Crypto Scams: How Not to Get Rekt (Wrecked!)

Because losing your coins to a stranger on Telegram is not the vibe.

Scams Are Evolving—And So Should You

The crypto space can feel like the Wild West at times. For every legit project, there’s a dodgy one lurking with slick branding and promises of overnight riches. And while blockchain is secure, the people using it? Not always.

From fake giveaways to phishing sites to rug pulls that yank the floor out from under investors—scams are everywhere. And once your coins are gone, they’re usually gone gone. I personally know far too many people who fell for a scam, despite all the red flags! 

Hard truth: If it sounds too good to be true, it absolutely is.

Red Flags to Watch For 🚩

Most scams follow a similar script. Learn to spot the warning signs so you can avoid becoming another cautionary tale in a Facebook crypto group.

• Guaranteed returns – Nope. Crypto is volatile. No one can “guarantee” profits.
• Pressure to act fast – Urgency is a classic manipulation tactic.
• DMs from fake influencers – Vitalik is not sliding into your inbox. Neither is “CarlyCryptoQueen_274.”
• Random airdrops that ask for your wallet info – You don’t need to “verify” anything.
• Projects with no team, roadmap, or whitepaper – If you can’t see who’s behind it, run.
• Asking you to “connect your wallet” to claim a prize – Instant red flag. This is how wallets get drained.

Golden rule: Don’t click what you don’t trust. Don’t connect what you don’t understand.

Common Scam Types (and How to Outsmart Them)

Let’s break down a few favourites in the scammer playbook:

• Phishing Sites: They look like the real thing, but they’re fakes built to steal your login info.
  👉 Check URLs carefully. Bookmark trusted exchanges.
• Rug Pulls: Hype-driven tokens launched fast, pumped hard, then the creators vanish with the cash.
  👉 If there's no utility or transparency—it's probably a pump-and-dump.
• Giveaway Scams: “Send 1 ETH, get 2 ETH back!” Spoiler: You’ll get zero.
  👉 No legit giveaway asks you to send money first. Ever.
• Fake Wallets & Apps: Looks official. Isn’t. Drains your crypto the second you log in.
  👉 Only download wallets from official websites or app stores with great reviews.
• AI-Generated Celebrity Scams
  👉  This one’s new and dangerous. Scammers are using AI-generated videos of Aussie celebs—like Sam Kerr talking on what looks like a morning news program—saying they’ve invested in a crypto project. Spoiler alert: It’s all fake. No Sam. No news program. Just Aussies getting ripped off.
  
  If a celeb is pushing a project, double-check it’s actually real and make sure it’s posted on their blue tick social media account and covered by major trusted news sources, not just social media screenshots or fake accounts.

What You Can Do (Other Than Panic)

Protecting yourself is less about paranoia and more about due diligence.

✅ Enable 2FA – On every exchange and wallet.
✅ Use hardware wallets – Store long-term crypto offline.
✅ Double-check everything – URLs, wallet addresses, even the spelling in email domains.
      Only trust blue tick social media accounts

✅ Educate yourself – Knowledge is your best defence in this space.

The Takeaway

Crypto is full of opportunity—but it’s also full of opportunists. Don’t let one scam sour you on the entire space.

Be curious, not careless. Be bold, not blind.

You're not too trusting—you just need the tools to navigate this new frontier without losing your shirt (or your Sats).