This study explores the persuasive strategies employed by scammers in cryptocurrency scams in Malaysia through the analysis of three scam articles. By applying Aristotle's persuasive modes (ethos, pathos, and logos), the research aims to uncover the linguistic manipulations used to deceive individuals into investing in fraudulent schemes. The findings highlight that scammers utilize ethos to establish credibility by associating their scams with renowned figures, while pathos appeals to emotions such as hope, excitement, and fear of missing out through personal success stories and emotional language. Logos is employed to present logical reasoning by emphasizing the safety, profitability, and advantages of the cryptocurrency platforms. These insights underscore the need for increased awareness and critical evaluation of cryptocurrency investments, as well as the development of countermeasures to protect individuals from scams. Future research directions may involve assessing the effectiveness of countermeasures and investigating evolving language techniques employed by scammers. By shedding light on persuasive strategies, this study aims to contribute to the prevention and detection of cryptocurrency scams, safeguarding potential victims from financial harm.
Chua, C. (2018). Exploring Initial Coin Offerings (ICOs) as a New Fundraising Mechanism in Malaysia. Malaysian Journal of Consumer and Family Economics, 21(1), 129-142.
Cooper, L. (1997). Aristotle on the forms and uses of rhetorical proof. Philosophy & Rhetoric, 30(2), 152-169. doi:10.1353/par.1997.0013
Hassan, H., Abdullah, M. M., & Zainuddin, Y. (2019). Persuasive Language Techniques Used in Scam Emails: A Case Study of Nigerian Scam Emails. GEMA Online® Journal of Language Studies, 19(3), 135–150.
Lee, A. H., Tan, B. W., & Ng, T. P. (2022). A Qualitative Study of the Perceptions and Experiences of Victims of Cryptocurrency Scams in Malaysia.
Lim, T., & Hara, Y. (2020). Analysis of Initial Coin Offerings in Malaysia: Regulations, Risks, and Challenges. In Handbook of Blockchain, Digital Finance, and Inclusion, Volume 1 (pp. 303-318). Academic Press.
Machado, T. L., & Santos, M. (2019). Cryptocurrency Fraud Detection Using NLP Techniques. Proceedings of the 12th International Conference on Security of Information and Networks, 1- 5.
Mohammed, R., Binsalleeh, H., & Faiz, S. (2018). The Persuasive Techniques in Nigerian 419 Scam Letters: A Sociolinguistics Perspective. Journal of Language and Communication, 5(1), 92–109.
Park, H., Rhee, K., & Lee, M. (2019). Identifying the Language Structure of Phishing Emails Targeting Cryptocurrency Users. In Proceedings of the 2019 ACM SIGSAC Conference on Computer and Communications Security (pp. 265-278). Association for Computing Machinery.
Securities Commission Malaysia. (2021). Annual Report 2020. Retrieved from https://www.sc.com.my/api/documentms/download.ashx?id=9d3e461f-7fff-47bf-84cf-7fefb4c42881
Singh, J., & Hara, Y. (2020). Language Analysis for Cryptocurrency Scam Detection. In Companion Proceedings of the Web Conference 2020 (pp. 1065-1071). Association for Computing Machinery.
Chua, C. (2018). Exploring Initial Coin Offerings (ICOs) as a New Fundraising Mechanism in Malaysia. Malaysian Journal of Consumer and Family Economics, 21(1), 129-142.
Cooper, L. (1997). Aristotle on the forms and uses of rhetorical proof. Philosophy & Rhetoric, 30(2), 152-169. doi:10.1353/par.1997.0013
Hassan, H., Abdullah, M. M., & Zainuddin, Y. (2019). Persuasive Language Techniques Used in Scam Emails: A Case Study of Nigerian Scam Emails. GEMA Online® Journal of Language Studies, 19(3), 135–150.
Lee, A. H., Tan, B. W., & Ng, T. P. (2022). A Qualitative Study of the Perceptions and Experiences of Victims of Cryptocurrency Scams in Malaysia.
Lim, T., & Hara, Y. (2020). Analysis of Initial Coin Offerings in Malaysia: Regulations, Risks, and Challenges. In Handbook of Blockchain, Digital Finance, and Inclusion, Volume 1 (pp. 303-318). Academic Press.
Machado, T. L., & Santos, M. (2019). Cryptocurrency Fraud Detection Using NLP Techniques. Proceedings of the 12th International Conference on Security of Information and Networks, 1- 5.
Mohammed, R., Binsalleeh, H., & Faiz, S. (2018). The Persuasive Techniques in Nigerian 419 Scam Letters: A Sociolinguistics Perspective. Journal of Language and Communication, 5(1), 92–109.
Park, H., Rhee, K., & Lee, M. (2019). Identifying the Language Structure of Phishing Emails Targeting Cryptocurrency Users. In Proceedings of the 2019 ACM SIGSAC Conference on Computer and Communications Security (pp. 265-278). Association for Computing Machinery.
Securities Commission Malaysia. (2021). Annual Report 2020. Retrieved from https://www.sc.com.my/api/documentms/download.ashx?id=9d3e461f-7fff-47bf-84cf-7fefb4c42881
Singh, J., & Hara, Y. (2020). Language Analysis for Cryptocurrency Scam Detection. In Companion Proceedings of the Web Conference 2020 (pp. 1065-1071). Association for Computing Machinery.
