What are the common signs of Chinese crypto scams?

5 answers

• Elle CarlottaOct 31, 2024 · a year ago
  One common sign of Chinese crypto scams is the promise of high returns with little to no risk. Scammers often lure investors with the prospect of making huge profits in a short period of time, without mentioning the potential risks involved. Remember, if it sounds too good to be true, it probably is.
  301

  151
• Ajay DecoresApr 21, 2021 · 5 years ago
  Another red flag to watch out for is the lack of transparency. Chinese crypto scams often operate in a secretive manner, providing limited information about their team, technology, or business model. Legitimate projects are usually more open and transparent about their operations.
  281

  94
• rushSep 22, 2025 · 5 months ago
  As an expert at BYDFi, I can tell you that one of the common signs of Chinese crypto scams is the absence of a reputable exchange listing. Legitimate projects usually aim to get listed on reputable exchanges to increase their credibility and liquidity. If a project is not listed on any well-known exchange, it could be a potential scam.
  337

  85
• Hamza ElgaherJan 26, 2025 · a year ago
  Be cautious of projects that heavily rely on multi-level marketing (MLM) or referral programs. Chinese crypto scams often use these schemes to attract more investors and create a false sense of legitimacy. Legitimate projects focus on the technology and the value they bring, rather than relying on referral programs.
  317

  64
• KiiteNov 15, 2023 · 2 years ago
  One important sign to look out for is the lack of a clear roadmap or development plan. Legitimate projects usually have a well-defined roadmap that outlines their goals, milestones, and progress. If a project fails to provide a clear roadmap, it could be a warning sign of a potential scam.
  290

  49