Crypto Scams: How to Spot and Avoid Fake Tokens, Airdrops, and Scam Exchanges
When you hear about a new crypto scam, a deceptive scheme designed to trick people into giving up their crypto or personal information. Also known as crypto fraud, it’s not just risky—it’s often irreversible. Every year, billions vanish in fake airdrops, cloned exchanges, and tokens with no team, no code, and no future. These aren’t hypotheticals. They’re real projects listed on CoinMarketCap, promoted on Twitter, and pushed by fake influencers. And if you don’t know what to look for, you’re already one click away from losing everything.
Most fake crypto airdrops, promises of free tokens that require you to connect your wallet or pay a fee. Also known as rug pull airdrops, they’re engineered to drain your funds the moment you interact. Look at HUSL or FLTY—both show up as "live" on exchanges, but have zero trading volume, no official website, and no team. The same goes for Apple Network (ANK) and Ustream Coin (USTREAM). These aren’t mistakes. They’re traps. The red flags? No whitepaper, no GitHub, no social media history, and a token name that sounds like a brand you know. If it feels too good to be true, it is.
Then there are scam crypto exchanges, platforms that look legit but lock your funds, vanish with withdrawals, or disappear entirely. Also known as exit scams, they thrive on trust and timing. Flybit and Jswap.Finance once had users. Now, they’re ghost towns. Withdrawals fail. Liquidity dries up. The site still loads—but your money doesn’t. These platforms often rebrand, change domains, or claim "maintenance" to buy time. The ones that survive? They’re usually the ones with no users left to complain.
And it’s not just about the tokens or exchanges. crypto fraud thrives on confusion—like pretending tokenized stock (TSMon) or regulated airdrops (Midnight NIGHT) are real when they’re not. People get tricked because they don’t know how to check. You don’t need to be a coder. You just need to ask: Is there a team? Is there a live blockchain? Is there actual trading? If the answer to any of those is no, walk away.
The good news? You don’t have to be a victim. Every post in this collection is built from real cases—HUSL, ANK, Flybit, JF, USTREAM, SUIMON—all broken down so you know exactly what to look for. You’ll see how Nigeria’s crypto ban didn’t stop adoption, how Bolivia’s sudden legalization led to $294 million in trades, and how Thailand’s crackdown wiped out foreign P2P platforms overnight. These aren’t just stories. They’re warning signs with clear patterns.
By the end of this page, you won’t just know what a crypto scam looks like—you’ll know how to spot one before you even click "Connect Wallet." And that’s the only defense that matters.
- By Eva van den Bergh
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- 25 Nov 2025
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