Common Crypto Scams
Scammers use various methods to trick victims into making crypto investments. Here are the most common schemes:
Fake Wallets
Scammers create fraudulent websites and mobile apps that look just like legitimate crypto wallets or exchanges. They encourage users to sign up and deposit funds, promising high security and rewards. Once enough people transfer their crypto, the scammers shut down the platform and disappear with the money.
Phishing Scams
Phishing scams trick victims into revealing their login credentials or private keys. Scammers send fake emails, text messages, or social media alerts, pretending to be from a trusted crypto exchange or wallet provider. Once scammers gain access, they withdraw funds and lock victims out of their accounts.
Fake Celebrity Endorsements
Scammers create fake advertisements, videos, or social media posts using well-known figures like Elon Musk, Mark Cuban, or other influential personalities. They claim these celebrities are backing a new cryptocurrency, investment opportunity, or giveaway. In reality, these endorsements are completely fake.
Giveaway and Airdrop Scams
Scammers pretend to give away free cryptocurrency, asking victims to send a small amount first to "verify" their wallet. Once you send money, they take it and never send anything back.
Pump and Dump Schemes
In a pump-and-dump scam, fraudsters create hype around a new or obscure cryptocurrency to drive up its price. They use social media, forums, and paid influencers to attract investors. Once enough people buy the coin, the scammers sell off their holdings at the peak, causing the price to crash.
Stay Safe – Verify any cryptocurrency scam with official agencies and never share sensitive information with unknown sources.
