Spotting scams

Six scams we hear about every month, the tell for each, and what to do next.

Six scams, and the tell for each

If one of these is happening to you now, stop sending and talk to someone you trust.

Giveaways

A famous name “doubles” any bitcoin you send. The video, account and website are fake.

The tell: Anything that asks you to send first.

Fake support

Someone replies to your public question and sends you to a page that asks for your recovery words.

The tell: Support that found you, instead of you finding it.

Recovery services

After a loss, a firm offers to get the coins back for a fee paid up front.

The tell: A fee before any result, often in bitcoin.

Friendship and romance

A new online friend introduces you to a trading app that shows growing profits you cannot withdraw.

The tell: A stranger who wants to teach you to invest.

Pay-in-bitcoin demands

A caller, letter or message says you owe a fine, tax or fee, payable at a bitcoin machine.

The tell: Any official demand to pay in bitcoin.

Fake apps and sites

A copy of a real wallet app or website, bought to the top of search results.

The tell: A link from an ad or a message, not from the maker.

If you think you have been scammed

Act in this order. Speed matters for the first two steps.

Stop sending

Do not pay anything more, whatever you are promised or threatened with.

Move what is left

If your words may be known, send remaining coins to a new wallet with new words.

Keep the evidence

Screenshots of messages, addresses, dates and amounts.

Report it

To the police and your national fraud line; to the exchange if coins went through one.

Ignore recovery offers

Anyone who contacts you offering to get the coins back is the next scam.

Talk to someone

Losing money to a scam is common and not a personal failing. Our teachers will listen.

Not sure about a message?

Do not reply and do not click. Send us the text of the message, never your words, and a teacher will tell you what it looks like within a day (sample).