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Crypto Scams | Actual Crypto Exchanges Blacklist

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Cryptocurrency Scams List 2025

Updated: February 02, 2025

Oleg Tkachenko

Contributor

Reviewed by

Dr. BJ Johnson

Editor

Fact-checked by

Mirjan Hipolito

Cryptocurrency and stock expert

Table of Contents

Scammers in crypto trading
Crypto scams
Top signs of crypto scam
Fraudulent schemes
If you have already suffered
How to avoid crypto scams?
Is crypto exchange trustable?
Expert opinion
Feedback
Trustable crypto exchanges
Conclusion
Related Articles

Editorial Note: While we adhere to strict Editorial Integrity , this post may contain references to products from our partners. Here`s an explanation for How We Make Money . None of the data and information on this webpage constitutes investment advice according to our Disclaimer .

Every day, cybercriminals try to gain the trust of traders in order to seize their money. Nowadays, cryptocurrency trading is at the peak of popularity and opens up many opportunities for high earnings. However, where there is a lot of money, there are always risks to meet scammers who are ready to use human weaknesses in their favor.

In this article, Traders Union experts will tell you what fraud schemes exist and what signals allow you to identify scammers.

When trading digital assets, there are always risks of encountering fraudsters whose main goal is to leave as many traders as possible with empty pockets. They often use such schemes as phishing, pump and dump, fake coins and pyramid schemes. The main signs of an unscrupulous exchange are: lack of regulation, inaccurate information on the site, overly tempting offers, and dubious coins.

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Crypto trading scams:

Broker	Year of scam
FTX	2022
Safe Currency	2023
CoinField	2022
BlockFi	2025
Coindirect	2020

What are common crypto scams?

The most common fraud schemes are Pump and Dump, cryptocurrency pyramid schemes, fake terminals with the help of which scammers completely manage your transactions, fake tokens with unprecedented growth prospects.
How do crypto scams work?

Scammers pretend to be licensed companies that supposedly have been operating on the market for years and have an impressive client base and promising financial indicators. As soon as a trader is on the hook, they start forcing him to replenish his balance as soon as possible. And then everything depends on the scheme of the scam: either they offer to invest in a non-existent token, or recommend downloading fake software, or block the account without further explanation.
Can you get crypto back after being scammed?

Unfortunately, when you make a cryptocurrency transaction with a third party, there is no stopping it. If you have been victimized by fraudsters, there is no way to get your cryptocurrency back.
What if I got scammed on crypto?

If you are convinced that you have been a victim of fraud, act quickly: do not send any more money, immediately contact your bank or financial institution to report the fraud, also ask them to stop any transactions (if you were sending cryptocurrency, contact the platform you used to send the assets), collect evidence of the fraud, write a review so that other users do not get into the same situation.

Scammers in crypto trading: who are they?

Scammers in crypto trading are unscrupulous companies that profit from other people`s ignorance. They pretend to be officially registered projects that promise users "golden mountains" and unprecedented prospects, methodically pull money out of them, and then, having achieved their goal, stop contacting them. As a result, the trader is left with empty pockets, and the swindlers continue to look for people willing to believe in their fairy tales.

Often, scammers exploit users` emotions. They tell stories about the "success" of their clients, backing up their words with stock photos and fake reviews, and urge victims to urgently take action to become one of these lucky people. And to surely motivate people to take action, the deceivers promise them unique bonuses, gifts, and even free tokens.

In the next section, TU experts will tell you more about the main "red flags" that signal that you are on the hook for scammers.

Crypto scams 2025

№	Overview	SCAM date
1	AAX	2024
2	AEX	2023
3	Alpha Trades	2023
4	Bexplus	2024
5	Bit Global	2025
6	Bit4you	—
7	BitBay	2022
8	BitForex	2024
9	BITFRONT	2022
10	Bittrex	2023

Top signs you might be dealing with a crypto scam

Attackers work according to well-established schemes that encourage users to trust them. Sometimes scammers really go to great lengths to make it impossible to distinguish their fake company from the real project. But there are still signals that immediately give away the scammers

Inaccurate information on the website. If a cryptocurrency broker declares a great experience, a multimillion client base and a lot of international awards - this information can be easily verified. For example, to see if the name of the project appears in any ratings or to check if it has actually received this or that statuette. But the most effective way is to check the age of the domain and monitor customer reviews. If comments about it began to appear literally a couple of months ago, and even "one day" (this is how you can often determine paid reviews), then it is clearly a fraud.

The project website does not have a Secure Sockets Layer (SSL) digital certificate, which certifies its authenticity and the use of a secure data transfer protocol. This is an indirect, but still a very valid signal.

Regulation. The first and most obvious sign is that the company does not have a license. Also, fraudsters like to misappropriate someone else`s authorization documents from open sources or completely copy a legitimate project, only slightly modifying the domain of the site, so be careful and double-check the information yourself.

Overly tempting offers. If the company guarantees you a high and stable profit, while promising the absence of any risks - this is a sure sign of fraud. They may also tell you about their own exclusive tokens, which should increase in value, but of course, these coins are common fakes.

Haste. Scammers in most cases "rush" their investors to give them no time to realize what is going on, resorting to manipulations of the sort of "the offer is valid only today" and "do not miss your chance". All this is done so that you do not have time to familiarize yourself with all the information and identify obvious inconsistencies.

What fraudulent schemes are most used by crypto scammers?

Method	Description
Phishing	Phishing scams are one of the most common in crypto trading. A customer receives an email from a supposedly well-known company that contains a fake link. One click on it is enough for the victim to go to the site, where their data will be instantly stolen. Often, using this scam scheme, fraudsters are interested in stealing passwords for cryptocurrency wallets.
Pump and Dump	Fraudsters use social networks to spread misinformation that allows them to artificially increase the price of a digital asset. When selling a "heated" cryptocurrency, the market collapses, after which the value of the coin returns to its natural rate. As a result, only the organizers of the scam remain on the plus side.
Financial pyramids	Fraudsters take advantage of the fact that most people do not have sufficient knowledge to invest in digital assets and offer victims to give them cryptocurrency supposedly for trust management. Further, attackers will imitate a storm of activity, sending users daily reports on transactions and profitability. And in order to finally and irrevocably convince investors of their pseudo-reliability and pull even more money out of them, the scammers will even pay some profit for the first time.
Fake exchanges	Scammers create fake exchanges, making sure users do not doubt their legitimacy. On such a page you can find a detailed legend about years of experience, several allegedly genuine awards, scanned copies of licenses, which in fact are just fakes, and even a couple of names of the creators and key employees of the fake project. The swindlers have only one goal - to swindle traders out of money, and then, having received what they want, to disappear and stop contacting them.
Fake coins	Scammers create a new coin and offer investors to invest in it while it is not yet at the peak of popularity and is characterized by adequate value. In fact, this kind of shit coin does not and will never be of any value. Its goal is to get money from inexperienced investors who have not done a full market research. Fraudsters promise investors that the cryptocurrency is about to "shoot up" and enter the first echelon. But in reality, the cheaters will disappear with your money, and you will be left with a useless and unpromising token.
Fake rug pull	A new token is created, disguised as a popular coin, for which a trading pair and a pool are launched on a decentralized exchange. For some time, the token is traded on the exchange and looks quite workable. As investors, sometimes even through an official ICO, add their funds to the project and buy the token, the scammers gradually reduce the liquidity pool and eventually leave you with a devalued coin.The same scheme includes the creation of a new DeFi trade protocol with a special exploit built into it, through which your money is eventually stolen.
Attractive offers	Scammers often lure traders with tempting bonuses, cash prizes, special offers and other "bonuses", the validity of which, of course, is limited, so that users certainly do not have time to think long and compare facts. The very essence of divorce is usually based on the fact that the victim is asked to make at least a small amount to activate those very ghostly bonuses. But, of course, after replenishing the balance, no bonuses are received, and your account is immediately blocked for some reason. In addition, all personal data of investors, provided during the registration process, is profitably sold to other scammers for calling.

If you have already suffered from the actions of crypto scammers, you should

Unfortunately, it happens that all the tips on how to recognize scammers in crypto trading are of no use, as the user has already lost their money or handed over cryptocurrency to attackers. Therefore, here are some recommendations on what to do in case you have already become a victim of scammers:

Document every detail of the incident. The first thing you need to do is control your emotions and assess the situation as objectively as possible: what happened, who was involved, what names were involved, where the funds were transferred, and so on. Specificity and accuracy will help with further investigation.
Save all possible evidence. Make screenshots of the fraudulent site and correspondence with the attackers. If the deceivers contacted you by phone, take pictures of the call history. In this case, it is necessary to act quickly, as scammers tend to remove evidence and delete all information in the first hours after the incident.
Gather all the necessary data for law enforcement agencies. This list includes: phone numbers through which the attackers contacted you (although most often, scammers use disposable SIM cards), website domains, platforms where you saw fraudsters` advertisements with calls to action, links to social networks and nicknames in messengers, e-mail addresses, links to sites where reviews of fraudsters were published.
Track where the funds are now. All transactions with digital assets are recorded in the blockchain, which is a transparent registry. So knowing the address of the user, you have the opportunity to track where and how much money he sent, and thus confirm the fact of fraud. Carefully monitor any movement of stolen funds.
Examine every transaction and every address. Systematize the information so that it can be forwarded to law enforcement for further investigation.

How to avoid crypto scams?

Any speculation about digital assets is always associated with increased risks. This is especially true for beginners, who do not yet understand how the cryptocurrency market works and can be used by fraudsters. In order to avoid meeting attackers, adhere to these recommendations:

Do not respond to unwanted contacts. It happens that your number receives persistent calls from managers of a supposedly famous crypto exchange with offers to register on their platform. Representatives of the company vividly describe the advantages of cooperation with the project and as proof of reliability, they cite their stunning financial indicators. But the callers are common scammers, so it is better to block such numbers at once.

Do not click on links. Above experts have already described a phishing scheme, so if you receive a dubious link from an unknown sender in your mailbox, do not click on it under any circumstances, as fake projects send out such links in order to steal the personal data of victims.

Double-check the information. Do not unconditionally believe all the statements of the company. Double-check the age of the domain, look for project employees on social networks, read reviews on forums, etc. A reliable platform should have a roadmap and a clear description of past achievements and plans for the future. If the resource does not have one, it can be a sign of a dubious crypto platform.

Pay attention to the presence of the HTTPS protocol. This indicates that the connection to the site is protected and traffic is encrypted.

Block transactions. If you receive notification of unusual activity in an account, block all transactions immediately.

How do I know if a crypto exchange is trustable?

Every user is concerned about the full protection and safety of their funds, so below experts have listed several parameters by which you can determine who is in front of you - a reliable cryptocurrency exchange or a fraudulent project:

Availability of information. A reliable exchange will not hide data about its origin, country of registration, license, internal documents, contacts, etc. from its clients. Also, the page of the crypto exchange should contain up-to-date information about the stages of its development with specific dates and detailed description of processes, the number of active clients, daily/monthly trading volume, etc.

Security. Reliable exchanges prioritize the safety of users` funds. For this reason, TU analysts recommend familiarizing yourself with the security technologies used by the selected project - cold wallets for storing assets, two-factor authentication, etc. If the exchange`s security methods are in order, then it can be trusted.

Customer service. You should be sure that if you have questions, you will be able to quickly contact the company`s representatives either by phone or by e-mail. If the exchange resource has only a form for quick feedback, and employees can ignore messages for days - this is not the best option for cooperation.

Interface. The interface of a crypto exchange is not only about convenience, but also about minimizing errors in the category of "clicked the wrong button" or "selected an option and now I don`t know how to cancel it". A convenient and intuitive interface allows traders not to waste time studying their device, but to focus on the trading process at once. Besides, a good interface increases the speed of transactions, which is also important.

Trading conditions. First, a trusted exchange never hides its offers and does not ask you to contact managers to clarify details. Secondly, the trading conditions of a reliable exchange are not detached from reality. On the website you can find a list of available cryptocurrencies, charts of the price movement of the selected asset, its actual quotes, data on commissions, etc.

Expert opinion

Every day, crypto scammers try to gain the trust of users in order to take their money. For this purpose, they use various tricks - from tempting promises of quick profits to phishing links, with the help of which the scammers steal the confidential data of their victims. The result of such manipulations is always the same - deceived users are left without money and without the slightest idea how to return the lost funds.

It can be difficult to recognize scammers, as they often successfully disguise themselves as reliable exchanges and even deceive future victims with fake authorization documents. But still there are several signs that will help you identify a scam project. Lack of specifics on the site, problems with contact information, haste on the part of managers who do not leave you time to think, lack of a license or lack of references to the project in the database of the regulator, which supposedly controls its activities, negative reviews on forums - are the main signals that give away the cheaters. Be careful and do not trust your money and personal information to third parties without a thorough preliminary check!

Author and expert at Traders Union

Feedback of Traders Union’s participants on crypto scams

User reviews are an excellent identifier of an exchange`s reliability. Reviews from former and current clients of the project help you understand how well its promises correspond to the real state of affairs and what results you should expect from cooperation. In reviews, users share their experience and describe in detail the pros and cons of working with the company, giving it a well-deserved rating. In addition, by reading the comments of other investors, you reduce the risk of getting in touch with scammers.

On the Traders Union website you can always find honest reviews about the exchange you plan to cooperate with. Expert opinions will allow you to carefully weigh the pros and cons and make an informed decision.

Top Trustable crypto exchanges

9.4/10

Go to broker

Your capital is at risk.

Minimum deposit:

₿0.00005 (BTC)

Review

OKX (aka OKEX) is an international cryptocurrency exchange that has been providing financial services since 2017. On the OKX platform, you can buy and sell cryptocurrencies and earn money by storing tokens and providing funds for margin trading. The cryptocurrency exchange offers over 100 cryptocurrencies such as BTC (₿), LTC (Ł), ETH (Ξ), XRP, etc.), several ways to make passive income, and a base with educational materials.

Pros/Cons

•The availability of various investment programs.

•Proprietary educational academy with useful materials.

•Wide range of cryptocurrencies.

•The exchange is multilingual and available in 20 languages.

•A mobile app is available.

•The exchange uses cold and hot wallets with a high-security level.

•The company offers cryptocurrency listing services.

•Trading and depositing in fiat currencies are not available.

•Few ways to contact client support

•The company is unlicensed and unregulated.

9.2/10

Go to broker

Your capital is at risk.

Minimum deposit:

Review

The Kraken exchange is a trading platform for Bitcoin, Ethereum, Tether, Cardano, XRP, other cryptocurrencies, and stablecoins. Fiats are represented by EUR, USD, CAD, CHF, AUD, GBP, and JPY. In addition to margin trading, Kraken has indices and futures trading. The exchange provides traders with x5 leverage for margin trading and x50 for futures. Commission fees are among the lowest on the market - up to 0.26%. The crypto exchange has a proprietary trading terminal for an internet browser, as well as mobile applications for iOS and Android devices. The platform offers an extensive knowledge base, tutorials, and video podcasts with news and analytics. The referral program is the standard single-level model with a yield of 20% of the referral’s commission fees.

Pros/Cons

•convenient, intuitive terminal with one-click trading;

•all major cryptocurrencies, as well as seven fiats;

•margin trading, as well as futures and indices trading ;

•large leverage (x5 for margin, x50 for futures trading);

•an extensive database of information and training materials;

•large trading volumes on the exchange provide high liquidity;

•some of the lowest fees in the cryptocurrency market.

•no investment programs;

•no call center.

9.1/10

Go to broker

Your capital is at risk.

Minimum deposit:

Review

Pros/Cons

•a large number of cryptocurrencies and tokens, the list of assets is constantly growing;

•all major options for depositing and withdrawing funds (bank cards and accounts, e-wallets, etc.);

•the crypto exchange provides traders with leverage: for margin trading, it’s 1:3; for derivatives, it’s 1:50;

•the function of cryptocurrency lending, securing a loan with one cryptocurrency at the expense of a deposit in another;

•the opportunity to earn extra money by participating in regular events at the Trading Arena;

•investment solution. The Supercharger allows you to flexibly invest free cryptocurrency funds;

•the ability to pay trading commissions with your own coin of the CRO platform with a partial refund;

•the crypto exchange provides a multicurrency wallet and a Visa Crypto.com plastic card with an 8% cashback.

•no fiat trading;

•the support service does not have a call center;

•there are no full-fledged training programs.

Conclusion

The popularity of cryptocurrencies is growing rapidly, so it`s no surprise that in recent years a huge number of scammers have appeared on the Internet, who use the inexperience of traders in their favor. Fake links to trick out personal data and passwords, fake coins, fake exchanges, which scammers are trying hard to disguise as legitimate and reliable, distribution of false information to artificially "inflate" the price of the asset - just a small part of the schemes that are used by scammers.

If you do not want to become a victim of deception, carefully double-check the information on the site of the exchange and be sure to read reviews. Remember that free cheese is only in a mousetrap, so do not fall for unrealistic promises of quick enrichment and send money to dubious persons.