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How to Spot and Avoid the Most Common Crypto Scams

10 min read·Beginner·

Pattern 1: The guaranteed-returns pitch

Any message promising fixed daily/weekly returns, 'doubling your crypto,' or risk-free profit is a scam. Legitimate markets don't guarantee returns — volatility and risk are the whole point.

Risk Ledger
  • If returns are 'guaranteed,' the scam is guaranteed.RISK

Pattern 2: Fake support and phishing

Scammers impersonate exchange support in social media replies, fake chat widgets, or search ads, then ask you to 'verify' your wallet by entering your seed phrase or connecting your wallet to a malicious site. Always navigate to support directly through the official app — never through a link someone sends you.

Pattern 3: Romance and 'pig butchering' scams

A new online relationship (often starting on dating apps or social media) gradually introduces 'crypto trading opportunities' on a fake platform that shows fabricated gains — until you try to withdraw. These scams can run for months before the ask for money begins.

Risk Ledger
  • Be especially cautious if someone you've never met in person starts steering conversations toward a trading platform.CAUTION

Pattern 4: Rug pulls and fake tokens

A new token launches with hype, a countdown, and an 'influencer' endorsement. Once enough people buy in, the creators drain the liquidity and disappear. Red flags include anonymous teams, locked-but-not-really liquidity, and pressure to buy before a deadline.

The five-second gut check

Before sending any crypto, ask: Did I initiate this contact, or did they? Is anyone creating urgency? Are they asking for my seed phrase, remote access, or an upfront 'fee' to unlock funds? Two or more 'yes' answers means stop.

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