Common scams to avoid

The most common crypto scams trick you into handing over your login details, seed phrase or coins, usually by pretending to be someone you trust or promising easy money. Real support staff never ask for your password, 2FA codes or seed phrase, so any request for them is a red flag.

Fake customer support

Scammers watch social media and forums for people complaining about a stuck withdrawal. They then reply or send a direct message posing as the exchange's support team, often with a convincing logo and name. They may ask you to "verify" your account by sharing login details, install remote-access software, or move funds to a "safe wallet". Only contact support through the official app or website you navigate to yourself.

Giveaway scams

A post or video claims a famous person or company will "double" any crypto you send. You send 1,000 USDT expecting 2,000 back, and receive nothing. No legitimate giveaway asks you to send money first.

Pump-and-dump schemes

Organisers hype a small, illiquid coin in group chats, urging members to buy at a set time. Early insiders buy cheaply beforehand, then sell into the rush of buyers.

Impersonation on Telegram and other apps

Fraudsters clone the names and photos of exchange staff, group admins or well-known traders, then message people privately. Common tricks include fake "account managers", investment schemes promising fixed daily returns, and links to look-alike websites that capture your login.

Warning signs

• Unsolicited messages, especially private ones offering help or opportunities.
• Pressure to act quickly or keep things secret.
• Promised or guaranteed returns.
• Requests for passwords, 2FA codes, seed phrases or remote access to your device.

Key takeaways

• Real support never asks for passwords, 2FA codes or seed phrases.
• Contact support only through official channels you open yourself.
• "Send crypto to receive more back" offers are always scams.
• Be wary of hype groups and private messages from supposed staff or admins.