When you hear about a new fake crypto project, a digital asset with no real team, code, or purpose, created only to steal funds. Also known as crypto scam, it often promises huge returns, free tokens, or exclusive access—none of which ever materialize. These aren’t just bad investments—they’re designed to disappear with your money before you even know what happened.
Look at what’s happening in the real world. Projects like LongBit, a fake crypto exchange with zero public records or user reviews and AnimeSwap, a non-existent DEX on Sui that tricked people into connecting wallets aren’t anomalies—they’re the norm. The same goes for fake airdrop, a lure claiming you can get free tokens by signing up or sharing personal info. HyperGraph (HGT), CFL365, and even fake BABY or HAPPY token giveaways? All made up. No official website. No blockchain activity. No team. Just a landing page and a wallet address to send your ETH or SOL.
And it’s not just airdrops. Scammers create fake exchanges like Libre, a platform pretending to offer low-fee BTC trading but with no audits or support, or copy real ones like Poloniex and Upbit to steal login details. Even when a project once had real backing—like SOVRUN or TSUGT—many people still chase dead tokens because they don’t know how to tell the difference between a dying project and a total fraud. The truth? If it sounds too good to be true, it is. If you can’t find a GitHub repo, a whitepaper, or a verified Twitter account from the team, walk away. Real crypto moves slowly. Scams move fast.
You’ll find real stories below—like how Canada seized $40 million from TradeOgre for running an anonymous exchange, or how South Korea fined Upbit $34 billion for ignoring KYC rules. These aren’t just headlines. They’re proof that regulators are catching on. Meanwhile, fake crypto projects keep popping up, using the same playbooks: urgency, celebrity shills, fake testimonials, and promises of instant wealth. The goal isn’t to build anything. It’s to get you to send crypto to a wallet no one can trace. Below, you’ll see exactly how these scams work, which ones are still active, and how to protect yourself before it’s too late.
CovidToken airdrop claims are scams. No such project exists. Learn how these fake crypto schemes work, how to spot them, and which real airdrops to watch in 2025 instead.