The Crypto Scam Epidemic
Cryptocurrency has created life-changing wealth for thousands of investors. But where there’s money, there are scammers. In 2024 alone, crypto scams stole over $2.2 billion from unsuspecting victims worldwide.
The worst part? Most of these scams are preventable. At Bit Remit Ltd, we’ve helped hundreds of victims recover stolen crypto. We’ve seen every trick in the book — and we know exactly how to spot them.
Here are 10 warning signs that scream “crypto scam.”
1. Guaranteed Returns (The #1 Red Flag)
Real investments don’t guarantee returns.
Any platform, person, or project promising “10% daily returns” or “guaranteed 3x profits” is lying. Legitimate crypto investments fluctuate. Scammers use unrealistic returns to trigger FOMO (fear of missing out).
🚩 Red Flag Phrases:
- “Guaranteed daily returns”
- “Risk-free investment”
- “Double your crypto in 48 hours”
- “No way to lose”
2. Pressure to Act NOW
Scammers create artificial urgency:
- “Limited spots available”
- “Offer expires in 2 hours”
- “Price doubles at midnight”
- “Don’t tell anyone, just send funds”
Legitimate investments don’t evaporate overnight. Take your time. Do research. Sleep on it.
3. Anonymous or Fake Teams
Can you verify who’s behind the project?
- No LinkedIn profiles?
- No real photos (only stock images)?
- Team members who “prefer anonymity”?
- No company registration number?
Bit Remit Ltd is UK registered (Company No: 16226194) with a verified physical address. Scammers hide. Legitimate businesses don’t.
4. Romance + Crypto = Disaster
The “pig butchering” scam is devastating:
- Someone contacts you on dating apps or social media
- They build trust over weeks (the “fattening” phase)
- They mention crypto “opportunities”
- They guide you to a fake platform
- Your money disappears
Rule: Never mix romance with investment advice. Real romantic interests don’t push crypto schemes.
5. Fake Celebrity Endorsements
Elon Musk isn’t DMing you about a “new crypto opportunity.” Scammers use:
- Deepfake videos
- Photoshopped screenshots
- Hacked verified accounts
- Fake “live” streams
Verify through official channels only. If it seems too good (or too weird) to be true, it is.
6. Unsolicited Contact
Did someone contact YOU first?
- Random WhatsApp messages about crypto?
- Discord/Telegram DMs with “investment tips”?
- Cold emails claiming you “won” Bitcoin?
- “Wrong number” texts that turn into investment advice?
Legitimate platforms don’t hunt for investors. Investors find them.
7. Complex Withdrawal Processes
Scam platforms make depositing easy but withdrawing impossible:
- “Minimum withdrawal” keeps increasing
- “Processing fees” required to release funds
- “Tax payments” demanded upfront
- Account “frozen” requiring more deposits to unlock
Test withdrawals early. If you can’t get money OUT, it’s a scam.
8. MLM or Pyramid Structures
“Refer 3 friends and earn commission on their investments” sounds tempting — it’s a pyramid scheme.
Signs:
- Earnings come from recruiting, not actual crypto
- Complex multi-level commission structures
- Emphasis on “building your team”
- No clear product or service
9. Fake Apps and Websites
Scammers clone legitimate platforms:
- URLs with slight misspellings (coinbaise.com vs coinbase.com)
- Apps not in official app stores
- Websites without SSL certificates (no padlock icon)
- Platforms you’ve never heard of ranking high in search
Always bookmark official sites. Never click email links.
10. Requests for Private Keys or Seed Phrases
NEVER share your private keys or seed phrases. Not with:
- “Support agents”
- “Wallet verification teams”
- “Customer service”
- Anyone. Ever.
Legitimate services NEVER ask for private keys. Scammers do — because that’s all they need to steal everything.
What to Do If You Spot These Signs
If you recognize these red flags in an “opportunity” you’re considering:
- Stop all communication. Don’t respond to pressure tactics.
- Don’t deposit any funds. Not even “to test the platform.”
- Report the scam. File reports with Action Fraud (UK) or the FTC (US).
- Warn others. Post in crypto communities to protect other investors.
Already Scammed? We Can Help
If you’ve lost crypto to a scam, don’t give up. At Bit Remit Ltd, we specialize in cryptocurrency recovery.
Our team uses blockchain forensics to trace stolen funds and works with legal authorities worldwide. We’ve recovered millions for victims of:
- Romance scams
- Investment fraud
- Phishing attacks
- Fake trading platforms
- Wallet drainers
Contact us for a free consultation — no upfront fees. We only get paid when you recover your funds.
Final Thoughts
The crypto space offers incredible opportunities, but it’s also a hunting ground for scammers. By recognizing these 10 warning signs, you can protect yourself and your investments.
Remember: If it sounds too good to be true, it is. If you’re pressured to act fast, walk away. And if you’ve already been scammed, we’re here to help you fight back.
Stay safe. Stay informed. And never invest more than you can afford to lose.
Already fell for a scam? Read our guide on what to do if you’ve been scammed or contact us for a free consultation.
Bit Remit Ltd is a UK-registered cryptocurrency recovery company (Company No: 16226194). We help victims trace and recover stolen digital assets using advanced blockchain forensics and legal expertise.
