Protect yourself from fake ICOs, pump and dumps, wallet hacks, and celebrity impersonators. Learn crypto security essentials.
The wild west of finance attracts sophisticated scammers - know their tactics
Fraudulent Initial Coin Offerings for cryptocurrencies that don't exist or have no real utility, stealing millions from investors.
Professional websites, whitepapers, and fake team members. They disappear after collecting funds, leaving worthless tokens.
Coordinated buying to artificially inflate a coin's price, followed by mass selling that crashes the value.
Often organized in private groups promising "insider information" or "signals." You'll be left holding worthless coins.
Fake wallet applications that steal your private keys and seed phrases, giving scammers complete access to your funds.
Even official app stores have fake wallets. One typo in the app name could cost you everything.
Fake Elon Musk, Vitalik Buterin, or other celebrities promising to double your crypto if you send them coins first.
Live streams with deepfakes, hacked verified accounts, and sophisticated websites. No celebrity gives away free crypto.
Developers drain liquidity pools or use backdoors in smart contracts to steal all invested funds.
High APY promises and anonymous teams. Always check for audits and look for locked liquidity.
Fake exchange websites and wallet interfaces designed to steal login credentials and private keys.
Scammers buy ads for fake sites that appear above real ones in search results. Always verify URLs carefully.
Essential security practices for cryptocurrency users
Store significant holdings in hardware wallets like Ledger or Trezor. Never enter seed phrases online or in any app.
Double-check wallet addresses, website URLs, and smart contracts. Use bookmarks for exchanges and official sources.
Use authenticator apps (not SMS) for two-factor authentication on all exchange accounts. Consider using a dedicated device.
Check team backgrounds, read audits, verify partnerships. If it sounds too good to be true, it probably is.
Your private keys and seed phrases should never be shared with anyone, typed online, or stored digitally. Write them down offline.
Tools and practices to protect your digital assets
Require multiple approvals for transactions, preventing single points of failure in security.
Keep majority of funds offline in hardware wallets or paper wallets, away from internet threats.
Limit withdrawals to pre-approved addresses only, preventing unauthorized transfers.
Set withdrawal delays giving you time to cancel suspicious transactions before execution.
Professional code reviews that identify vulnerabilities before investing in DeFi protocols.
Verify transactions and check wallet histories before interacting with unknown addresses.
Act fast but understand crypto transactions are usually irreversible
If account is compromised, immediately transfer any remaining crypto to a new secure wallet.
If scam involved an exchange, report immediately. They may freeze accounts or trace funds.
File detailed report with FBI's Internet Crime Complaint Center including transaction hashes.
IC3.govKeep records of all communications, transaction details, and any evidence related to the scam.
Some services trace stolen crypto. Consider professional help for significant losses.
Theft losses may be tax deductible. Consult a crypto-aware tax professional.
Learn from what people are asking about Investment apps and stay ahead of the curve.
This covers identifying fake Initial Coin Offerings, rug pull schemes, and unrealistic investment promises, including how to research teams, check for audits, and spot red flags like anonymous developers and guaranteed high returns.
This addresses the danger of fake wallet applications that steal private keys and seed phrases, including how to verify legitimate wallet apps and what to do if you suspect your wallet is compromised.
This covers celebrity impersonation scams where fake accounts promise to double your crypto, including how to identify deepfakes, hacked verified accounts, and sophisticated fake websites.
This includes essential security practices like using hardware wallets for large holdings, proper storage of seed phrases, enabling two-factor authentication, verifying wallet addresses, and never sharing private keys online.