Crypto scam alerts: common traps in Bangladesh and notable cases
"Dollar income" apps, task scams, fake mining, P2P fraud and notable cases like MTFE: warning signs, sources and what to do.
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"Dollar income" and daily-profit apps
Deposit USDT or taka and earn a fixed daily profit: the most common crypto-themed fraud in Bangladesh. Names change; the structure stays the same.
"Earn by doing tasks" and fake online job scams
Commission for liking videos, writing reviews or "completing" orders: small payouts at first, then you must deposit your own money or USDT to unlock…
Mobile mining and cloud mining scams
"Mine bitcoin on your phone" or "rent a mining machine for daily income": most of these are either ad-driven fakes or Ponzi schemes built on deposits.
P2P and informal trading fraud
Taking payment and never delivering USDT, fake payment screenshots, routing other victims' money through your account: informal crypto trading is…
Pig butchering: investment fraud through fake relationships
A "wrong number" message or a social-media contact, weeks of friendship or romance, then "I'm earning well on this platform". The fake platform…
"Fund recovery" scams: getting cheated twice
After you have been scammed, someone posing as a "hacker", "lawyer" or "official" offers to recover your money, on one condition: a fee up front.…
Fake giveaways, airdrops and "double your crypto"
Deepfake videos or fake pages of famous people: "send 1 bitcoin, get 2 back" or "connect your wallet to claim free tokens". Money sent never…
Telegram "signal" and pump-and-dump groups
"Buy this coin now, it will 100x": group owners buy first, let members push the price up, then sell to them. The last buyers take the loss. Many…
Notable cases
Each case is based on published news or official documents; sources are listed on every page.
MTFE: a crypto "trading" Ponzi scheme
This online "trading" platform promised regular returns, operated in Bangladesh from 2022 and abruptly shut down in August 2023. Investigators…
OneCoin: the "cryptocurrency" with no real blockchain
Sold worldwide through MLM networks, OneCoin did not run on any real blockchain. A co-founder was sentenced to 20 years in the US; the other…
BitConnect: a Ponzi scheme behind a "trading bot"
BitConnect promised daily profits from a "trading bot" and collapsed in January 2018. US prosecutors charged its founder with running a Ponzi scheme…
Forsage: a pyramid scheme running on smart contracts
Forsage claimed to run on "decentralised" smart contracts. In 2022 the US SEC charged it as a pyramid and Ponzi scheme. It was promoted worldwide,…
HyperFund (HyperVerse): a pyramid sold as crypto mining
HyperFund sold memberships promising steady income from crypto mining. In 2024 the US SEC and Justice Department brought cases, alleging no…