Sunday 15 November
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How to spot a crypto scam

The patterns behind most losses, and what to do instead.

  1. Promises of guaranteed returns

    No honest investment guarantees a profit. “Risk-free 5% a day” is a warning sign, not an offer.

  2. Pressure to act now

    Countdown timers, “last chance” and “only for you” are used to stop you thinking. Take time.

  3. Someone you met online is teaching you to invest

    Romance and friendship scams (often called pig butchering) build trust for weeks before steering you to a fake trading site.

  4. Requests for your seed phrase or a remote-access app

    Real support never needs your seed phrase and never asks you to install software to “fix” your wallet.

  5. Fake airdrops and look-alike sites

    Check the web address letter by letter. Do not connect a wallet to a site you reached from an unexpected message.

  6. A token you cannot sell

    Some scam tokens let you buy but block selling. Anonymous teams, copied websites and a sudden rush of promotion are common signs.

  7. If it has already happened

    Stop sending money, keep screenshots and transaction IDs, tell your exchange, and report it to your national fraud service. Beware of “recovery” services that ask for a fee up front: they are usually a second scam.

This is general education, not financial advice. Crypto can lose value quickly; never put in money you cannot afford to lose.