Crypto Scams and Fraud
Most common crypto scams — giveaway, pig butchering, fake exchange, Ponzi.
The crypto space is full of scams — every year $1–5 billion is stolen from retail investors. Knowing the most common scams is basic self-protection.
Most common scams:
1. Giveaway scam • "Send 0.1 BTC, we return 0.2" • Never works. Ever. • Elon Musk, MrBeast deepfake videos
2. Pig Butchering (sha zhu pan) • Online romantic relationship → "investment opportunity" • Fake platform shows "profits" • When you try to withdraw → they demand "tax" or disappear • Organized criminal groups in Southeast Asia
3. Fake exchanges • Sites looking professional • Deposit goes in, withdrawal impossible
4. Pump and dump coordination • Telegram/Discord groups coordinating pump • Insiders bought before, selling to you
5. Fake NFT drop • "Exclusive" mint for famous collection • After mint, project disappears
6. Rug pull • Anonymous team, pulls large liquidity and disappears
Where to report: