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Common Crypto Scams
Recognise and avoid the most prevalent scams: phishing, fake exchanges, rug pulls, and pump-and-dump schemes.
Common Crypto Scams
The crypto space attracts bad actors. Understanding common scam patterns is essential for protecting your assets.
Scam Types to Know
- Phishing: Fake websites mimicking legitimate exchanges to steal login credentials. Always verify URLs carefully.
- Fake Investment Platforms: Promise guaranteed returns or insider signals. Legitimate platforms never guarantee profits.
- Pig Butchering: Long-term social engineering to build trust before encouraging large deposits to fraudulent platforms.
- Rug Pulls: Project developers abandon a token after raising funds, leaving investors with worthless assets.
- Pump and Dump: Coordinated buying to inflate a token's price before insiders sell, crashing the price.
- Giveaway Scams: Impersonate celebrities or official channels, asking users to send crypto to receive more back.
Rule: If something promises guaranteed profit, it is a scam.
⚠ Disclaimer: This guide is for educational and informational purposes only. It does not constitute financial, investment, legal, or tax advice. Cryptocurrency markets are highly volatile. Always conduct your own research and consult qualified professionals before making financial decisions.