Identify crypto scams including fake exchanges, rug pulls, and pig butchering schemes.
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Cryptocurrency scams exploit the complexity and excitement surrounding digital currencies. They range from fake exchanges and wallet apps that steal your funds, to elaborate "pig butchering" schemes where scammers build relationships before leading victims to fraudulent trading platforms.
Rug pulls involve creating a new cryptocurrency token, inflating its value through marketing, then withdrawing all liquidity — leaving investors with worthless tokens. Fake airdrops trick users into connecting their wallets to malicious smart contracts that drain their funds.
The irreversible nature of cryptocurrency transactions makes these scams particularly devastating. Once crypto is sent, it cannot be recovered. Scammers exploit this finality and the general public's limited understanding of blockchain technology.
Someone you met on a dating app introduces you to a crypto trading platform. You start with $500 and your dashboard shows it growing to $5,000. When you try to withdraw, they say you need to deposit another $2,000 as a "tax reserve."
A Twitter account posts about a limited airdrop. You click the link and connect your MetaMask wallet to "claim" free tokens. Instead, a malicious contract drains your wallet.