10 warning signs of a crypto scam

How to use this list

When you hear about a crypto project, app or offer, check it against the signs below. If even one matches, stop. If two or three match, it is almost certainly a scam.

10 red flags

1. Guaranteed or fixed returns

"2% a day", "30% a month guaranteed". No one in a real market can guarantee a fixed return. This is exactly how Ponzi schemes lure people in.

2. Commissions for recruiting

If your income depends on how many people join under you, it is an MLM structure. New members' money pays the old members' profits, and the scheme collapses once recruitment stops.

3. Fees before you can withdraw

"Pay 10% tax before withdrawal", "account unlock fee". Real platforms deduct fees from the balance. They do not ask you to send more money first.

4. Pressure and "last chance"

"Closes at midnight", "first 100 people only". Rushing you so you have no time to think is an old trick.

5. A dashboard "balance" that keeps growing

A dollar figure rising in an app does not mean the money exists. MTFE victims later learned that the balances shown were just numbers on a screen.

6. Unknown apps or APK files

Being asked to install from a link outside the Play Store, or a fake app impersonating a known exchange. See fake apps and phishing.

7. Requests for your seed phrase, PIN or OTP

No support team, admin or "officer" ever needs these. Ever. See seed phrase safety.

8. Celebrity or "big brother" endorsements

Deepfake videos of famous people, fake pages, and photos of "successful" members' expensive cars can all be staged.

9. "Signal" and "pump" groups on Telegram or WhatsApp

"Buy this coin now, it will 10x." Group owners often buy first, let members push the price up, then sell to them.

10. Investment offers after romance or friendship

You meet online, chat for weeks, then hear "I'm earning well on this platform, you should start too". This is known as "pig butchering".

Quick check

If you have been scammed

1. Stop sending money.
2. Keep all evidence: screenshots, transaction IDs, phone numbers, the website or app name and links.
3. File a GD or case at the police station and report it to the CID Cyber Police Centre.
4. Do not trust anyone offering to "recover" your money. It is a common second-round scam.
5. Tell family and friends so they do not fall into the same trap.

Key points

• Guaranteed profit, recruitment bonuses and fees before withdrawal are the three biggest signs.
• Never share your seed phrase, PIN or OTP.
• If scammed: keep evidence, report it, and beware of "recovery" offers.