How to Spot Crypto Scams
If it sounds too good to be true… it probably is.
Why Are Scams So Common in Crypto?
Crypto is open, fast, global — and largely irreversible.
That makes it a playground not just for builders… but for scammers too.
They prey on FOMO, greed, and confusion — especially among new users.
One wrong click can cost you everything.
Let’s break down the red flags, types of scams, and how to stay safe.
Common Types of Crypto Scams
1. Fake Support & Impersonation
Scammers pretend to be from real platforms (like Telegram “admins”).
Ask for your seed phrase or 2FA code
DM you “to help” solve fake problems
Use real brand logos and names
🚫 No legit support will ever DM you first.
2. Phishing Websites
You click a link that looks like the real site… but it’s a fake clone.
URL has small changes (e.g. caesarium-com.xyz)
Login steals your credentials
Wallet connect = assets drained
✅ Always double-check the URL before interacting.
3. Investment Doublers / Fake Airdrops
“If you send 1 ETH, you’ll get 2 back!”
Fake giveaways are everywhere — especially on Twitter, Discord, and YouTube.
Often use celebrity names (e.g. Elon Musk)
Websites look slick but are fake
Once you send — it’s gone
🚫 Real projects never ask you to send first.
4. Malicious Tokens or NFTs
You randomly receive tokens or NFTs in your wallet — looks exciting? It’s a trap.
Clicking or swapping them triggers wallet drain
Approvals stay even after deletion
✅ Never interact with unknown tokens. Revoke permissions if unsure.
5. Fake Projects & Rug Pulls
Projects launch with hype, promises, and token sales… then disappear.
Anonymous teams, no whitepaper
TVL rises fast, then crashes
Liquidity pulled, token = worthless
🚧 Always research teams, audits, and code transparency.
Red Flags to Watch For
| Red Flag | Why It’s Suspicious |
|---|---|
| Guaranteed returns | Crypto is volatile, nothing is guaranteed |
| Urgency or countdowns | Pressure = manipulation |
| Private DMs with offers | 99% chance it’s a scam |
| No team or roadmap | Anonymous + vague = high risk |
| “Too good to be true” yields | Probably isn’t real |
Golden Rules for Staying Safe
✅ Use official sources only (bookmark trusted platforms like Caesarium)
✅ NEVER share your seed phrase — not even with “support”
✅ Enable 2FA on every account
✅ Use a hardware wallet for large holdings
✅ Double-check token addresses before swapping
✅ Revoke token permissions you no longer need (use tools like revoke.cash)
Real-World Example: How It Happens
Imagine this:
You click a Twitter giveaway. You’re told to connect your wallet to “claim.” You approve the smart contract. Boom — your assets are gone in seconds.
It’s not magic. It’s permissions.
Always ask yourself: “What am I signing?”
Tools to Help You Stay Safe
Chainabuse – report & check wallet scams
Revoke.cash – revoke unwanted approvals
Etherscan – verify tokens & contracts
Final Checklist
✔ Never send crypto to strangers
✔ Don’t rush because of hype or pressure
✔ Bookmark real platforms (no Googling links)
✔ If unsure — don’t sign, don’t click
✔ Trust your instincts (if it feels off, it is)
