Crypto scams
Crypto scams exploit one fact: transfers are fast and can't be reversed. Once money leaves your wallet, there's usually no way to get it back.
How it works
Common forms include fake investment platforms promising guaranteed returns, romance-investment scams built over weeks, impersonation of wallet or exchange "support," and giveaway scams ("send 1 coin, get 2 back").
The most damaging move is getting you to share your recovery words. Your seed phrase is the key to everything you hold — and no legitimate company will ever need it.
Common forms
Red flags
Spot it in the wild
No legitimate wallet or exchange will ever ask for your recovery phrase — it's the master key to everything you hold. The domain reads cryptovauItsafe.co with a capital I in place of the l, and "verify ownership" is the bait. Anyone asking for your seed phrase is trying to empty your wallet.
What to do instead
The right response
Treat your seed phrase like the key to a safe — never share it, never type it into a site. Verify platforms independently, and remember that once a transfer is sent, it can't be undone.
If you fell for it
- 1If you shared your seed phrase, move any remaining funds to a new wallet with a brand-new phrase immediately.
- 2Stop all contact, and don't send "fees" to "release" your funds — that's a second scam.
- 3Report it to the FTC and the FBI's IC3 at ic3.gov, and notify the real exchange.
- 4Remember transfers can't be reversed — the priority is protecting what's left.
Test your judgment
See if you can spot scams like this one in our quiz.