The Oldest Crypto Scam Is Back: "Send Crypto to Activate" Traps Persist in 2025
The “send crypto to activate and withdraw” scam, a crypto con as old as Bitcoin, is thriving in 2025. Scammers pose as brokers or influencers on platforms like Telegram or dating apps, luring victims to fake trading sites with promises of huge returns. You deposit crypto, see fake profits, but withdrawing requires more payments for “activation” or “taxes.” Spoiler: your money disappears.
The FBI reported $4 billion lost to investment scams in 2023, with the DFPI noting 58% of 2024 crypto fraud tied to this scheme. Scammers now use AI deepfakes and slick websites, with X posts exposing fake “KYC fees” or QR codes draining wallets at crypto ATMs ($65 million lost in 2024’s first half).
Red Flags: Unsolicited offers, demands for extra fees, guaranteed returns, shady websites, or pressure to act fast.
Stay Safe: Verify platforms, never share private keys, use cold storage, report scams to the FTC, and test small deposits.
Bottom Line: With $5.6 billion lost in 2023, don’t fall for this old trick. Research before you invest.
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