Not financial, legal, or tax advice. This article describes common scam patterns for educational purposes and isn't a substitute for your own judgment or professional advice.
Crypto scams follow a small number of repeating patterns, such as fake support, fake giveaways, and promises of guaranteed returns, dressed up in different branding each time. Learning the pattern matters more than memorizing any one scam, because new versions appear constantly.
Common scam types
- Phishing. Fake emails, texts, or websites designed to capture your password or seed phrase.
- Fake giveaways. "Send 1 ETH, get 2 back," a classic that only ever takes money, never returns it.
- Impersonation. Scammers posing as exchange support, a celebrity, or even someone you know whose account was hacked.
- Rug pulls. A new token or project that gains hype, takes investor money, and disappears.
- Guaranteed-return schemes. Any offer promising fixed, risk-free profits from crypto "trading" or "staking."
Red flags to watch for
Urgency ("act in the next 10 minutes"), unsolicited contact from "support," requests for your seed phrase or a screen-share session, and returns that sound too good to be true are the common threads across almost every scam. Legitimate platforms never ask for your seed phrase, and no investment can guarantee profit.
How to verify before you act
Go directly to a company's official website or app rather than clicking a link you were sent. Check a project's history, team, and audits independently rather than trusting a single social media post. If someone claiming to be "support" contacts you first, assume it's a scam until proven otherwise. For help judging a specific token or project, see Evaluate a Crypto.
What to do if you're targeted
Stop responding, don't click any links, and don't send anything else. If you've already shared a seed phrase or private key, move any remaining funds to a new wallet immediately. See What to Do If Wallet Compromised for the full steps.