Bitcoin scams
Farhan avatar
Written by Farhan
Updated over a week ago


Avoid sending/depositing cryptocurrency to unknown users/unverified platforms.

All cryptocurrency transactions are irreversible and cannot be refunded once paid or sent out of the wallet. Cryptocurrency transactions do not work like debit/credit cards, users cannot file for a dispute or chargeback after sending a payment.

General advice to avoid scams

  • Never trust anyone reaching out via Facebook, Instagram, Snapchat, Discord, WhatsApp, Telegram, Viber, LinkedIn or any other social platform pretending to be a trader promising any investment profit or friend asking for funds.

  • Never trust anyone promising returns on investment. 10/10 cases these are fraudsters trying to steal funds.

  • Never send funds to an anonymous person claiming a payout after receiving a transaction fee.

  • There are many fake trading websites that can be created by anyone. A user must read website Trustpilot reviews before transacting.

  • Never reveal your 12 words recovery phrases or QR code containing this information to anyone.

  • Never respond to fake emails mentioning received payouts from financial services companies like (PayPal, Revolut,,, etc.) that ask for funds.

  • Avoid depositing crypto to mining trading platforms without proper investigation - many of them are fake.

For detailed information, please visit this link

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