Test Your Knowledge
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Question 1:
What is a watch-only wallet?
A. A wallet that allows users to make transactions but not view balances.
B. A wallet designed to monitor the balance and transactions of a cryptocurrency address without having the private keys to make transactions.
C. A wallet that allows users to access funds and make transactions remotely.
Question 2:
How do scammers typically present a watch wallet scam?
A. They create fake investment platforms that offer high returns.
B. They provide a watch-only wallet address that appears to hold a substantial amount of cryptocurrency.
C. They ask victims to download a fake wallet app that steals funds.
Question 3:
What is the primary tactic used by scammers in a watch wallet scam?
A. They promise to send funds back after a small initial investment.
B. They claim that sending funds to a watch-only wallet will unlock or activate more cryptocurrency.
C. They offer victims the chance to buy a wallet with high balances at a discounted price.