When you’re new to crypto, it’s easy to believe a free token offer or a "guaranteed" exchange is real. But crypto scams, fraudulent schemes designed to steal your digital assets by tricking you into sending money or signing bad transactions. Also known as crypto fraud, they thrive on hype, urgency, and false promises. The truth? Most of these scams don’t need fancy tech—they just need you to act without thinking.
Look at the examples: fake airdrops, promises of free tokens from projects that don’t exist, like HyperGraph (HGT) or CFL365 Finance. No official website. No blockchain activity. No exchange listing. Just a Discord link and a wallet address asking for your seed phrase. Then there’s crypto exchange scams, fake platforms like LongBit or AnimeSwap that look real but have zero audits, no support, and vanish after collecting deposits. Even well-known names get cloned—sites pretending to be Poloniex or Upbit, using stolen logos and fake testimonials. And don’t fall for meme coins like Bulei (BULEI) or TSUGT that promise big returns but have zero trading volume and no team behind them.
Here’s what always happens: the scammer needs you to connect your wallet, send a small amount of ETH or USDT to "unlock" the reward, or enter your private key. Real projects never ask for your seed phrase. Legit airdrops don’t require upfront payments. Verified exchanges have public audits and customer support you can reach. If something feels too good to be true—like a $34 billion fine on Upbit being used as a lure—it’s probably a trick. The people behind these scams count on your excitement, not your caution.
Below, you’ll find real cases of scams that fooled people—and how they were exposed. From Canada seizing $40 million from TradeOgre for operating without KYC, to the collapse of once-hyped tokens like SOVRUN and HAPPY, these stories aren’t hypothetical. They’re records of what went wrong. You won’t find fluff here. Just clear signs to watch for, real examples to learn from, and the exact steps to avoid becoming the next headline.
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.