Mar 17, 2025

Avoid these 8 Crypto Scams to Protect your Money

Kuhu Verma

Ponzi Schemes

Fraudsters promise guaranteed high returns but use money from new investors to pay older ones. When the flow of new investors stops, the scheme collapses

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Phishing Scam

Hackers send fake emails or messages pretending to be legitimate crypto platforms. Clicking on malicious links can result in stolen funds.

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Fake Crypto Wallet

Scammers create fraudulent platforms that look like legitimate crypto exchanges or wallets. Users deposit funds but later realize they can't withdraw their money.

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Rug Pull Scheme

Developers create hype around a new cryptocurrency, inflate its price, and then sell their holdings, causing the price to crash and leaving investors with worthless tokens.

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Impersonation Scam

Scammers pose as well-known figures like Elon Musk or popular exchanges, promising free crypto giveaways.

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Malware & Fake Apps

Some apps claim to be crypto wallets or trading platforms but contain malware designed to steal private keys and drain your funds

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SIM Swap Attack

Hackers trick mobile carriers into transferring your phone number to them, gaining access to two-factor authentication codes

Source: canva

NFT Scams

Scammers take advantage of new DeFi projects and NFTs luring investors with fake promises of high returns, only to disappear with their money.

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