Cryptocurrency Scams
Cryptocurrency Investment Scam
Fake crypto trading platforms, signal groups, and investment opportunities that steal your cryptocurrency deposits.
Reported Losses
$2.5 billion in crypto investment fraud (FTC 2024)
Primary Targets
Crypto curious investors, new crypto users
Last Updated
2026-01-06
Also Known As
Bitcoin Scam
How Scammers Contact You
How This Scam Works
Scammers create fake cryptocurrency investment opportunities:
**Fake Trading Platforms:** - Professional-looking website - Shows fake gains on your "investment" - Allows small withdrawals initially to build trust - Blocks large withdrawals or demands fees/taxes
**Signal Groups:** - Telegram/Discord groups promising profitable trading signals - Run by fake "expert traders" - Early signals work to build trust - Eventually pump-and-dump or rug pull
**Celebrity Endorsements:** - Fake news articles about celebrity crypto investments - Deepfake videos of Elon Musk, Jeff Bezos, etc. - Links to fraudulent investment platforms
Red Flags to Watch For
- ⚠️Guaranteed returns or "risk-free" investments
- ⚠️Platform not on official app stores
- ⚠️Can't find regulatory registration or company info
- ⚠️High pressure to invest more
- ⚠️Must pay fees or taxes to withdraw
- ⚠️Celebrity endorsements (usually fake)
- ⚠️Contacted through unsolicited message
- ⚠️Only accepts crypto deposits, no fiat
📝 Real Victim Account
"An Instagram ad showed how to turn $500 into $5,000 trading Bitcoin. The platform looked legitimate and showed my balance growing. When I tried to withdraw my $10,000, they said I needed to pay 15% taxes first. I paid $1,500. Then they said I needed more fees. I lost my original investment plus the fees — $6,500 total."
— CFTC Consumer Alert
How to Protect Yourself
- 1Use only well-known, regulated exchanges (Coinbase, Kraken, etc.)
- 2Never invest through links sent in messages
- 3Research any platform — search "[name] + scam"
- 4Don't trust celebrity endorsements without verification
- 5Never pay fees to withdraw your own money
- 6Be skeptical of guaranteed returns
- 7Keep crypto in self-custody wallets when possible
🆘 What to Do If You're a Victim
- 1Stop sending money/crypto immediately
- 2Document everything — screenshots, transactions, communications
- 3Report to FBI IC3 at ic3.gov
- 4Report to FTC at ReportFraud.ftc.gov
- 5Report to CFTC if futures/options involved
- 6Contact the blockchain's official support if applicable
- 7Be wary of "recovery services" — many are scams targeting victims
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📚 Sources & References
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