Crypto scams: the most common ones and how to spot them

Cryptocurrencies have one feature scammers love: transactions cannot be reversed. There is no bank to cancel a payment. That is why knowing the most common tricks is the best protection there is.

The most frequent scams

1. Fake giveaways ("send 1, get 2 back")

Videos or profiles impersonating a celebrity or well-known company promise to double whatever you send to an address. It is always fake. Nobody gives away money in exchange for you sending yours first.

2. Relationship or romance investment scams

Someone contacts you "by mistake" or on a dating app, chats with you for weeks, and one day shows you how well they are doing on an investment platform. The platform is fake: the numbers go up on screen, but when you try to withdraw, "taxes" or "fees" appear that must be paid first. The more you pay, the more they ask.

3. Fake platforms and apps

Sites copying the look of real exchanges, apps outside the official stores, or paid search ads that lead to a clone. Always type the address yourself or use a saved bookmark.

4. Guaranteed returns

"Earn 2% a day", "a trading bot that never loses", "a fund with guaranteed profit". In finance, high guaranteed returns do not exist. If it pays at all, it is usually with money from later arrivals, until it collapses.

5. Pump and dump

Groups coordinate buying a small coin to inflate its price, attract new buyers with hype, then sell everything at once. The last ones in are left holding coins worth almost nothing.

6. Fake support and "recovery" services

After a scam, people appear offering to recover your money for an upfront fee. It is a second scam. The same goes for "tech support" messaging you on social media: real support does not reach out first or ask for your seed phrase.

Warning signs

• They rush you: "today only", "few spots left".
• They promise high, safe profits.
• They ask for your seed phrase, verification codes, or remote access to your computer.
• The contact started with an unexpected message.
• To withdraw your money, you must pay something first.

If it already happened

Stop sending money immediately, even if they promise it is "the last payment". Keep screenshots, addresses and conversations, and report it to the police in your country and to the exchange you sent from. Distrust anyone offering to recover the funds for an upfront fee.

The best defense stays the same: your keys are yours alone. Read the wallets and security guide.