Fraudulent Investment Platforms
Professional-looking trading sites with false claims of guaranteed profits.
These operations often appear highly convincing, featuring slick websites, fake testimonials, and fabricated dashboards. Investors are drawn in by promises of high returns and encouraged to deposit increasing sums. Withdrawals are then blocked, delayed, or tied to non-existent “fees.” In many cases, the website simply vanishes, leaving no way to recover funds without legal intervention.
Phishing and Email Scams
Emails or messages disguised as official communications from exchanges.
A common tactic involves sending urgent notices that mimic major platforms like Binance or Coinbase, asking the user to log in via a provided link. The link leads to a spoofed site that captures credentials or recovery phrases. Once access is gained, funds are quickly transferred out of reach. Always log in directly through verified websites or mobile apps and avoid clicking links from unverified sources.
Romance Scams with Crypto Involvement
Long-term emotional manipulation that leads to financial loss.
These scams begin with contact on dating sites or social platforms, where the person appears genuine and trustworthy. Over time, they introduce cryptocurrency investments or ask for help with transactions. Funds sent under these pretences are typically routed through fake platforms or wallets controlled by the scammer. The emotional nature of the deception often delays reporting, making timely legal advice essential.
Pump-and-Dump Coin Promotions
Market manipulation schemes built around artificial hype.
New or obscure coins are promoted aggressively via social media, Telegram groups, and influencers. Once a large enough group has bought in, those behind the scheme rapidly sell their holdings, causing the token’s value to crash. Because these coins are often unregulated and thinly traded, they’re particularly vulnerable to price manipulation. Be cautious with any token that relies solely on hype rather than project transparency or technology.
Rug Pulls in DeFi and NFTs
Projects that disappear after collecting investor funds.
Developers launch new tokens, NFT drops, or DeFi applications with impressive claims and visuals. After gaining traction and financial backing, they withdraw all liquidity or assets from the project and close their online presence. These schemes are particularly common where developers remain anonymous and smart contracts lack third-party audits. Proper due diligence is essential before funding any decentralised initiative.
Impersonation of Crypto Platforms
Posing as customer support to extract credentials or access.
A growing trend involves individuals claiming to represent exchanges, offering to fix login issues, recover lost funds, or perform identity verification. They may even use spoofed phone numbers or email addresses. Once they gain trust, they’ll request sensitive data or convince the user to install remote-access tools. No legitimate platform will ever initiate contact in this way or request passwords.
Malicious Crypto Wallet Apps
Cloned apps that look authentic but are built to steal funds.
On occasion, fraudulent wallet apps appear in mobile stores, mimicking legitimate brands. Once installed, users unknowingly transfer funds into addresses controlled by the developer. These apps may function normally at first, making them harder to detect. Always download from verified developers, and cross-check wallet addresses before any transfer.
What You Should Do After a Crypto Scam
Taking immediate, informed steps increases the chance of recovery.
If you’ve experienced fraud, preserve all evidence including wallet addresses, transaction IDs, emails, and messages. Report the matter to Action Fraud and your exchange or financial institution, especially if fiat currency was used. Seeking specialist legal support early can be key in freezing assets or tracing fund movements, particularly when time is a factor.
Speak to a Solicitor Specialising in Crypto Fraud
Advising clients across the UK from our Gloucestershire base.
We act for individuals, businesses, and investment groups affected by crypto asset loss. Our lawyers work closely with forensic analysts and international agencies to pursue asset recovery and injunctive relief. Whether funds were lost through deception, negligence, or platform failure, we offer tailored legal strategies with discretion and urgency. For confidential advice, call 0330 900 0377 to speak with our crypto recovery team.
