Crypto scam and Protection.

What Is a Crypto Scam?

A crypto scam is a type of fraud where people are tricked into investing money in cryptocurrency, but in reality, their money is stolen. These scams often appear on social media, fake websites, mobile apps, or even through WhatsApp and Telegram.

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🔍 Common Types of Crypto Scams:

1. Ponzi & MLM Schemes:

You’re told, “Invest this much and get double/triple returns every month.”

Old investors are paid using money from new ones—when new people stop coming in, the system collapses.

2. Fake Giveaways (e.g. Elon Musk scams):

“Send 1 BTC and get 2 BTC back” — 100% scam.

These usually appear on Twitter, YouTube, or Telegram.

3. Phishing Scams:

You get fake emails or websites that ask you to enter your wallet info.

Your seed phrase or private key is stolen.

4. Rug Pulls (Fake Tokens & Projects):

Scammers create fake crypto tokens, promote them heavily, people invest, and then the developers disappear with the money.

5. Fake Wallets & Apps:

Some apps on the Play Store or App Store look real but secretly steal your crypto.

6. Romance Scams:

Someone builds a fake romantic relationship online and then tricks you into investing in crypto — it’s often a scam.

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🛡️ How to Protect Yourself from Crypto Scams:

1. Never Share Your Seed Phrase:

Your wallet’s 12/24-word phrase is like the key to your safe. Never give it to anyone.

2. DYOR – Do Your Own Research:

Always research any project before investing. Use Google, YouTube, and read real reviews.

3. Use Only Official Websites & Apps:

Stick to trusted platforms like Binance, Coinbase, Trust Wallet, etc.

4. Avoid "Too Good to Be True" Offers:

If someone promises 100% guaranteed profit — it’s almost always a scam.

5. Don’t Click Random Links:

Avoid links shared through Telegram, WhatsApp, or social media DMs unless you’re sure they’re legit.

6. Enable Two-Factor Authentication (2FA):

Always turn on 2FA on your crypto exchange accounts for extra protection.