Cryptocurrency

Understanding Cryptocurrency Fraud

Fake exchanges, "pig-butchering" schemes and wallet drainers — how they work and how to stay safe.

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How crypto scams commonly work

  • Fake trading platforms show fabricated profits to encourage larger deposits.
  • Relationship-investment scams build trust over weeks before introducing an "opportunity".
  • Wallet drainers trick you into approving malicious transactions.

Key safety rules

  • Never share your seed phrase or private keys with anyone.
  • Verify platform addresses carefully.
  • Be sceptical of anyone guiding you to a new platform.

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