786 0 |d ProQuest  |t Political Science Database 
856 4 1 |3 Citation/Abstract  |u https://www.proquest.com/docview/3202190656/abstract/embedded/ZKJTFFSVAI7CB62C?source=fedsrch 
856 4 0 |3 Full Text  |u https://www.proquest.com/docview/3202190656/fulltext/embedded/ZKJTFFSVAI7CB62C?source=fedsrch 
856 4 0 |3 Full Text - PDF  |u https://www.proquest.com/docview/3202190656/fulltextPDF/embedded/ZKJTFFSVAI7CB62C?source=fedsrch