Beware of Fake Crypto Exchanges: A Common Scam You Should Know
How the Scam Works:
Attractive Token Prices: Scammers create a fake #exchange or clone a real one, showing unrealistically high prices for certain tokens (often 2x–10x more than the actual market price). This lures users into thinking they can make a big profit.
Deposit Trap: Victims are told to transfer their #tokens to this exchange to "sell at a higher price." Everything looks normal — login, balance, charts, even customer support.
Withdrawal Freeze: Once the user deposits tokens and tries to withdraw or sell, the exchange suddenly freezes the account, citing “KYC issues,” “suspicious activity,” or simply crashes/goes offline.
No Way Back: The user loses access to their funds permanently. There’s no real company or support — just scammers behind a fake front.