Crypto Scam Watch
scams, cryptocurrency, alert, scamwatch

TLDR, News, trends, and the breakdown of newly discovered crypto scams - updated almost daily

We try to publish 3 fresh scams per day.

Get the latest news on crypto scams delivered to your inbox
Crypto Scamwatch Subscription Form
Crypto Scam Watch is a website dedicated to reporting news about cryptocurrency scams, fraud, and related criminal activities.
It aims to inform and protect users from various types of crypto-related fraud. The site features articles on recent scams, legal actions, and enforcement efforts by authorities, providing insights into the methods used by fraudsters and how to avoid falling victim to their schemes.

How We Work

All products recommended by CryptoScamWatch.com are selected by our editorial team. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Are you concerned about falling victim to crypto scams and unsure of how they work and who they impact?
Crypto experts agree that awareness and education are essential in protecting yourself from the rapidly evolving threats in the cryptocurrency world. As the crypto space continues to expand, new scams emerge, targeting unsuspecting individuals. It's a challenge to keep up with all the potential dangers and separate legitimate opportunities from fraudulent schemes.

Bitcoin (BTC)

Market cap: $US1.315 trillion

Bitcoin (BTC) was created in 2009 by an entity named Satoshi Nakamoto. It's the first and most well-known cryptocurrency. Like most cryptocurrencies, Bitcoin uses a technology called blockchain. A blockchain is a digital record that tracks all transactions and is shared across many computers worldwide. This setup ensures that the system is decentralized, meaning no single person or group controls it.

To keep Bitcoin secure and prevent fraud, transactions must be verified by solving complex puzzles, a process known as "proof of work." This makes Bitcoin one of the safer and more trustworthy tokens.

Bitcoin’s price has increased dramatically as it has gained popularity. For example, in May 2016, one Bitcoin cost about $500 USD. As of July 20, 2024, which is three months after a significant event called the "Bitcoin halving," the price of one Bitcoin was around $66,667 USD. This represents a growth of over 13,233%.

Ethereum (ETH)

Market cap: $US420 billion

Ethereum is both a cryptocurrency and a blockchain platform, making it a popular choice among developers. It is known for its potential to support various applications, including "smart contracts" and non-fungible tokens (NFTs). Smart contracts are programs that automatically execute tasks when specific conditions are met, while NFTs are unique digital assets representing ownership of items like art or collectibles.

Ethereum has seen significant growth over the years. In April 2016, the price of one Ethereum was about $11 USD. By July 2024, the price had risen to around $3,500 USD, representing an increase of 31,718%.
So, how can you stay informed and protect yourself from crypto scams? We've created www.cryptoscamwatch.com, your go-to site for everything related to identifying and understanding these scams.
Unlike other sites, our reviews provide unbiased facts. We go so far as to have AI strip out any emotion or opinion, this is the facts as they are presented in the news. We merge and combine content we find from reputable sources (we hope they are reputable).

Tether (USDT)

Market cap: $US113 billion

Tether (USDT) is a type of cryptocurrency known as a stablecoin. Unlike many other cryptocurrencies, its value is pegged to the US dollar, meaning each Tether token is supposed to be backed by and redeemable for one USD. This backing is intended to keep Tether's value stable, making it attractive to investors who want to avoid the extreme volatility often associated with other cryptocurrencies.

However, it's crucial to exercise caution when dealing with cryptocurrencies, including stablecoins like Tether. Despite its design to maintain a consistent value, market fluctuations and other risks can still affect its price.

To protect your investments from scams and potential security breaches, consider storing your Tether and other cryptocurrencies offline in a secure hardware wallet whenever possible. Offline storage can help prevent unauthorized access and reduce the risk of losing your assets to cybercriminals. Always be vigilant and stay informed about the best practices for safeguarding your digital assets.

Solana (SOL)

Market cap: $US79.5 billion

Solana is a blockchain platform designed to handle transactions quickly and efficiently. It uses a unique consensus algorithm called Proof of History, allowing it to process up to 65,000 transactions per second, making it one of the fastest blockchain networks available. The platform supports smart contracts and decentralized applications (dApps) and is popular for NFT trading.

The native token of the Solana platform, SOL, is used for paying transaction fees, staking, and participating in governance decisions. Since its initial coin offering (ICO) price of $0.22 USD, the value of SOL has increased significantly, reaching $171 USD as of July 20, 2024, representing a rise of 77,627%.

While Solana offers impressive speed and capabilities, it's important to be cautious when investing in any cryptocurrency. Price volatility and security risks are ever-present in the crypto market. To protect your SOL tokens from potential scams and unauthorized access, consider storing them offline in a secure hardware wallet. Offline storage helps safeguard your assets against cyber threats and ensures your investments are more secure.
We recognize that scams can affect anyone, regardless of experience level, so whether you're a seasoned investor or new to crypto, our reviews cover a wide range of scams to help you stay informed, including detailed explanations and real-life examples.
Our knowledgeable insights cater to all levels of understandingOur information only aims to keep you safe.
In addition to the best guides on crypto scams, we provide in-depth information.
We answer questions like, “How does this scam work?” We explain the tactics used by scammers, provide guides on how to spot fraudulent activities, and offer a reputable platform to report and discuss potential scams. We even have a guide on protecting yourself from phishing scams and other common threats.
For skeptics wondering, “Do crypto scams really pose a threat?” we provide research and statistics so you can see the risks for yourself. We aim to be your source for information and the top spot for crypto scam awareness.
What are crypto scams?
Crypto scams are deceptive tactics used by criminals to steal your money, crypto assets or personal information, posing a significant threat to your financial security.
And there is a long and concerning history of their use. Faced with the prospect of financial loss, people have long sought ways to protect themselves from fraudulent activities.
Dating back to the early days of the internet, scams have evolved to take advantage of new technologies and trends. Today, scammers use sophisticated methods to trick individuals into giving away their hard-earned assets.
Modern research confirms the prevalence of crypto scams, which exploit vulnerabilities and capitalize on the lack of knowledge among the public.
The best way to protect yourself is to stay informed and vigilant. Some of the most effective strategies include educating yourself about common scams, using secure platforms, and being cautious with personal information.
So, how can you protect yourself from crypto scams? Read our expert guides and assimilation on www.cryptoscamwatch.com to find out what scammers are up to, look for commonalities and don't get burned.

The newest Trezor hardware wallet with Secure Element protection, open-source design, and on-device confirmation.

Get the Trezor Safe 5

Crypto Scam Watch monitors the following Crypto Scam types, what they are and how to spot them so that you don't become the victim
.

Sign up to our news letter for daily notifications and potential consumer alerts to scams as we are notified. As we report scams we will send out a daily email that summarizes the scams we have encountered.

  1. Phishing Scams

    • Description: Phishing Scams are fraudulent attempts to obtain sensitive information by disguising as a trustworthy entity.
    • Identification: Unsolicited emails or messages asking for personal or financial details.

  2. Ponzi Scheme Scammers

    • Description: Investment scam promising high returns with little risk, paying profits to earlier investors with funds from new investors.
    • Identification: Guaranteed high returns with little risk, consistent returns, and unregistered investments.

  3. Rug Pull

    • Description: A Rug Pull is a fraud scam where developers withdraw all funds from a project, leaving investors with worthless assets.
    • Identification: Projects with anonymous teams, sudden removal of liquidity, and lack of transparency.

  4. Fake ICO

    • Description: A Fake ISO is a cryptocurrency scam where fraudulent initial coin offerings are created to solicit investments for non-existent projects.
    • Identification: Lack of a whitepaper, unverifiable team, and unrealistic promises.

  5. Pump and Dump Scheme

    • Description: Coordinated effort to inflate the price of an asset, then selling off to profit at the expense of new investors.
    • Identification: Sudden, unexplained price spikes and promotion through unofficial channels.

  6. Fake Exchange (Fake Crypto Exchange)

    • Description: Crypto Scammers create fraudulent trading platforms that steal users' funds.
    • Identification: Unregistered platforms, lack of regulation, and poor customer reviews.

  7. Fake Wallet

    • Description: Malicious software disguised as legitimate cryptocurrency wallets to steal users' funds.
    • Identification: Unofficial download sources, poor security features, and lack of community trust.

  8. Investment Scam

    • Description: Fraudulent investment opportunities promising high returns with minimal risk often requiring hurried investment from victims.
    • Identification: Unsolicited investment offers, lack of regulation, and pressure tactics.

  9. Ponzi Contract

    • Description: Smart contracts designed to mimic legitimate investments but operate as Ponzi schemes, sometimes falls under the investment scams catagory.
    • Identification: Unrealistic returns, new investments paying older returns, and lack of sustainability.

  10. Cloned Website Cryptocurrency Scams

    • Description: Duplicate of legitimate websites to steal sensitive information.
    • Identification: Slight URL variations, poor grammar, and insecure connections.

  11. Airdrop Scam

    • Description: Fraudulent airdrops requiring users to send funds or private keys.
    • Identification: Requests for private keys, upfront payments, and unsolicited offers.

  12. Mining Scam

    • Description: Fraudulent cloud mining services promising high returns on cryptocurrency mining.
    • Identification: Unrealistic profit claims, lack of transparency, and unregistered companies.

  13. Social Media Scam

    • Description: Fraudulent schemes spread through social media platforms.
    • Identification: Promises of free cryptocurrency, celebrity endorsements, and unsolicited messages.

  14. Fake Giveaway

    • Description: Fraudulent giveaways requiring users to send cryptocurrency to receive more in return.
    • Identification: Requests for upfront payments, unofficial sources, and too-good-to-be-true offers.

  15. Malware and Ransomware

    • Description: Malicious software designed to steal information or demand ransom.
    • Identification: Suspicious downloads, unexpected encryption of files, and ransom demands.

  16. Ponzi Token

    • Description: Tokens created solely to operate as Ponzi schemes.
    • Identification: Lack of utility, unrealistic returns, and reliance on new investments.

  17. Insider Trading

    • Description: Trading based on non-public information for unfair advantage.
    • Identification: Sudden, unexplained market movements before major announcements.

  18. DeFi Rug Pull

    • Description: Developers of decentralized finance projects withdraw all funds, leaving investors with worthless tokens.
    • Identification: Anonymous teams, sudden liquidity removal, and lack of transparency.

  19. Initial Exchange Offering (IEO) Scam

    • Description: Fraudulent IEOs where exchanges and project teams collude to defraud investors.
    • Identification: Unverified exchanges, lack of regulation, and unrealistic promises.

  20. Security Breach and Hack

    • Description: Unauthorized access to steal funds or information.
    • Identification: Suspicious activities, loss of access to accounts, and unauthorized transactions.
Visit our FacebookVisit our InstagramVisit our Twitter
Copyright © 2024 Crypto Scam Watch

How We Work

All products recommended by CryptoScamWatch.com are selected by our editorial team. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram