Crypto Scams: How to Spot and Avoid Common Crypto Fraud Tactics

When you hear about someone losing thousands in a crypto scam, a deceptive scheme designed to steal cryptocurrency through trickery, fake platforms, or false promises. Also known as crypto fraud, it’s one of the most common reasons people lose money in digital assets—often because they didn’t know what to look for. These aren’t just random hacks. They’re carefully built traps that use hype, urgency, and fake legitimacy to fool even smart people.

One of the biggest traps is the airdrop scam, a fake token distribution that tricks users into connecting wallets or paying fees to claim non-existent rewards. You might see a post claiming you’ve won free tokens from CoinMarketCap or Binance. But CoinMarketCap doesn’t do airdrops—ever. DeFi11 (D11) had zero tokens in circulation, yet people still sent crypto trying to "claim" it. Then there are fake exchanges, unregulated platforms like C-Cex that vanish with your funds, change domains weekly, and offer no customer support. They look real. They have logos, fake reviews, and even YouTube ads. But if there’s no regulation, no insurance, and no clear team behind it, walk away.

Phishing is another silent killer. A text or email that says "Your wallet needs verification"—it’s not from your exchange. It’s a link to a cloned site that steals your private keys. Or a Twitter DM from someone pretending to be a support rep offering to "help" you recover lost funds. That’s how you lose everything. Even legitimate projects like TOPGOAL or IguVerse had fake airdrop sites copied from their real pages. If you didn’t get the offer through the official app or website, it’s not real.

And don’t fall for the "guaranteed returns" pitch. If someone says you’ll double your money in a week, they’re selling you a dream. Poodl Inu (POODL) and Pek (PEK) had no team, no utility, and collapsed fast. Meme coins like these aren’t investments—they’re gambling chips. The same goes for tokens tied to vague tech like "decentralized AI computing" with no product, no users, and no roadmap. If you can’t explain what the project actually does in one sentence, it’s probably a scam.

Real crypto projects don’t need to beg you to join. They don’t pressure you with countdown timers. They don’t ask for your seed phrase. They don’t promise free money. The crypto scams you’ll see below—whether fake airdrops, rogue exchanges, or phishing lures—are all variations of the same old trick: exploit trust. We’ve collected real cases from Australia and beyond to show you exactly how they work, what they look like, and how to avoid them. You won’t find fluff here. Just facts, red flags, and what to do before you click, connect, or send.