Crypto scams: how to spot them before it's too late

Cryptocurrency scams are no longer a niche phenomenon: they affect individuals, but increasingly companies too, often through their own employees. Spotting the signs early is more effective than any after-the-fact recovery.

The fake sense of urgency

Almost every crypto scam shares one ingredient: pressure to decide quickly. An investment "about to close", a wallet issue "that needs fixing right now", technical support asking for remote access to your computer. Urgency is almost always a warning sign, not an opportunity you can't afford to miss.

Returns that don't add up

The most reliable warning sign is the promise of high profits that stay the same no matter how the market moves. No serious investment works that way: markets rise and fall, and a return that stays high and steady in every situation is almost always the mark of a Ponzi scheme, where early investors are paid with money put in by newcomers — until the cycle breaks and everything collapses. The practical rule is simple: if a return seems too good to be true, it almost always is.

What companies can do

Employee training is often more effective than any technical tool: an employee who recognises a phishing attempt tied to a fake exchange platform prevents damage that no software can guarantee to block completely. That's exactly the area I work in, with training and awareness programmes designed for non-technical staff.