Short answer: if someone guarantees profits, asks you to pay in crypto, or won't let you withdraw without paying a fee first, it's a scam. These signs are the same in almost every crypto scam, wherever you live.
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Why crypto scams are so common
Crypto is fast, works across borders, and is almost impossible to reverse once it's sent. That makes it the favourite payment method of scammers. According to the FBI's 2025 internet crime report, Americans reported losing about $11.4 billion to crypto fraud in 2025, and crypto investment scams were the single biggest source of losses, at about $7.2 billion. People in every country are targeted the same way.
The 7 warning signs
- Guaranteed profits. Nobody can guarantee crypto returns. The US Federal Trade Commission puts it plainly: only scammers guarantee profits or big returns.
- A stranger, new friend, or online match brings up investing. Many scams start with a wrong-number text, a dating app, or a friendly message on social media. Weeks later, the conversation turns to a "great investment".
- You're asked to pay in crypto. Real businesses, banks, and government agencies don't demand crypto, and they never ask you to move money into crypto to "protect" it.
- Pressure to act fast. "The price is about to jump" or "this offer closes tonight" is designed to stop you thinking.
- A platform or app you've never heard of. Scammers build convincing trading websites and apps that show fake profits climbing every day.
- You can't withdraw. When you try to take money out, suddenly there's a tax, fee, or "verification charge" to pay first. That is the clearest sign of all.
- Celebrity promises or free crypto. Fake videos and ads using famous faces, or offers to double any crypto you send, are always scams.
The fake profits are the hook. Scammers often let you withdraw a small amount at the start, so you trust them and invest more. The bigger the balance on screen, the harder it is to walk away.
The most common crypto scams
- Investment scams. A "mentor", group, or trading coach shows you how to invest on a platform they control. Your balance grows on screen, but the money is already gone.
- Romance and "wrong number" scams. Someone builds a relationship with you over weeks, then introduces crypto investing as something you can do together.
- Impersonation scams. Callers pretending to be your bank, a crypto exchange, or even the police tell you your money is at risk and must be moved to a new wallet. Read Can the Police Call You About Your Crypto Wallet?
- Fake job offers. "Tasks" that pay small amounts at first, then ask you to deposit crypto to unlock bigger earnings.
- Giveaway and doubling scams. "Send 1 coin and get 2 back." You never get anything back.
Simple checks before you send any crypto
- Ask yourself who brought it up. If the idea came from someone you've only met online, stop there.
- Search the platform's name with the words "scam" and "reviews", and check whether it is registered with your country's financial regulator.
- Never move crypto to a wallet or app someone else set up for you, and never share your recovery phrase.
- Talk to someone you trust before you invest. Scammers work hard to keep you from doing this.
- Try a small withdrawal early. If you're blocked or asked to pay first, don't send another coin.
If you've already sent crypto to someone you now suspect, read What to Do After a Crypto Scam and act today. Speed matters.
Sources: FTC: What to know about cryptocurrency and scams · KTVU: Crypto fraud tops FBI annual crime report as Americans lose billions
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This is one trick out of dozens. The Scam-Proof Playbook covers crypto and investment scams, romance scams, fake job offers, and more, in plain language, with real examples.