Cryptocurrency scams

Learn about the latest crypto scams and how to avoid them.

Farhan avatar
Written by Farhan
Updated over a week ago

We believe in excellent customer service and always provide users with up-to-date information on how to avoid cryptocurrency scams.

Why crypto scams are common

Cryptocurrency transactions cannot be cancelled or refunded once sent out of the wallet. Scammers take advantage of this fact in an attempt to separate you from your money. Please review each transaction carefully before sending.

How to avoid crypto scams

It's common for scammers to claim that they have sent you cryptocurrency, when in fact they haven't. The best way to confirm that you have actually received the cryptocurrency is by checking the status of the transaction. If the transaction is indeed complete, it will show "CONFIRMED" in the app.

In the below screenshot, we can see the transaction status is confirmed:

Another way to check if a transaction has been completed is to view it on the "block explorer." To do this, first tap on the transaction you want to check, then scroll down and tap on “view transaction on block explorer.“ If the transaction cannot be found on the block explorer, that means it was never broadcasted to the blockchain network. In the screenshot below, we can see that the transaction was not found on the block explorer, which means it did not go through.

Red flags

A duplicated, unconfirmed or pending transaction should be considered an automatic red flag.

In the below screenshot, we can see that the transaction has not yet been confirmed:

Also note that an unconfirmed/pending transaction (ie. a possible scam transaction) can appear more than once as shown below:

Furthermore, it may appear that you have received the money, when in fact the transaction has not yet been confirmed. In the below screenshot, it appears that the use has received several Bitcoin transactions:

Examples of scam platforms

  • Synergy FX trades


  • Eazy3rade



  • Fxnet

  • Globalbittraders

  • Orbinoxstock

  • noseguro-genius


Social platforms typically used by scammers

Scammers use basically all social media platforms and messaging services, including Facebook, Instagram, Snapchat, Discord, WhatsApp, Telegram, Viber, and LinkedIn.

Block scammers on social media immediately.

If you have doubts or have any crypto-related questions, please contact us here: We offer 24/7 support.

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