{"id":9857,"date":"2026-10-20T10:10:20","date_gmt":"2026-10-20T02:10:20","guid":{"rendered":"https:\/\/www.btse.com\/blog\/?p=9857"},"modified":"2026-10-20T14:45:57","modified_gmt":"2026-10-20T06:45:57","slug":"the-down-and-dirty-on-crypto-scams-and-how-to-avoid-them","status":"publish","type":"post","link":"https:\/\/www.btse.com\/blog\/the-down-and-dirty-on-crypto-scams-and-how-to-avoid-them\/","title":{"rendered":"Common Crypto Scams and How to Avoid Them"},"content":{"rendered":"<p><span style=\"font-weight: 400; font-family: inter; color: #000000; font-size: 14pt;\">Common crypto scams include phishing, fake customer support, fake giveaways and celebrity endorsements, fake tokens, pig-butchering, guaranteed-return schemes, and SIM-swap attacks.\u00a0<\/span><\/p>\n<p><span style=\"font-family: inter; color: #000000; font-size: 14pt;\"><span style=\"font-weight: 400;\">This guide shows how each works and how to avoid it. BTSE helps protect users in two ways: education, like this guide, and <\/span><\/span><span style=\"font-family: inter; font-size: 14pt;\"><a href=\"https:\/\/www.btse.com\/en\/verify\"><span style=\"font-weight: 400;\">BTSE Verify<\/span><\/a><\/span><span style=\"font-family: inter; color: #000000; font-size: 14pt;\"><span style=\"font-weight: 400;\">, a free tool that checks if a website, email, or account is really BTSE.<\/span><\/span><\/p>\n<h2><span style=\"font-weight: 400; font-family: inter; color: #000000;\">What is a phishing scam?<\/span><\/h2>\n<p><span style=\"font-weight: 400; font-family: inter; color: #000000; font-size: 14pt;\">A phishing scam tricks you into handing over your login details, seed phrase, or private keys by pretending to be a trusted site or message.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: inter; color: #000000; font-size: 14pt;\">Scammers build fake websites that look almost identical to the real one, and then send links by email, text, social media, or inserting them into search results. When you enter your details, they use them to access your account and move your funds. Crypto transfers can&#8217;t be reversed, so a stolen login credential can lead to permanent losses.<\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: inter; color: #000000; font-size: 14pt;\">The warning sign to watch for is a web address that looks slightly off. Look for swapped characters (a &#8220;1&#8221; for an &#8220;l&#8221;), extra words or an unusual ending, and spelling mistakes on the page.<\/span><\/p>\n<p><span style=\"font-family: inter; color: #000000; font-size: 14pt;\"><span style=\"font-weight: 400;\">What to do: don&#8217;t click links in unexpected messages. Type in the address yourself, or check it first with <\/span><\/span><span style=\"font-family: inter; font-size: 14pt;\"><a href=\"https:\/\/www.btse.com\/en\/verify\"><span style=\"font-weight: 400;\">BTSE Verify<\/span><\/a><\/span><span style=\"font-family: inter; color: #000000; font-size: 14pt;\"><span style=\"font-weight: 400;\">. Turn on <\/span><\/span><span style=\"font-family: inter; font-size: 14pt;\"><a href=\"https:\/\/www.btse.com\/blog\/how-to-set-up-2fa-on-btse\/\"><span style=\"font-weight: 400;\">2FA<\/span><\/a><\/span><span style=\"font-family: inter; color: #000000; font-size: 14pt;\"><span style=\"font-weight: 400;\"> so a stolen password alone isn&#8217;t enough to move funds.<\/span><\/span><\/p>\n<h2><span style=\"font-weight: 400; font-family: inter; color: #000000;\">What is a fake customer-support scam?<\/span><\/h2>\n<p><span style=\"font-weight: 400; font-family: inter; color: #000000; font-size: 14pt;\">A fake customer-support scam is when someone pretends to be exchange support to get your credentials or funds.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: inter; color: #000000; font-size: 14pt;\">They may message you first on social media, Telegram, or email, or reply to a public complaint you posted. A typical message says your account is at risk and asks you to verify credentials, share a code, or move funds to a &#8220;safe&#8221; wallet. Once you comply, they can take control of your account or your crypto.<\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: inter; color: #000000; font-size: 14pt;\">The warning sign would be any support conversation that you didn&#8217;t initiate. Real support team members never message you first and never ask for your password, 2FA code, seed phrase, or private keys. They would also never ask you to send crypto anywhere.<\/span><\/p>\n<p><span style=\"font-family: inter; color: #000000; font-size: 14pt;\"><span style=\"font-weight: 400;\">What to do: stop replying, don&#8217;t click anything, and check the sender with the <\/span><\/span><span style=\"font-family: inter; font-size: 14pt;\"><a href=\"https:\/\/www.btse.com\/en\/verify\"><span style=\"font-weight: 400;\">BTSE Verify<\/span><\/a><\/span><span style=\"font-family: inter; color: #000000; font-size: 14pt;\"><span style=\"font-weight: 400;\"> tool. Then contact support through the official channel on the <\/span><\/span><span style=\"font-family: inter; font-size: 14pt;\"><a href=\"https:\/\/support.btse.com\/en\/support\/tickets\/new?ticket_form=report_an_urgent_issue\"><span style=\"font-weight: 400;\">Support Center<\/span><\/a><\/span><span style=\"font-family: inter; color: #000000; font-size: 14pt;\"><span style=\"font-weight: 400;\">, which has a contact page.<\/span><\/span><\/p>\n<h2><span style=\"font-weight: 400; font-family: inter; color: #000000;\">What are fake giveaway and celebrity-endorsement scams?<\/span><\/h2>\n<p><span style=\"font-weight: 400; font-family: inter; color: #000000; font-size: 14pt;\">These scams may use a famous name to make an offer look trustworthy. In such a situation, a fake account, hacked profile, or edited video of a well-known person promises to double any crypto you send, or promotes an &#8220;exclusive&#8221; investment. You can send funds to the address shown, and nothing comes back. Scammers also copy real profile photos and names, and sometimes buy ads, so the account can look convincing at first glance.<\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: inter; color: #000000; font-size: 14pt;\">The warning sign is any promise to multiply what you send. No legitimate giveaway needs you to pay first. Be wary of endorsements pushing urgency, and treat celebrity backing as a red flag, not proof.<\/span><\/p>\n<p><span style=\"font-family: inter; color: #000000; font-size: 14pt;\"><span style=\"font-weight: 400;\">What to do: don&#8217;t send anything. Check the account with <\/span><\/span><span style=\"font-family: inter; font-size: 14pt;\"><a href=\"https:\/\/www.btse.com\/en\/verify\"><span style=\"font-weight: 400;\">BTSE Verify<\/span><\/a><\/span><span style=\"font-family: inter; color: #000000; font-size: 14pt;\"><span style=\"font-weight: 400;\"> if it claims to be BTSE, and go to the person or company&#8217;s official site to confirm the offer.<\/span><\/span><\/p>\n<h2><span style=\"font-weight: 400; font-family: inter; color: #000000;\">What are fake ICO and fake token scams?<\/span><\/h2>\n<p><span style=\"font-weight: 400; font-family: inter; color: #000000; font-size: 14pt;\">A fake ICO or token scam sells a coin that has no real project behind it. In this situation, scammers build a professional-looking website, white paper and social presence, collect your money during the &#8220;launch&#8221;, then disappear.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: inter; color: #000000; font-size: 14pt;\">A related scheme is the pump and dump: promoters hype a token to push the price up, then sell their holdings, and the price collapses on late buyers.<\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: inter; color: #000000; font-size: 14pt;\">The warning sign is hype without substance. Look for an anonymous team, a vague or poorly written whitepaper, pressure to buy quickly, and price talk instead of what the project actually does.<\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: inter; color: #000000; font-size: 14pt;\">What to do: research the team, white paper, and roadmap before buying, and confirm the project through independent sources. If you can&#8217;t explain what it does in simple terms, pause before putting money in.<\/span><\/p>\n<h2><span style=\"font-weight: 400; font-family: inter; color: #000000;\">What is a pig-butchering (romance investment) scam?<\/span><\/h2>\n<p><span style=\"font-weight: 400; font-family: inter; font-size: 14pt; color: #000000;\">A pig-butchering scam is a long con that mixes a fake relationship with a fake investment.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: inter; font-size: 14pt; color: #000000;\">The scammer contacts you through a wrong-number text, dating app, or social media, then spends days or weeks building trust. Once you are comfortable, they mention a crypto platform that has made them money and invite you to try it. The platform is fake, and the gains you see are made up. You are encouraged to deposit more, and when you try to withdraw, you are asked to pay &#8220;fees&#8221; or &#8220;taxes&#8221; first.<\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: inter; font-size: 14pt; color: #000000;\">The warning sign is a new contact who steers the conversation toward investing. Any platform that blocks withdrawals or asks for upfront payments to release your money is a red flag.<\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: inter; font-size: 14pt; color: #000000;\">What to do: stop sending money, keep screenshots, and don&#8217;t pay any &#8220;release fee&#8221;. Report the contact to the platform it used.<\/span><\/p>\n<h2><span style=\"font-weight: 400; font-family: inter; color: #000000;\">What are guaranteed-return and arbitrage scams?<\/span><\/h2>\n<p><span style=\"font-weight: 400; font-family: inter; color: #000000; font-size: 14pt;\">Guaranteed-return scams promise fixed, high profits with little or no risk.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: inter; color: #000000; font-size: 14pt;\">They often take the form of a Ponzi or pyramid scheme, where early investors are paid with money from newer ones until the supply of new money dries up and the scheme collapses. Some may use the name of a real strategy, such as arbitrage, to sound credible. Arbitrage itself is a legitimate trading method, but &#8220;guaranteed arbitrage profit&#8221; offers are a common cover for fraud.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: inter; color: #000000; font-size: 14pt;\">The warning sign is any promise of guaranteed profit, because no legitimate investment can guarantee one. Pressure to deposit quickly or recruit others is another.<\/span><\/p>\n<p><span style=\"font-size: 14pt;\"><span style=\"font-family: inter; color: #000000;\"><span style=\"font-weight: 400;\">What to do: walk away from any guaranteed return, and read our <\/span><\/span><span style=\"font-family: inter;\"><a href=\"https:\/\/www.btse.com\/blog\/risks-of-crypto-arbitrage-and-how-to-avoid-them\/\"><span style=\"font-weight: 400;\">guide on the risks of crypto arbitrage<\/span><\/a><\/span> <span style=\"font-family: inter; color: #000000;\"><span style=\"font-weight: 400;\">before acting on an arbitrage offer.<\/span><\/span><\/span><\/p>\n<h2><span style=\"font-weight: 400; font-family: inter; color: #000000;\">What is a SIM-swap attack?<\/span><\/h2>\n<p><span style=\"font-weight: 400; font-family: inter; font-size: 14pt; color: #000000;\">A SIM-swap attack is when a scammer convinces your mobile carrier to move your phone number to a SIM card they control.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: inter; font-size: 14pt; color: #000000;\">They gather personal details about you, often from data leaks or social media, and pose as you. Once they hold your number, they can receive your text messages, including password resets and SMS verification codes, and use them to break into accounts that rely on your phone number.<\/span><\/p>\n<p><span style=\"font-weight: 400; font-family: inter; font-size: 14pt; color: #000000;\">The warning sign is your phone suddenly losing signal for no reason, followed by alerts about logins or password resets you didn&#8217;t request.<\/span><\/p>\n<p><span style=\"font-family: inter; font-size: 14pt; color: #000000;\"><span style=\"font-weight: 400;\">What to do: where an account offers it, use an authenticator app for <\/span><\/span><span style=\"font-family: inter; font-size: 14pt;\"><a href=\"https:\/\/www.btse.com\/blog\/how-to-set-up-2fa-on-btse\/\"><span style=\"font-weight: 400;\">2FA<\/span><\/a><\/span><span style=\"font-family: inter; font-size: 14pt; color: #000000;\"><span style=\"font-weight: 400;\"> instead of SMS, because codes in an app don&#8217;t travel through your phone number. Add a PIN to your mobile carrier account, and contact the carrier immediately if your signal drops unexpectedly.<\/span><\/span><\/p>\n<h2><span style=\"font-weight: 400; font-family: inter; color: #000000; line-height: 1.6;\">How do I protect myself from crypto scams?<\/span><\/h2>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-family: inter; color: #000000; font-size: 14pt;\"><b>Check the website address every time.<\/b><span style=\"font-weight: 400;\"> Type it yourself or use a bookmark. Look for swapped characters, extra words and spelling mistakes. If you&#8217;re unsure, check it with the <\/span><\/span><span style=\"font-family: inter; font-size: 14pt;\"><a href=\"https:\/\/www.btse.com\/en\/verify\"><span style=\"font-weight: 400;\">BTSE Verify<\/span><\/a><\/span><span style=\"font-family: inter; color: #000000; font-size: 14pt;\"><span style=\"font-weight: 400;\"> tool.<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-family: inter; color: #000000; font-size: 14pt;\"><b>Never share your private keys, seed phrase or 2FA codes.<\/b><span style=\"font-weight: 400;\"> No legitimate company, including exchange support, needs them.<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-family: inter; color: #000000; font-size: 14pt;\"><b>Turn on 2FA.<\/b><span style=\"font-weight: 400;\"> Use an authenticator app where available. Our <\/span><\/span><span style=\"font-family: inter; font-size: 14pt;\"><a href=\"https:\/\/www.btse.com\/blog\/how-to-set-up-2fa-on-btse\/\"><span style=\"font-weight: 400;\">2FA guide<\/span><\/a><\/span> <span style=\"font-family: inter; color: #000000; font-size: 14pt;\"><span style=\"font-weight: 400;\">shows how.<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-family: inter; color: #000000; font-size: 14pt;\"><b>Ignore unsolicited calls, DMs and emails about crypto.<\/b><span style=\"font-weight: 400;\"> Reputable platforms contact you through official channels. Check any sender claiming to be BTSE with the <\/span><\/span><span style=\"font-family: inter; font-size: 14pt;\"><a href=\"https:\/\/www.btse.com\/en\/verify\"><span style=\"font-weight: 400;\">BTSE Verify<\/span><\/a><\/span><span style=\"font-family: inter; color: #000000; font-size: 14pt;\"><span style=\"font-weight: 400;\"> tool.<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-family: inter; color: #000000; font-size: 14pt;\"><b>Treat guaranteed returns as a red flag.<\/b><span style=\"font-weight: 400;\"> No investment can guarantee a profit.<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-family: inter; color: #000000; font-size: 14pt;\"><b>Don&#8217;t rush.<\/b><span style=\"font-weight: 400;\"> Countdown timers, &#8220;limited bonuses&#8221; and pressure to deposit now are common tactics. Take time to research.<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-family: inter; color: #000000; font-size: 14pt;\"><b>Check social accounts and ads before trusting them.<\/b><span style=\"font-weight: 400;\"> Look for signs the profile is genuine, and use the <\/span><\/span><span style=\"font-family: inter; font-size: 14pt;\"><a href=\"https:\/\/www.btse.com\/en\/verify\"><span style=\"font-weight: 400;\">BTSE Verify<\/span><\/a><\/span><span style=\"font-family: inter; color: #000000; font-size: 14pt;\"><span style=\"font-weight: 400;\"> tool for accounts claiming to be BTSE.<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-family: inter; color: #000000; font-size: 14pt;\"><span style=\"font-family: inter; color: #000000; font-size: 14pt;\"><b>Use platforms licensed to operate where you live.<\/b><span style=\"font-weight: 400;\"> Look for licensing information on the platform&#8217;s official site.<\/span><\/span><\/span><\/li>\n<\/ol>\n<h2><span style=\"font-weight: 400; font-family: inter; color: #000000;\">What should I do if I think I&#8217;ve been scammed?<\/span><\/h2>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-family: inter; font-size: 14pt; color: #000000;\"><b>Stop all contact.<\/b><span style=\"font-weight: 400;\"> Don&#8217;t reply, send more money, or pay any &#8220;fee&#8221; to release your funds. Save screenshots, wallet addresses, and transaction IDs.<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-family: inter; font-size: 14pt; color: #000000;\"><b>Secure your accounts.<\/b><span style=\"font-weight: 400;\"> Change the passwords for your exchange and email accounts, and for any account that shares the same password. Check that your 2FA is still set up as you left it, and use an authenticator app if you can.<\/span><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-family: inter; font-size: 14pt; color: #000000;\"><b>Report it.<\/b><span style=\"font-weight: 400;\"> If a BTSE account or the BTSE name was involved, contact BTSE through the <\/span><\/span><span style=\"font-family: inter; font-size: 14pt;\"><a href=\"https:\/\/support.btse.com\/en\/support\/tickets\/new?ticket_form=report_an_urgent_issue\"><span style=\"font-weight: 400;\">Support Center<\/span><\/a><\/span><span style=\"font-family: inter; font-size: 14pt; color: #000000;\"><span style=\"font-weight: 400;\">. Also report it to the platform where it happened and to your local authorities. Crypto transfers can&#8217;t be reversed, so act quickly.<\/span><\/span><\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>Common crypto scams include phishing, fake customer support, fake giveaways and celebrity endorsements, fake tokens, pig-butchering, guaranteed-return schemes, and SIM-swap attacks.\u00a0 This guide shows how each works and how to avoid it. BTSE helps protect users in two ways: education, like this guide, and BTSE Verify, a free tool that checks if a website, email, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9858,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_hide_featured_image":false,"_jetpack_featured_image_duplicate_dismissed":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1218],"tags":[1226,1230,1228,1229,1231,1227],"class_list":["post-9857","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-security","tag-common-crypto-scams","tag-crypto-phishing-scam","tag-crypto-scam-types","tag-crypto-scam-warning-signs","tag-fake-customer-support-scam","tag-how-to-avoid-crypto-scams"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Common Crypto Scams and How to Avoid Them &#8212; BTSE Blog<\/title>\n<meta name=\"description\" content=\"Learn about the 7 most common types of crypto scams, from phishing to SIM-swap attacks, plus warning signs and simple steps to protect yourself. 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