Almost every crypto scam reuses one of the same six patterns, no matter how different the message carrying it looks.
Guaranteed returns and pressure to act now
No real investment guarantees a fixed return, because the price of a freely traded asset depends on the market, not on someone’s promise. When someone tells you exactly how much you’ll earn and by when, the signal is clear. It usually comes paired with a second pattern: pressure to decide immediately, with an offer that “expires” in minutes. The rush is intentional, since it leaves you less time to check or get a second opinion; a real financial decision rarely hinges on a few minutes.
Requests for secret information
No legitimate platform, no real employee, and no “technical support” needs your recovery phrase or your account password to help you. Whoever asks either wants direct access to your funds or is testing whether you’re the kind of person who hands it over on the first request. The same rule applies to authentication codes received by SMS or app: you don’t read them aloud to a caller, no matter how official they sound.
“Recovery” for a fee and fake “investment managers”
A slower version of the scam builds trust over time instead of demanding it upfront. Someone presents themselves as your personal investment manager, often on Telegram or WhatsApp, and shows you an account that keeps “growing,” to convince you to deposit larger and larger amounts. In a related version, you’re contacted after already losing money in another scam, by someone who promises to recover it for a fee paid upfront. In both cases, the money flows one way: toward them. No legitimate recovery asks for payment beforehand.
Fake platforms and apps
Sites and apps that copy a real platform’s look exactly are the last common pattern, and often the vehicle for the others. Always check the domain in your browser and install apps only from the official stores, never from a link sent in a message; we cover exactly what to check in the buying guide.
What to do if you’ve been scammed
Stop all interaction and don’t send anything else, no matter how convincing the other side sounds. Change the passwords on any accounts involved and turn on two-factor authentication. Keep all the evidence: screenshots, wallet addresses, conversations. The Scams page has the detailed steps and the official contacts where you can report the case.
What to remember
- Guaranteed returns and pressure to act now are red flags, almost without exception.
- No legitimate party ever asks for your recovery phrase, password, or authentication codes, under any pretext.
- A recovery that asks for payment upfront is itself a scam; always check the domain and the source of an app before installing it or entering any data.