Scam library
How common crypto scams work, how to spot them, and how to protect yourself. This guidance is awaiting editor review.
Romance and investment scams
A new online friend slowly steers you into a fake investment platform.
It often starts with a wrong-number text, a dating match or a social media message. The scammer builds trust over weeks, then introduces an investment site that shows impressive profits. Small withdrawals may work at first, which makes it feel real. Larger withdrawals are then blocked until you pay a fee or tax.
Warning signs
- Someone you’ve never met in person brings up crypto investing
- They coach you through buying crypto and sending it to a platform
- Profits look steady and unusually high
- You must pay more before you can withdraw
How to protect yourself
Don’t invest through a platform recommended by someone you met online. Search independently for regulator warnings about the platform, and stop paying if withdrawals are blocked.
Address poisoning
A lookalike address in your history hopes you will copy it by mistake.
Scammers make an address that matches the start and end of one you use, then get it into your transaction history. If you copy it from there, your funds go to them. They don’t need your seed phrase or private key.
Warning signs
- Tiny, zero-value or strange token transfers you didn’t expect
- A familiar-looking address in your history that you don’t remember using
How to protect yourself
Don’t copy addresses from your history. Use a saved address book, and check the whole address before you approve.
Wallet drainers and fake sites
A convincing site asks you to connect and sign, then empties your wallet.
Fake airdrops, mints and support pages spread through ads, hacked accounts and search results. Connecting isn’t always the danger: signing a malicious approval or message can give someone permission to move your assets.
Warning signs
- Urgency, such as a claim closing in minutes
- A link from a direct message, a reply or an ad
- A signature request you don’t understand
How to protect yourself
Reach sites by your own saved bookmark, keep a separate wallet for risky activity, and don’t sign what you can’t read. Review old approvals regularly.
Fake support and impersonators
Someone posing as your exchange, wallet maker or the police pressures you to act.
They may know your name or account details from a data breach. They warn that your funds are at risk, then ask for a code or seed phrase, or tell you to move funds to a safe wallet that they control.
Warning signs
- An unexpected call, text or direct message about your account
- Pressure to act immediately and keep it secret
- Any request for a seed phrase, private key or sign-in code
How to protect yourself
End the conversation, then contact the company through its official site or app. No genuine support team needs your seed phrase.
Recovery scams
After a loss, a stranger promises to get your crypto back for a fee.
Scammers look for people discussing losses online, or buy lists of past victims. They claim special tools or contacts, ask for an upfront payment or wallet access, and may then ask for more.
Warning signs
- They contacted you first
- A guarantee that funds can be recovered
- An upfront fee, or a request for wallet access
How to protect yourself
Report the original loss to the authorities, and don’t pay a stranger to recover it. Any request for your seed phrase is a scam.
Crypto ATM scams
A caller tells you to feed cash into a crypto ATM to fix an urgent problem.
Callers may pose as the government, your bank, tech support or police. They say your money is in danger, then guide you to a crypto ATM and give you a QR code. The cash becomes crypto in the scammer’s wallet.
Warning signs
- Anyone in authority directing you to a crypto ATM
- Being told to stay on the phone during the deposit
- Being told not to talk to family or your bank
How to protect yourself
Hang up and call a trusted number yourself. Talk to a family member or your bank before you move any money.