In recent years, the cryptocurrency market has attracted a large number of investors due to its high volatility and the halo of technological innovation, but traps and scams have also emerged one after another. From fake platforms to pyramid schemes, from technical packaging to psychological manipulation, the traps in the cryptocurrency circle are diverse and highly concealed. This article combines real cases with industry trends to deeply analyze the eight core traps in the cryptocurrency circle to help investors identify risks and avoid losses.

1. Fake trading platforms and the “pig-killing” trap

1. Fake exchanges and fake transactions Criminals build fake platforms with interfaces that are highly similar to regular exchanges, falsify transaction data, create fake liquidity, and induce users to recharge virtual currencies (such as USDT) for investment. Once a user enters a large amount of funds, the platform will use excuses such as "paying a deposit" and "system failure" to prevent withdrawals, and eventually run away with the money.

For example, Wuhu citizen Li was defrauded of 440,000 yuan because he believed in the "virtual currency trading platform" recommended by a stranger on the Internet.

Prevention advice: When choosing an exchange, you need to verify its regulatory qualifications, avoid downloading APPs through unofficial links, and stay away from unknown exchanges.

2. “Pig-killing Schemes” Induced by Social Platforms

Scammers disguise themselves as "financial analysts" or "successful investors" on social media, gradually gaining the trust of victims through emotional manipulation (such as online dating), and then induce victims to invest in fake platforms by claiming "inside information" or "high-return projects."

For example, Ms. Liu suffered heavy losses because she trusted an Internet user on the "Singapore Securities Platform" and was unable to withdraw the U-coins after purchasing them.

​ Core features: Small rebates in the early stage to gain trust, and secondary harvesting in the later stage under the pretext of "upgrading membership" and "paying taxes and fees".

2. Pyramid Scheme and Ponzi Scheme Model

1. Multi-level rebates and pyramid schemes often use the cover of "blockchain innovation" and "national strategic projects" to require users to pay high entry fees and obtain hierarchical rewards by developing downlines. Risk point: The capital pool relies on new users to inject funds to maintain operations. Once the speed of attracting new users slows down, the project will collapse immediately.

3. Pseudo-innovation projects and concept hype

1. Fake ICO and air coin project parties fabricate white papers, fictitious technical teams and partners, issue tokens with no actual application value (such as "MGS mining coins"), use market enthusiasm to complete fundraising, and then disappear quickly, falsify profit data, and ultimately cause investors to lose all their money.

Key points for identification: Be wary of over-marketed promises of “hundred-fold coins”.

2. Technical concept packaging: Some projects abuse popular concepts such as "AI+blockchain", "metaverse", "RWA (tokenization of real assets)", etc., but actually lack landing scenarios.

4. High-yield promises and Ponzi schemes

1. False promises of guaranteed principal and guaranteed returns. Fraudsters use "guaranteed profits" and "5% daily returns" as bait to attract investors to participate in fake financial management. Essence: This type of scam often adopts a Ponzi structure, using new investors' funds to pay old users' returns until the capital chain breaks.

2. Leverage and contract trading traps Some platforms encourage users to use high-leverage contract trading and harvest investors by manipulating prices, slippage or malicious liquidation.

V. Regulatory and Legal Risks

1. Policy uncertainty Although global cryptocurrency regulation will become stricter in 2025, there are significant differences in policies among countries. For example, China has made it clear that virtual currency-related businesses are illegal financial activities and that investors’ rights and interests are not protected by law. Although the United States has approved the Bitcoin ETF, tokenized securities still face SEC review.

2. Money laundering and illegal capital flow The anonymity of virtual currency makes it a tool for money laundering. For example, fraud platforms often require users to transfer funds through USDT and use currency mixing services to conceal the flow of funds.

6. Phishing Attacks and Privacy Leakage

1. Phishing websites that forge wallets and steal private keys imitate popular wallets such as MetaMask to trick users into entering mnemonics or private keys, leading to asset theft.

7. Psychological manipulation and FOMO

1. Create scarcity and urgency. Project owners stimulate users to invest impulsively through limited-time subscription and hunger marketing (such as "send equity to the first 20,000 registered users"). For example, the "Turnip Run APP" claims to give away equity for free, but actually induces users to recharge.

2. Using the celebrity effect and community brainwashing, Trump coin TRUMP soared 430 times after its launch, and plummeted 80% in 20 days. The project party made money, while many investors lost all their money.

8. Fund security and custody risks

1. Exchange collapse and runawayCentralized exchanges have the risk of asset misappropriation. There is also the risk of shutting down and running awayRational investment and risk preventionBehind the myth of getting rich in the cryptocurrency circle is a multiple game of technology, mentality, strategy and human nature. Investors need to keep in mind:

1. Don’t trust promises of high returns and be wary of promises of “guaranteed profits”

2. Choose a compliant platform, such as Binance, OXY and other well-known exchanges.

3. Invest strategically and avoid going all in.

4. Learn more and build your own trading system. Only by staying rational and vigilant at all times can you avoid traps and protect the safety of your assets in the crypto wave. #比特币国家战略储备