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.
Show moreOrganizations and authors
Publication type
Publication format
Article
Parent publication type
Conference
Article type
Other article
Audience
ScientificPeer-reviewed
Peer-ReviewedMINEDU's publication type classification code
A4 Article in conference proceedingsPublication channel information
Parent publication name
Publisher
Pages
194-203
ISSN
ISBN
Publication forum
Publication forum level
1
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