ChangeNOW review: Exchange outlines key steps to avoid fraud

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ChangeNOW issues safety guide

From ICO fraud to social engineering: How scammers target users

The report identifies multiple scam categories driving the majority of current losses:

ICO and investment fraud

While early crypto years were defined by large-scale ICO scams—including OneCoin and Kik’s $100M Kin token sale—ChangeNOW notes that today’s fraud tactics are more targeted and sophisticated. Nearly 80% of ICOs since 2017 failed or delivered nothing, according to IRM research.

Phishing and fake websites

Scammers imitate exchanges and wallet providers to harvest login credentials and seed phrases. One recent victim lost $908,551 in USDC after unknowingly approving a malicious smart-contract signature that granted attackers long-term wallet access.

Social engineering

Many scams begin as friendly messages on social media. Reuters reports that fraudsters spend weeks building trust before convincing victims to move funds into fake “investment platforms,” after which both the funds and the scammer vanish.

Malware and browser extensions

In mid-2025, the GreedyBear campaign pushed over 150 malicious browser extensions, impersonating popular wallets and crypto tools. Once installed, they silently replaced wallet addresses, stealing more than $1 million before removal.

How users can protect themselves: Practical security measures

ChangeNOW outlines several essential practices to stay safe:

- Double-check wallet addresses and avoid any sent via private messages.

- Verify domains carefully to avoid phishing sites that mimic legitimate platforms.

- Avoid guaranteed-profit schemes, “secret trading systems,” and unsolicited airdrop offers.

- Protect seed phrases offline, never storing them as photos or cloud notes.

- Be cautious with email and direct-message requests, especially those using urgency or threats.

- Use multiple wallets to diversify risk between hot and cold storage.

- Stay informed through reliable crypto news sources and ongoing education.

ChangeNOW stresses that human vigilance—not technology—is the strongest defense: “Users who avoid scams are the ones who stay alert, double-check links, and read what they sign.”

Trusted services remain critical

To support safer crypto participation, ChangeNOW highlights its role as a non-custodial platform that allows instant swaps across 1,400+ assets without requiring account creation, reducing risks tied to data breaches and centralized custody.

As crypto markets expand and scams evolve, ChangeNOW expects security guidance to remain a critical focus. The company plans continued investment in educational material to help users navigate an increasingly complex environment.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.