Bitcoin rally attracts scammers and fake platforms
Fraudulent trading apps, pump-and-dump scams, and fake giveaways are on the rise in the booming crypto market.
Bitcoin’s latest rally past the $120,000 mark has triggered a fresh wave of excitement among investors, but the upward trend also brings a darker side—an increase in crypto-related scams. Rising public interest and ETF demand have led scammers to target new users on unregulated platforms.
Fraudsters are using various methods to deceive investors, including fake trading apps, phishing websites, giveaway scams, and pump-and-dump schemes. Many of these platforms appear legitimate, only to disappear when users attempt to withdraw funds.
Others mimic real exchanges or impersonate support agents to steal credentials and assets.
To avoid falling victim, investors should watch for red flags such as guaranteed returns, no visible team or contact details, lack of regulatory licences, and overly slick websites. Sticking to trusted platforms, using MFA, avoiding unknown links, and checking activity helps reduce risk.
Crypto trading remains full of potential, but education and caution are essential. Staying informed about common scams and adopting safe habits is the best way to protect investments in an evolving digital landscape.
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