How to recognise common crypto scams

Crypto transfers are fast and usually irreversible, which makes them attractive to fraudsters. The stories they tell change constantly, but most scams lean on a small set of recurring patterns. Recognising those patterns is more useful than memorising any single example.

Warning signs that apply almost everywhere

• Guaranteed or unusually high returns, especially anything described as risk-free.
• Pressure to act right now, before you have time to think or ask someone you trust.
• Requests to keep the opportunity secret from family, friends or your bank.
• Anyone asking for your password, a 2FA code, a recovery phrase or a private key.
• Payment demanded in crypto or gift cards for something that would normally be paid another way.

Impersonation

Scammers pose as exchange support, government agencies, well-known companies or public figures. They often make first contact through social media, messaging apps or email, and their profiles and websites can look convincing. Genuine support teams do not ask you to move funds to a so-called safe wallet, install remote-access software, or read out verification codes.

Slow-burn investment scams

Some scams take weeks. A stranger builds a friendship or romance, then introduces a trading platform or investment opportunity. Small early withdrawals may even work, to build trust. Once larger amounts go in, withdrawals suddenly require taxes or unlock fees, and the money never comes back.

Giveaways and doubling offers

An offer to send back twice whatever you send is never real, whatever name or face is attached to it. Videos can be edited and accounts can be hijacked or imitated.

Fake apps, sites and tokens

• Look-alike websites and apps built to capture your login details.
• Search adverts that lead to copies of real services.
• Tokens that borrow a well-known name but are a different contract. Confirm contract addresses from an official source.
• Wallet connection prompts that ask for broad token approvals you do not understand.

P2P and marketplace tricks

In peer-to-peer trades, watch for edited payment screenshots, payments from accounts whose name does not match the buyer, and requests to continue the conversation off the platform. Only release crypto once the money is visibly in your own account.

If you think you have been targeted

1. 1Stop sending funds and stop communicating with the other party.
2. 2Change your passwords and secure your email and 2FA.
3. 3Contact the exchange through its official website, with any transaction hashes and details you have.
4. 4Report the incident to your local authorities.