The most common crypto scams

Crypto scams come in many costumes but a small number of patterns. The scammer wins the victim's trust or frightens them, then gets them to send cryptocurrency. Because the payment usually cannot be reversed, the money is gone once it is sent.

How big is the problem?

The FBI's Internet Crime Complaint Center, known as IC3, said in April 2026 that it received 181,565 complaints involving cryptocurrency in 2025, with reported losses of more than $11 billion. Crypto investment fraud alone accounted for about $7.2 billion.

The Federal Trade Commission told Congress in March 2026 that consumers reported losing $15.9 billion to fraud of all kinds in 2025. Investment scams were the largest category, at $7.9 billion. Both sets of figures count only what victims reported.

What are the main types?

• Fake investments. A website or app shows impressive profits that do not exist. The victim is often led there by a new online friend or romantic interest, a long con that authorities call pig butchering.
• Impersonators. A caller or message claims to be from a government agency, a bank, a tech company or the police. The victim is told their money is at risk or that they owe a fine, and is directed to pay in crypto, often through a bitcoin ATM. IC3 recorded $389 million in losses involving crypto kiosks in 2025.
• Giveaway scams. A fake celebrity account or video promises to send back double whatever crypto is sent in. Nothing comes back.
• Fake apps and websites. Copies of real exchanges and wallets collect passwords or seed phrases, or trick users into signing away their funds. See phishing and wallet drainers.
• Token schemes. The creators of a coin take buyers' money and disappear, as in a rug pull, or hype a coin and sell into the rush, as in a pump and dump.
• Recovery scams. Someone offers to get stolen money back for an upfront fee. The FTC says these operators target people who have already been defrauded and often pose as lawyers or officials.

What are the warning signs?

The FTC lists several signals that recur across these schemes:

• A promise of guaranteed profits or big returns with little risk.
• A demand to pay in cryptocurrency, especially from someone claiming to be a business or a government body.
• An investment tip from someone met only online.
• Pressure to act at once.
• A request for a wallet's seed phrase or password.

No genuine agency or company requires payment in crypto to protect an account, settle a debt or release winnings.

Where are scams reported?

In the United States, the FTC takes reports at ReportFraud.ftc.gov and the FBI at ic3.gov. The exchange used to send the money can also be told. The steps are set out in what to do if you are scammed.