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Vulnerabilities to Crypto Currency Scams and Online Persuasion Strategies

Year of publication

2025

Authors

Luoma-aho, Vilma; Botha, Johnny; Hautala, Miriam

Abstract

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.
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Organizations and authors

University of Jyväskylä

Hautala Miriam Orcid -palvelun logo

Luoma-aho Vilma Orcid -palvelun logo

Publication type

Publication format

Article

Parent publication type

Conference

Article type

Other article

Audience

Scientific

Peer-reviewed

Peer-Reviewed

MINEDU's publication type classification code

A4 Article in conference proceedings

Open access

Open access in the publisher’s service

Yes

Open access of publication channel

Fully open publication channel

Self-archived

Yes

Other information

Fields of science

Computer and information sciences

Keywords

[object Object],[object Object],[object Object],[object Object],[object Object]

Publication country

United Kingdom

Internationality of the publisher

International

Language

English

International co-publication

Yes

Co-publication with a company

No

DOI

10.34190/iccws.20.1.3254

The publication is included in the Ministry of Education and Culture’s Publication data collection

Yes