Crypto and Blockchain Scam Glossary
Overview
Crypto scams exploit trust, anonymity, and a general lack of industry regulation. Below are twelve major scam types with brief descriptions.
Main Scam Types
Pig Butchering Scams: Long-con schemes where scammers build fake relationships before directing victims to fraudulent investment platforms.
Rug Pulls: Developers hype new tokens, then drain liquidity or sell holdings, causing prices to crash.
Pump and Dump: Coordinated efforts to artificially inflate token prices through hype, followed by perpetrators selling off their stakes.
Ponzi/Pyramid Schemes: Schemes paying existing investors using new investors' capital until the system collapses.
Phishing: Impersonation of trusted entities to steal login credentials or seed phrases.
Fake Airdrops & Giveaways: Scams promising free tokens while requiring wallet connections or activation fees.
Social Engineering / Impersonation: Psychological manipulation by fraudsters posing as support staff.
SIM Swapping: Fraudsters transfer phone numbers to bypass two-factor authentication.
Front-Running: Bots inserting higher-fee trades before victims' transactions.
Malware & Remote Access: Distribution of crypto-focused malware enabling account hijacking.
Fake Exchange/Broker Scams: Professional-looking fraudulent platforms preventing withdrawals through endless fees and delays.
Exit Scams: Previously functional projects disappearing with user funds.
Key Takeaway
If it sounds too good to be true, it likely is. Recognize red flags and conduct thorough research before engaging any platform or counterparty.