Common Crypto Scams (And How to Not Get Burned)
Crypto offers freedom, opportunity—and, unfortunately, a breeding ground for scams. With billions lost to fraud over the years, staying safe isn’t just smart—it’s essential.
Here’s a quick guide to the most common traps and how to avoid them.
1. Phishing Attacks
Scammers create fake websites, emails, or messages that look legit (like your wallet app or exchange). They trick you into sharing your private keys or login info.
Red flags:
- Suspicious links or pop-ups
- Urgent messages asking you to act fast
- Emails claiming “security issues”
How to stay safe:
- Bookmark official sites
- Never click random links
- Use 2FA and double-check URLs
2. Fake Giveaways
“If you send us 1 ETH, we’ll send you 2 back!” Sound too good to be true? That’s because it is.
These scams often appear on social media or spoofed celebrity accounts.
How to stay safe:
- Never send crypto expecting a return
- Ignore offers that require upfront payment
- Trust your gut—there’s no free money in crypto
3. Rug Pulls & Pump-and-Dumps
Some tokens are launched just to take your money. Devs hype it up, get people to buy, then vanish or dump their holdings.
Watch out for:
- Coins with no real use case
- Anonymous founders
- Hype-only marketing without a product
Do your own research (DYOR):
- Check community discussions, audits, and roadmap
- Don’t chase every new coin without understanding it
4. Fake Wallets & Apps
Some apps pretend to be real wallets or tools but steal your funds the moment you deposit.
How to stay safe:
- Download apps from official sources only
- Check reviews, spelling, and developer name
- Verify links from trusted communities
5. Tech Support Scams
Scammers pose as “customer support” and ask for access to your device, wallet info, or seed phrase.
Reminder:
- No legit support will ever ask for your private key
- Never share your seed phrase—ever
- If you’re unsure, ask in official forums or Reddit before acting
Final Safety Tips
- Use hardware wallets for large holdings
- Diversify: don’t put everything in one token
- Back up your recovery phrases offline
- Slow down: most mistakes happen when you rush
Empower Yourself
Crypto gives you control over your money—but it also makes you the gatekeeper. A little caution goes a long way.
By learning how scams work, you’re already ahead of the curve.
Coming up next:
The Future of Crypto: Trends, Challenges, and What’s Coming Next
Let’s look at where crypto is headed and what you should be watching in the months and years ahead.
