Cryptocurrency Scams

Protect your digital assets from fraudsters targeting crypto investors. Learn to identify and avoid cryptocurrency scams.

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What Are Cryptocurrency Scams?

Cryptocurrency scams are fraudulent schemes that target people interested in digital currencies like Bitcoin, Ethereum, and other cryptocurrencies. These scams exploit the relatively new and complex nature of cryptocurrency to deceive victims into sending money or revealing sensitive information.

Scammers often pose as legitimate investment platforms, celebrity endorsers, or technical support representatives to gain trust. They may promise unrealistic returns, create fake websites that mimic real exchanges, or use social engineering tactics to steal private keys and wallet information.

Common Types of Crypto Scams

Fake Exchanges
Fraudulent websites that look like legitimate cryptocurrency exchanges but steal your deposits and personal information.
Ponzi Schemes
Investment scams promising high returns that pay earlier investors with money from new investors until the scheme collapses.
Phishing Attacks
Fake emails, websites, or messages designed to steal your wallet credentials, private keys, or exchange login information.
Fake Celebrity Endorsements
Scams using fake celebrity images or deepfakes to promote fraudulent cryptocurrency investments or giveaways.

Warning Signs

Promises of guaranteed high returns with no risk
Pressure to invest quickly or miss out on opportunities
Requests for private keys or seed phrases
Unregistered investment platforms or exchanges
Celebrity endorsements that seem too good to be true
Requests to send crypto to "verify" your wallet
Fake customer support asking for sensitive information
Investment opportunities shared through social media DMs

How to Protect Yourself

Use Reputable Exchanges
Only use well-known, regulated cryptocurrency exchanges with strong security measures.
Secure Your Wallet
Never share your private keys or seed phrases. Use hardware wallets for large amounts.
Research Thoroughly
Investigate any investment opportunity. Check reviews, regulations, and team credentials.
Be Skeptical
If returns seem too good to be true, they probably are. Avoid get-rich-quick schemes.

Real Examples

The "Bitcoin Doubler" Scam
Scammers promise to double any Bitcoin sent to their address within 24 hours. They often use fake celebrity endorsements and create urgency by claiming limited-time offers. Victims send Bitcoin expecting it to be doubled but never receive anything back.
Fake Exchange Exit Scam
A fraudulent exchange operates normally for months, building trust and encouraging large deposits. Once they accumulate enough funds, the operators disappear with all user deposits, leaving investors with no way to recover their money.

If You've Been Scammed

1

Stop All Communication

Immediately cease contact with the scammers and don't send any more money.

2

Document Everything

Save all communications, transaction records, and website screenshots as evidence.

3

Report to Authorities

File reports with the FTC, FBI's IC3, and your local law enforcement.

4

Secure Your Accounts

Change passwords, enable 2FA, and move remaining funds to secure wallets.

Official Resources

Federal Trade Commission (FTC)
Report cryptocurrency scams and get recovery guidance.
Report to FTC
FBI Internet Crime Complaint Center
File complaints about internet-related cryptocurrency fraud.
File Complaint