Has someone shown you a crypto investment with impressive profits?
Fake crypto investment platforms can look highly professional. They may display trading activity, account balances and growing profits even though no genuine investment exists. Money deposited into the platform may simply be going to scammers.
Common warning signs of a crypto investment scam
- Guaranteed or unusually high returns. Cryptocurrency is volatile and legitimate investments cannot guarantee consistently high profits with little or no risk.
- You are invited to a private investment group. Scammers may use WhatsApp, Telegram or other messaging apps for stock tips, crypto signals or supposed expert advice.
- A supposed expert tells you exactly what to buy. The expert, professor, analyst or successful trader may be an invented identity or an impersonation of a real person.
- The trading platform shows rapid profits. A professional-looking website or app can display completely fabricated balances, trades and investment returns.
- You can make a small withdrawal at first. Some scammers allow a small withdrawal to build trust before encouraging much larger deposits.
- You must pay another fee to withdraw your money. Requests for taxes, unlocking charges, verification payments or withdrawal fees are a major warning sign.
- You are pressured to invest quickly. Scammers may claim that a special opportunity, price or return will disappear unless you deposit immediately.
A balance on a website does not prove the money exists
One of the most convincing parts of an investment scam is the apparent trading account. It may show your original deposit growing rapidly and include realistic charts, transaction histories and account balances.
Those figures can be fabricated. A number displayed on a website is not proof that cryptocurrency was actually purchased or that any investment exists in your name.
Not sure about the investment message or platform?
Paste the message, offer or website text into ScamAssessor or upload a screenshot. It can look for guaranteed-return claims, pressure to deposit, suspicious investment language, unusual payment requests, impersonation and suspicious links.
Check it with ScamAssessorCheck the investment independently
Do not rely on reviews, testimonials or registration information supplied by the person promoting the investment. Search for the company and platform independently and look for regulator warnings.
Check whether the investment service is appropriately registered or licensed in your country. In Australia, crypto service providers can also be checked against AUSTRAC's public register.
Be particularly cautious when the opportunity began through an unsolicited social-media advertisement, messaging group, dating contact or supposed investment expert.
If you already transferred cryptocurrency or money
Stop sending additional funds, even if you are told another payment is required to release your investment.
Contact your bank, cryptocurrency exchange or payment provider as quickly as possible using independently obtained official contact details.
Save wallet addresses, transaction IDs, messages, usernames, websites and screenshots as evidence. Be wary of anyone who later contacts you promising to recover the lost funds for an upfront fee.
What ScamAssessor looks for
ScamAssessor checks combinations of warning signs including guaranteed-profit claims, unrealistic returns, fake trading platforms, requests for cryptocurrency, withdrawal fees, investment-group recruitment, urgency, impersonation and suspicious links.
ScamAssessor provides a risk assessment, not proof. A low-risk result does not prove that an investment, platform, adviser or cryptocurrency opportunity is genuine. Verify investments independently before sending money.
Official information: Scamwatch investment scam guidance .