Common crypto scams and how to spot them
Crypto attracts scammers because payments are fast and hard to reverse. These are the ones beginners meet most, and the signs that give them away.
Updated Oct 31, 2026
Basahin sa FilipinoWhat is a pump-and-dump?
A group quietly buys a small coin, then hypes it everywhere so others rush in. When the price is high, they sell everything and the price crashes.
| Step | Price | Your $100 |
|---|---|---|
| The group buys quietly | $0.10 | — |
| The hype starts; you buy near the top | $0.50 | $100 buys 200 coins |
| The group sells everything | $0.08 | Your 200 coins are worth $16 |
If a "secret" coin is suddenly everywhere, you are probably late to it.
What is a fake giveaway?
A post or video, often with a famous name or logo, promises: "Send 1 ETH and we will send 2 back." Nobody sends anything back. Whatever you send is gone.
Real giveaways never ask you to send money first.
What is a "recovery" scam?
After someone loses money, a "recovery expert" contacts them and promises to get it back, for a fee. They take the fee and disappear. It hits people twice.
What are romance and investment scams?
- 1A friendly stranger starts chatting, often on a dating app or social media.
- 2Weeks later they mention how much they earn trading, and offer to help.
- 3They send you to their "platform", where your deposit seems to grow fast: $500 shows as $2,000.
- 4When you try to withdraw, there is always one more "fee" or "tax" to pay. The money was never there.
What are fake apps and rug pulls?
- Fake apps and sites copy a real exchange or wallet, with an address one letter off, to steal your login or your coins.
- Rug pulls: the people behind a new coin collect buyers’ money, then pull it all out and vanish, leaving the coin worth nothing.
What are the warning signs?
| Warning sign | Example |
|---|---|
| Guaranteed or huge returns | "10% a week, no risk" |
| Pressure to hurry | "Only today", "last spots left" |
| Send money or crypto first | "Pay the fee to unlock your withdrawal" |
| Asks for passwords or a seed phrase | "Our support needs it to verify you" |
| A stranger who wants to manage your money | "Just give me access, I’ll trade for you" |
What should I do if someone tries this on me?
- 1Stop replying and send nothing.
- 2Never share a password, code or seed phrase.
- 3Report the account where you met them. On Tradeground, use Report in a post’s menu or on the trader’s profile.
- 4If you already sent real money, contact your bank or exchange straight away, and the police.
Tradeground never asks for real money, crypto or your password, and practice money cannot be sent anywhere.