What are the most common scams using Telegram in the cryptocurrency industry?

13 answers

• Jennings GadeMay 06, 2023 · 3 years ago
  Certainly! One of the most common scams in the cryptocurrency industry using Telegram is the 'giveaway scam.' Scammers impersonate well-known figures in the crypto community, such as influential traders or project founders, and claim to be giving away free cryptocurrency. They ask users to send a small amount of crypto to a specific address in order to receive a larger amount in return. However, once the victims send their crypto, they never receive anything in return. It's important to remember that legitimate giveaways are never conducted in this manner.
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• Salazar NymannMar 04, 2021 · 5 years ago
  Oh boy, where do I start? Scammers on Telegram are getting more creative by the day. Another common scam is the 'pump and dump' scheme. In this scam, scammers create groups or channels on Telegram where they artificially inflate the price of a low-volume cryptocurrency by spreading false information and encouraging others to buy. Once the price reaches a certain level, they quickly sell their own holdings, causing the price to plummet. This leaves unsuspecting investors with significant losses. Always be cautious of groups promising quick profits.
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• SUDHA JJun 28, 2025 · 9 months ago
  As an expert at BYDFi, I can tell you that one of the most common scams using Telegram in the cryptocurrency industry is the 'phishing scam.' Scammers create fake websites or impersonate legitimate cryptocurrency projects and send messages through Telegram, asking users to provide their private keys or login credentials. Once users provide this information, the scammers gain access to their wallets and steal their funds. Remember, never share your private keys or login credentials with anyone, and always verify the authenticity of websites and projects.
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• SubhinDec 13, 2025 · 4 months ago
  There are several common scams using Telegram in the cryptocurrency industry. One of them is the 'fake ICO scam.' Scammers create fake initial coin offerings (ICOs) and promote them through Telegram channels or groups. They promise high returns and convince users to invest in their fraudulent projects. Once users send their funds, the scammers disappear, leaving investors with worthless tokens. It's crucial to thoroughly research any ICO before investing and only participate in projects with a proven track record.
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• Rhey Victor MacayranJun 08, 2022 · 4 years ago
  Another scam that often occurs on Telegram in the cryptocurrency industry is the 'crypto investment scam.' Scammers pose as professional traders or investment advisors and promise guaranteed high returns on investments. They convince users to send their funds to them, claiming they will trade on their behalf. However, once the funds are sent, the scammers vanish, leaving investors with no way to recover their money. Always be skeptical of individuals or groups promising unrealistic returns.
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• Sandro RukhadzeJul 01, 2025 · 9 months ago
  One scam that you should be aware of is the 'fake airdrop scam.' Scammers create fake airdrops on Telegram, where they claim to distribute free tokens to participants. They ask users to provide their wallet addresses or even send a small amount of cryptocurrency to a specified address to be eligible for the airdrop. However, once users send their funds, the scammers disappear, and no airdrop tokens are ever received. Be cautious of airdrops and only participate in ones from reputable projects.
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• PIN PIN PINOct 19, 2021 · 4 years ago
  In the cryptocurrency industry, Telegram is unfortunately a breeding ground for scams. Another common scam is the 'crypto pyramid scheme.' Scammers create Telegram groups or channels and promise users high returns if they recruit others to join the scheme. Participants are required to invest a certain amount of cryptocurrency and are promised even higher returns when they recruit new members. However, these schemes are unsustainable and eventually collapse, leaving the majority of participants with losses. Avoid getting involved in any pyramid schemes, as they are illegal in many countries.
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• Nunez VintherAug 30, 2020 · 6 years ago
  One of the most notorious scams using Telegram in the cryptocurrency industry is the 'fake customer support scam.' Scammers create fake customer support accounts or impersonate legitimate support representatives of popular cryptocurrency exchanges. They reach out to users who have posted about issues or inquiries on social media platforms and offer assistance. However, their intention is to gain access to users' accounts and steal their funds. Always verify the authenticity of customer support accounts and never share sensitive information.
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• Hire Next.js Developers in indMay 16, 2025 · a year ago
  Scammers on Telegram are constantly evolving their tactics to deceive unsuspecting individuals in the cryptocurrency industry. Another common scam is the 'crypto mining scam.' Scammers create Telegram groups or channels where they claim to offer cloud mining services or sell mining equipment at discounted prices. However, once users send their funds, they never receive any mining services or equipment. It's important to thoroughly research any mining service or equipment provider before making any investments.
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• Thiệu TrầnAug 21, 2021 · 5 years ago
  One scam that you should be cautious of is the 'fake cryptocurrency exchange scam.' Scammers create fake cryptocurrency exchange websites and promote them through Telegram. They entice users with low fees and attractive trading features, but once users deposit their funds, the scammers disappear, and the funds are never accessible. Always ensure that you are using a reputable and secure cryptocurrency exchange before depositing any funds.
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• António BandeiraFeb 06, 2022 · 4 years ago
  A common scam using Telegram in the cryptocurrency industry is the 'fake investment fund scam.' Scammers create Telegram groups or channels where they claim to manage investment funds and promise high returns to participants. They convince users to send their funds to them, claiming they will invest on their behalf. However, the scammers simply pocket the funds and disappear. It's crucial to conduct thorough due diligence before investing in any investment fund and only trust licensed and regulated entities.
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• Criativa TecnologiaOct 16, 2022 · 3 years ago
  Another scam that occurs on Telegram in the cryptocurrency industry is the 'crypto wallet scam.' Scammers create fake cryptocurrency wallet applications and promote them through Telegram channels or groups. They convince users to download and install these wallets, claiming they offer enhanced security features. However, once users transfer their funds to these wallets, the scammers gain access to their private keys and steal their funds. Always download wallets from official sources and verify their authenticity.
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• San ANov 08, 2024 · a year ago
  One scam that you should be aware of is the 'fake celebrity endorsement scam.' Scammers create fake Telegram accounts impersonating celebrities or well-known figures in the crypto industry. They send messages to users, claiming to endorse a particular cryptocurrency or project. They convince users to invest in the endorsed cryptocurrency, but once users send their funds, the scammers disappear. Always verify the authenticity of endorsements and conduct independent research before making any investment decisions.
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