Stay safe: crypto scams made simple.

1. Your seed phrase is the whole wallet

• Your seed phrase (12–24 words) or private key = full control of your money.
• Never share it. Not with "support," a friend, or anyone.
• Never type it into a website, form, or pop-up.
• Write it on paper (or metal). No screenshots, cloud notes or email.
• Never use a seed phrase someone else gives you. They control that wallet.

2. Nobody legit DMs you first

• Real companies, wallets and creators don't message you out of the blue to help.
• "Support" in your DMs is a scammer. Use the help page on the official site only.

3. Common scams to know

• Impersonators: fake accounts copying creators, celebrities, companies or government agencies.
• Fake support: "We can fix your wallet, just verify your phrase." Always a scam.
• Pig-butchering / romance: a new online friend or love interest shows you a "great" crypto platform. Small withdrawals work at first, then your money is stuck.
• Fake giveaways / "send 1, get 2": nobody doubles your crypto. Ever.
• Phishing links & fake apps: lookalike websites, ads and app-store copies built to steal your login or phrase.
• Rug pulls & pump-and-dumps: hyped tokens where insiders cash out and leave buyers holding nothing.
• Wallet drainers & approval scams: "claim your airdrop" sites that get you to sign a permission that lets them take your tokens.

4. Everyday safe habits

• 2FA with an authenticator app, not SMS. Text codes can be stolen with a SIM swap.
• Bookmark official sites. Open exchanges and wallets from your bookmarks, not from ads, search results or DMs.
• Start small. Send a tiny test transaction first. Then send the rest.
• Double-check addresses. Check the first and last several characters every time. Don't copy addresses from your transaction history.
• Read before you sign. If you don't understand what a wallet pop-up asks, reject it.
• Revoke token approvals you no longer use (e.g. Revoke.cash on EVM chains, a trusted revoker on Solana).

5. Hardware wallet vs exchange, simply

• Exchange account: you sign in to the exchange's platform, and it manages access and security for your account under its own rules. Easy to start, but you rely on that company staying safe and solvent. Crypto there isn't FDIC-insured.
• Hardware wallet: a small device keeps your keys offline. You hold the keys, so you hold the responsibility too.
• Buy hardware wallets only from the maker. Never one that arrives with a phrase already written down.

6. Too good to be true? It is.

• Guaranteed profits, "zero risk," free money, or a rush to act now are all red flags.
• Only scammers demand payment in crypto.

7. If you got scammed

1. Stop. Send nothing more, and stop talking to the scammer.
2. Move what's left to a brand-new wallet. Revoke approvals and change passwords.
3. Report it to the FBI at IC3.gov and the FTC at ReportFraud.ftc.gov. Tell the exchange you used.
4. Beware "recovery" scammers. People who promise to get your crypto back for a fee, even fake "law firms," are usually the next scam. Law enforcement doesn't charge you.

Sources

• FTC: What to know about cryptocurrency and scams
• CISA: Turn on MFA · Recognize phishing
• SEC Investor.gov: crypto scams alert · Relationship investment scams
• FINRA: Relationship investment scams
• FBI IC3 2025 Internet Crime Report · Fake recovery law firms PSA · Recovery scams PSA
• Trust Wallet: How to spot a crypto scam · Phishing
• Ledger: What is a recovery phrase · Hardware wallet best practices
• Phantom: Security tips · Revoke token approvals
• Revoke.cash: What are token approvals