Common Cryptocurrency Scams and How to Avoid Them

Scammers exploit urgency, celebrity impersonation, and technical confusion. No legitimate project guarantees profits or asks for your seed phrase.

Red flags

• Guaranteed returns or “risk-free” yield
• Pressure to act within minutes
• Unsolicited wallet connection requests
• Clone websites with slightly misspelled domains
• Romance or job-offer schemes pivoting to crypto transfers

Token and airdrop awareness

Fake airdrops may ask you to sign malicious transactions approving token spends. Research issuers on-chain and understand approval permissions before holding unfamiliar tokens.

If you are targeted

Stop sending funds, preserve evidence, report to local authorities and platforms, and warn others. Recovery is often impossible once assets leave your control.

Summary

Skepticism and slow verification beat fear of missing out.