Scam Alert: How to Protect Yourself from Fraud

The crypto world is exciting, but unfortunately, it's also a magnet for scammers. With a little knowledge and common sense, you can protect yourself very well. This guide shows you the most common schemes and what to do if you fall victim to one.

The Most Common Scams

Phishing

You receive an email or direct message that looks like it's from an official source (e.g., Ledger, MetaMask). It asks you to click a link and enter your data or seed phrase. **Never do this!**

Fake Airdrops/Mints

Scammers create websites promising an exclusive airdrop or NFT mint. If you connect your wallet, it will be emptied ("wallet drainer").

"Support" Scams

Someone DMs you pretending to be "Admin" or "Support." **Real support will NEVER DM you first.**

Pump & Dump

A group artificially inflates the price of an unknown coin ("pump") and then sells all at once ("dump"), causing the price to crash.

Your Security Checklist: Spotting Red Flags

Before interacting with a new site or investing, ask yourself these questions. If you answer "Yes" to any of them, all alarm bells should go off.

Is the promise too good to be true? (e.g., "guaranteed profits," "double your ETH")

Are you being pressured to act fast? (e.g., "Only 1 hour left!", "Last chance!")

Do you have to enter your seed phrase? (This is the **absolute NO-GO!** Never, under any circumstances!)

What to Do If It Happens? (Emergency Plan)

If you suspect your wallet has been compromised, act immediately:

  1. Transfer remaining assets: Immediately send any remaining coins and NFTs to a new, secure wallet address that you created beforehand.
  2. Revoke wallet permissions: Go to a site like Revoke.cash, connect the compromised wallet, and revoke all suspicious permissions you may have granted.
  3. Abandon the wallet: **Never** use the compromised wallet again. Consider it burned.