The 6 Crypto Scams Running Right Now in the United States
These aren't theoretical. Every one of these is documented in FBI and FTC reports from 2025 and 2026. Scammers run them at scale because they keep working.
1. Fake Giveaways ("Send to Receive")
A video or post appears showing Elon Musk, Michael Saylor, or a major exchange announcing a "Bitcoin giveaway." To receive your crypto, you need to send some first to "verify your wallet." Send 0.1 BTC, get 0.2 BTC back. Sounds obvious. It has taken hundreds of millions of dollars from Americans who saw what looked like a live stream on YouTube or a sponsored post on X.
No legitimate person or company — ever — will ask you to send crypto first to receive more. The moment someone asks this, stop all contact.
2. Pig Butchering / Romance Scams
You get a text, Instagram DM, or LinkedIn message. It's friendly. They made a "wrong number." Over days or weeks, they build real rapport — they're interesting, kind, responsive. Eventually they mention they've made money in crypto and offer to show you how. They walk you to a trading platform. It shows real-looking gains. When you try to withdraw, there are "tax holds" or "compliance fees" you need to pay first. The platform is fake. Your money is gone.
This single scam type — called "sha zhu pan" (pig butchering) in Chinese — stole an estimated $5.5 billion from Americans in 2025 alone.
Any stranger who is unusually friendly and eventually steers the conversation toward crypto investing is running this script. It doesn't matter how real the relationship feels. The warmth is manufactured.
3. Fake Exchanges and Trading Platforms
A legitimate-looking website or app lets you deposit funds and shows you impressive gains on a dashboard. When you try to withdraw, you're told you need to pay taxes, fees, or upgrade your account first. The platform was always fake. Your money was never actually invested.
These sites often use real company names with one letter changed, or SSL certificates to look secure. They have live chat, professional support, and convincing documentation.
4. Seed Phrase and Tech Support Scams
Someone reaches out claiming to be from Coinbase support, Ledger, or another wallet company. There's a "problem with your account." To fix it, they need your seed phrase — or they direct you to a site where you enter it. Anyone who has your seed phrase has everything in your wallet. Legitimate companies will never ask for it.
Your seed phrase should never be typed anywhere online. No support team, no wallet company, no government agency will ever need it. Anyone who asks is stealing your funds.
5. Fake Investment Advisors on Social Media
Someone in a crypto subreddit, Facebook group, or Twitter reply says they turned $500 into $45,000 by following a specific strategy. They offer to walk you through it. They'll manage your account for you. Sometimes they're a fake celebrity account. Sometimes they're impersonating a real financial professional. They're always a scammer.
6. Pump-and-Dump Coin Groups
A Telegram or Discord group offers "insider early access" to a new coin before it pumps. By the time regular members buy in and the price rises, the organizers have already sold. Members lose most of their money. This is illegal under US law — but it's hard to prosecute when organizers are anonymous and offshore.
The Actual Words Scammers Use
These are real messages documented by FTC and FBI reports. Recognizing the script breaks the spell.
"Elon Musk is giving back to the crypto community. For a limited time, send 0.1 BTC to this address and receive 0.2 BTC back within 30 minutes. Hurry — only 500 spots remaining. [LIVE STREAM link]"
"I know this is a little personal but I've been doing really well with crypto lately. My cousin in Hong Kong taught me this method. It's not risky at all — I only put in what I can afford to lose. Would you want me to walk you through it? I'm not trying to sell you anything."
"This is the Coinbase Security Team. We've detected suspicious activity on your account. To prevent your funds from being frozen, we need to verify your identity. Please enter your recovery phrase on the verification portal: [fake link]"
The 4 Universal Red Flags
Every crypto scam — regardless of type — triggers at least one of these:
- Guaranteed returns. "Guaranteed" doesn't exist in investing. Anyone promising specific returns (10% weekly, 3x in a month) is lying. Real markets don't work this way.
- Urgency. "This offer expires in 2 hours." "Only 3 spots left." "You need to act now." Urgency is a manipulation tool to stop you from thinking clearly or asking someone else.
- Anyone asking for your seed phrase or private key. Full stop. There is no legitimate reason anyone needs these words. Not support teams, not government agencies, not wallet recovery services.
- Unsolicited contact about crypto investments. Strangers who reach out to help you make money in crypto are taking your money. This includes "wrong number" texts, DMs on Instagram, and replies to your posts.
What to Do If You Think You're Being Targeted Right Now
Stop sending money immediately. Do not pay any "withdrawal fees," "tax holds," or "verification deposits" — these are additional theft, not legitimate requirements.
Do not tell the scammer you've figured it out. They will try to manipulate you further or, in romance scams, appeal to the relationship you've built.
Screenshot everything — the platform, the conversations, the wallet addresses they gave you. You'll need these for reports.
Contact your bank immediately if you sent wire transfers or ACH payments. Depending on timing, some transfers can be reversed. For crypto sent directly to a scammer's wallet: that money is gone. Crypto transactions are irreversible.
How to Report Crypto Fraud in the United States
Reporting won't always get your money back — but it helps law enforcement build cases and warn others. File with all three:
- FTC: reportfraud.ftc.gov — Covers consumer fraud. Your report feeds the national database.
- FBI IC3: ic3.gov — The Internet Crime Complaint Center. Best for investment fraud and romance scams involving large dollar amounts.
- CISA: cisa.gov/report — If your computer or accounts were compromised as part of the scam.
If you sent funds through a US-regulated exchange (Coinbase, Kraken, Gemini), also contact their fraud team. Exchanges sometimes cooperate with law enforcement to freeze destination wallets.
Shame and embarrassment stop many victims from reporting — especially elderly Americans. If someone you love was defrauded, help them file without judgment. FBI IC3 data shows victims over 60 lose the most per incident, averaging $33,000 per case in 2025.
Frequently Asked Questions
Can I get my crypto back after a scam?
In most cases, no. Crypto transactions on the blockchain are irreversible — once sent, the money is gone. Some recovery is possible if you sent USD through a bank wire within the reversal window, or if law enforcement seizes the scammer's wallet. "Crypto recovery services" that charge fees to get your money back are almost always a second scam.
Is Coinbase safe, or could it be a scam?
Coinbase is a real, regulated US company (publicly traded on Nasdaq). The platform itself is legitimate. Scammers impersonate Coinbase support via fake emails, texts, and phone calls. Real Coinbase will never call you unsolicited, ask for your seed phrase, or ask you to move funds to an "external wallet" for security. Anything asking you to do that is a scam, not Coinbase.
What is a "rug pull"?
A rug pull is when the founders of a cryptocurrency project suddenly remove all liquidity — taking everyone's money — and disappear. It's common in DeFi (decentralized finance) and new altcoin projects. The project looks real, the marketing is slick, and the team may even appear on video calls. Then one day the website is gone and the coin is worthless. This is why beginners should avoid new, unproven crypto projects entirely.
Is a crypto investment guaranteed to make money?
No. No investment is guaranteed. Crypto is highly volatile — Bitcoin has dropped more than 80% multiple times in its history. Anyone who tells you otherwise is either uninformed or running a scam. This site won't tell you what to buy because we don't know what will happen to prices. What we can tell you is how to understand what you're looking at and how to stay safe.