What are the scam routines of cryptocurrency exchanges?
Apr 20, 2025 pm 05:06 PM10 scams on cryptocurrency exchanges Quick Check Table Common scams: fake exchanges, Ponzi capital plates, contract manipulation, fake coin phishing, customer service fraud and other identification points: Check regulatory licenses, check contract addresses, beware of high-yield commitments and must be protected: Use only mainstream exchanges (Binance/Coinbase) to enable hardware storage Reject share private keys/verification codes to deal with fraud: screenshot immediately, freeze assets, and report on the platform to report the alarm Core principles: Any request for passwords/transfers is a fraud!
There are various tricks on cryptocurrency exchanges. The following are the 10 common scams and prevention suggestions, which are clearly presented in tables:
A list of common fraud tricks on cryptocurrency exchanges
Type of fraud | Specific operation methods | Real cases | Identification method | Preventive measures |
---|---|---|---|---|
1. False exchange | Cloning the formal platform interface, forging transaction volume and user reviews | 2023 "BinancePro" scam | Domain name spelling errors (such as bǐnance.com), no clear regulatory information | Only download through the official website or official application store to verify the domain name registration information |
2. Ponzi Funding Trading | Promising to guarantee high returns on principal (daily interest rate of 1-3%), paying old users with funds from new users | WEX Exchange runs away in 2022 | The returns are significantly higher than the market (such as annualized exceeding 50%), and withdrawals need to be developed and downlined | Beware of "stable profits but no losses" publicity and reject projects that need to attract people |
3. Contract manipulation | Modify the K-line in the background, create abnormal slippage, and targeted explosive position | 2023 BTC contract insertion pin for a small firm | Prices are very different from mainstream exchanges and cannot close positions frequently | Choose a platform with a large transaction depth (such as Binance/OKX) without using small contracts |
4. Fraud | Impersonating an institution private equity firm and forging project party cooperation endorsement | 2021 "Musk Submission" Scam | The collection address does not match the official website, and promises to "come to the office soon" | Participate directly through the project official website to verify the storage address |
5. Fake coins to phish | Online fake coins with the same name (such as fake SHIB) to induce users to purchase | 2024 Fare Solana Token Event | The contract address does not match the CoinGecko record | Check the official contract address before transaction |
6. Customer service fraud | Fake official customer service and ask for mnemonic words or verification code | Telegram Customer Service Scam in 2023 | Real customer service will never ask for a private key/sMS verification code | Contact customer service only through official website channels |
7. Liquidity mining scam | Use high APY to attract deposits, retreat to the pool and run away | TITAN crash incident in 2022 | Annualized yields are outrageous (such as 10,000%) | Select Audit projects to avoid new mining pools |
8. Freeze withdrawal | Require taxes/security deposits to withdraw coins | 2024 "Tax Verification" Scam | Regular exchanges will not require additional cash withdrawals | Reject any form of "thawing fee" |
9. Copycat APP | Third-party app stores distribute Trojan APPs | 2023 Fake Coinbase APP | Only the official website provides download link | Download only from the official website/official app store |
10. OTC scam | Pay money first and then don’t add coins, or use black q to cause account freezing | USDTOTC scam in 2024 | The other party requests non-platform guaranteed transactions such as WeChat/Alipay | Only use the exchange official OTC to confirm the "payment and coin release" mechanism |
3 core prevention principles:
Check and supervise: Recognize SEC/FCA and other licenses (such as Coinbase/NYSE listing)
Qualification verification: Check the exchange rankings on CoinGecko and be alert to the nameless small offices
Assets protection: Large deposit and cold storage (Ledger/Trezor), the exchange only retains trading funds
When encountering suspicious situations, immediately:
Screenshots to save evidence
Report to the official platform
Report the case at https://cyberpolice.cn (China) or https://www.ic3.gov (US)
Remember: Anyone who asks you to transfer money, enter passwords, or give mnemonics is 100% fraud!
The above is the detailed content of What are the scam routines of cryptocurrency exchanges?. For more information, please follow other related articles on the PHP Chinese website!

Hot AI Tools

Undress AI Tool
Undress images for free

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Clothoff.io
AI clothes remover

Video Face Swap
Swap faces in any video effortlessly with our completely free AI face swap tool!

Hot Article

Hot Tools

Notepad++7.3.1
Easy-to-use and free code editor

SublimeText3 Chinese version
Chinese version, very easy to use

Zend Studio 13.0.1
Powerful PHP integrated development environment

Dreamweaver CS6
Visual web development tools

SublimeText3 Mac version
God-level code editing software (SublimeText3)

Hot Topics

As one of the mainstream digital assets, Ethereum (ETH) has attracted a lot of investors' attention. For beginners, how to buy Ethereum safely and quickly is the key to taking the first step in investment. This article will explain step by step the entire process from registering an account to successfully purchasing ETH, helping readers easily get started with digital asset investment.

As the market conditions pick up, more and more smart investors have begun to quietly increase their positions in the currency circle. Many people are wondering what makes them take decisively when most people wait and see? This article will analyze current trends through on-chain data to help readers understand the logic of smart funds, so as to better grasp the next round of potential wealth growth opportunities.

As the digital asset market gradually matures, Bitcoin, Ethereum and Dogecoin are called the "three giants in the currency circle", attracting the attention of a large number of investors. This article will analyze their technical basis, market position, community activity and long-term potential, so as to help users understand which one is more suitable for long-term holding.

?Many people are easily influenced by market sentiment in digital currency investment, blindly following the trend but not understanding the value of the currency itself. This article will compare and analyze the core mechanisms and values ??of the three mainstream currencies, Bitcoin, Ethereum, and Dogecoin, to help readers establish rational cognition and avoid being misled by short-term fluctuations.

In the virtual asset market, Bitcoin, Ethereum and Dogecoin are the three most common mainstream currencies, and many new retail investors are often confused when faced with these three. This article will compare and analyze technical characteristics, application scenarios, market performance, development ecology and community support, etc., to help investors understand the differences between these three currencies more clearly and make more appropriate choices.

With the continuous evolution of the crypto market, investors face not only the temptation of high returns, but also the challenge of high risks in 2025. Especially in high volatility market conditions, how to avoid traps and achieve stable returns has become the core issue that long-term holders pay attention to. This article will give a detailed explanation of asset allocation strategies and recommend several low-risk investment methods that are suitable for long-term holding.

Faced with the many mainstream digital assets on the market, many novice users often don’t know how to choose. Bitcoin, Ethereum and Dogecoin are three representative digital currencies, each with their own characteristics and suitable for the people. This article will help users clearly determine which currency is more suitable for their investment strategy based on currency characteristics, development potential and user comments.

As blockchain technology continues to mature, the virtual currency market remains highly concerned in 2025. Bitcoin, Ethereum and Dogecoin are mainstream digital assets and are attracting investors' attention. This article will analyze the investment potential of the three currencies from four aspects: project development, community activity, practical application and market trends, and help users compare and make more rational judgments.