🕷️ Crawler Inspector

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Direct Parameter Lookup

Raw Queries and Responses

1. Shard Calculation

Query:

Response:

Calculated Shard: 87 (from laksa095)

2. Crawled Status Check

Query:

curl -X POST \
  'http://laksa087.int.ahrefs:8124/' \
  -H 'Content-Type: text/plain' \
  -H 'X-ClickHouse-Database: crawler3' \
  -H 'Authorization: Basic YXBpOg==' \
  -d 'SELECT getAhrefsURLFromUnparsed(src_unparsed) AS found_url, ifNull(toUnixTimestamp(download_stamp), 0) AS crawl_time, ifNull(toUnixTimestamp(props_url_first_seen), 0) AS first_indexed_time, download_http_code AS http_code, src_unparsed AS src_unparsed, src_root_hash AS src_root_hash, history_drop_reason AS history_drop_reason, meta_title AS meta_title, meta_descriptions AS meta_descriptions, attrs_boilerpipe_text AS attrs_boilerpipe_text, attrs_markdown AS attrs_markdown, attrs_readable_markdown AS attrs_readable_markdown, meta_canonical AS meta_canonical FROM crawler3.page_info_local FINAL PREWHERE (src_root_hash, src_unparsed) IN ((getAhrefsRootHashFromUnparsed(getAhrefsUnparsedNoserviceFromURL(\'https://moneysmart.gov.au/financial-scams/crypto-scams\')), getAhrefsUnparsedNoserviceFromURL(\'https://moneysmart.gov.au/financial-scams/crypto-scams\'))) FORMAT JSONEachRow'

Response:

{"found_url":"https:\/\/moneysmart.gov.au\/financial-scams\/crypto-scams","crawl_time":1776542333,"first_indexed_time":1693792205,"http_code":200,"src_unparsed":"au,gov,moneysmart!\/financial-scams\/crypto-scams s443","src_root_hash":"8642081752145688487","history_drop_reason":null,"meta_title":"Crypto scams - Moneysmart.gov.au","meta_descriptions":["Learn how to spot crypto scams, protect your money and report scams fast. Get tips from Moneysmart to stay safe online with crypto."],"attrs_boilerpipe_text":"Scammers target crypto-assets as they are well-known, popular and\nnot easily recovered\n.\nOn this page\nWhat is a crypto scam?\nHow crypto scams work\nHow to spot a crypto scam\nWhat to do before you invest in or send crypto\nWhat to do if you've been scammed\nWhat is a crypto scam?\nCrypto scams are schemes that try to trick you into giving up money or crypto (digital assets). Scammers use social media, apps, messages and websites that look real. If you lose money in a crypto scam, it’s usually very hard to get it back.\nArtificial intelligence (AI) is super-charging online scam threats. In 2025, ASIC coordinated the removal of 11,964 phishing and investment scam websites - an average of 32 per day. ASIC also took down more than 1,100 online investment scam advertisements on social media in 2025.\nLearn more about ASIC's work\n.\nHow crypto scams work\nCrypto-related scams can fall into these types:\nPaying scammers with crypto\nInvesting in a fake trading platform, wallet or app\nScam tokens and investment schemes\nImpersonation of a legitimate digital asset trading platform\n1. Using crypto to pay scammers\nScammers might target your emotions to get you to send crypto quickly. For example:\nExciting opportunities \n– An online romantic partner, job recruiter, or fake business asks for payment in crypto only, including buying crypto at a crypto ATM.\nGiveaway scams\n – Posts on social media offer to match or multiply crypto invested with them in a crypto giveaway scam.\nBlackmail\/extortion \n– You're told by a scammer they have your internet browsing history, compromising photos or videos. They demand payment in crypto.\nRecovery\n– You are contacted by an individual claiming to be a government or law enforcement official who alleges to either have frozen crypto belonging to you or alternatively attempting to phish for account details. See\nASIC's scam warning\nfor an example of how this might work. There have also been examples of\nscammers impersonating police\nto trick victims into transferring their cryptocurrency.\n2. Fake trading platforms, wallets or apps\nScammers build fake exchanges or wallet sites that look real. You’re invited to trade, but once you deposit crypto, they disappear with your funds. This can work in different ways:\nPhishing webpages \n– These capture the details you enter, so the scammer can log in later and steal your crypto. They may also send links via phishing emails or DMs.\nFake platforms \n– You use their platform to trade, mine crypto or to earn extra rewards. Initially, your crypto goes up in value, so you invest more. But then they lock you out, close the site and disappear with your money.\nFake trading apps\n- Scammers create fake crypto trading apps to steal your money. They may appear on legitimate online application platforms, but the giveaway is usually that they ask you to download the app from their website.\nThese platforms can then be marketed by finfluencers, who may not know that the product is a scam.\n3. Fake tokens and investment schemes\nScammers create fake crypto tokens or offer ‘exclusive’ investments to lure you in.\nScam tokens in crypto wallets\n– A mystery token appears in your crypto wallet, seemingly worth thousands. If you sell it, a 'smart contract' is activated. This transfers your legitimate crypto tokens and private keys to the scammer.\nInitial Coin Offering (ICO) and Crypto Launchpad 'rug pull' scams\n– Similar to a\npump and dump scheme\n, in a rug pull crypto scam an\n(or initial token offering, ITO) is hyped through marketing and social media, sometimes marketed as a token ‘pre-sale’. When the amount invested reaches a certain level, the scammer cashes out the coins and disappears. With the liquidity gone, the value plummets and your coins are worthless.\nCrypto ponzi scheme\n– You're promised large ‘returns’ by investing in crypto. But the promoter uses money from other investors to pay your ‘earnings’. For more on how these scams work, see\nponzi schemes\n.\n4. Digital asset trading platform impersonation\nScammers are impersonating legitimate digital currency exchanges to trick you to provide personal information and login details. Make sure you check the website address and do not click on any hyperlinks received via email or text message claiming to be from your exchange. You should never provide your password to someone else, and an exchange or platform will never ask you to share your password.\nBeen offered a job trading crypto or working for a crypto platform? Scammers use people to launder money. You may be told to set up multiple bank and crypto accounts and are paid well for a few hours of work a week. You think you're trading crypto for the entity’s ‘investors’ or ‘clients’, but you're actually money laundering for the scammers. You could be charged by state or federal police.\nHow to spot a crypto scam\nCrypto can be sent overseas quickly with limited oversight. If you lose your money to a crypto scam, your money is likely gone.\nWatch out for these potential red flags.\nUnexpected contact\nIf someone you don't know contacts you with investment advice or offers – especially via phone, email, text or social media – stop and check it carefully.\nRecommendations from someone familiar\nYou may hear about it through:\nan advertisement or fake celebrity endorsement on social media\nan online influencer\nan online romantic partner, or \nfamily and friends who have unknowingly been scammed themselves\nPressure to act fast\nIf you are told to transfer crypto right away, download a sketchy app, or pay before seeing full details, that’s a big red flag.\nPromises that sound too good to be true\nGuaranteed high returns or free crypto are typical\n \nscam\n tactics. \nIt’s\n important to remember that even with a genuine crypto investment, c\nrypto is\n \nhigh-risk and volatile\n. The value can go up or down quickly and there are no guaranteed returns.\n \nTo find out more about how scammers operate, see\ninvestment scams\n.\nWhat to do before you invest in or send crypto\nScammers are skilled at convincing people to part with their money by overpromising and using flashy marketing.\nHere are some ways to be alert to crypto scams:\nAlways question\nsocial media ads influencers and celebrity endorsements promoting crypto.\nRead websites carefully.\n Verify listed addresses or phone numbers. Look for spelling mistakes. Read the whitepaper for new coins and search for information about people involved in the project.\nBeware of requests for payment in crypto.\n It’s unlikely that any legitimate financial services firm will ask you to pay exclusively in crypto. Be wary of any recruiter, online romantic partner, or online acquaintance who asks for a crypto payment.\nBe alert if someone offers ‘high returns’ for ‘low risk’ crypto investments\n. Be wary of a promise of large instant rewards if you sign up now, or large returns over a short period of time.\nIf you're already investing in crypto:\nUse a private Wi-Fi network\n to connect to your crypto account or wallet. Scammers can intercept information sent over public Wi-Fi. If you plan to travel and use public Wi-Fi consider whether you need to access your account whilst away.\nBe careful before you interact with a token you didn't trade\n, if it suddenly appears in your wallet\nBe careful when installing browser add-ons\nor software that links your crypto holdings. There is legitimate software that performs this task, but there are also many scams that look legitimate.\nBe cautious when ‘signing’ a crypto transaction\nfrom your own digital wallet. If a signature request is not human readable (shows only numbers\/digits or raw code) do not sign it.\nBe alert and remember if something looks too good to be true, it probably is.\nWhat to do if you've been scammed\nIf you think you've been targeted by scammers, act quickly. If you suspect a scam or have lost money to one: \nStop sending money.\nContact your bank or crypto platform immediately — they may be able to help stop transactions.\nReport the scam to\nScamwatch\n— reports help authorities stop scammers.\nTell friends and family so they can protect themselves.\nFor more information, see\nwhat to do if you've been scammed\n.\nCosta's friend Pat saw a new crypto asset promoted on social media offering an annual percentage yield (APY) of 35%. Pat wanted a better return than his savings account, where he was earning 2.25% per year.\nThe post had a link to a website promising “guaranteed returns”. Charts showed the crypto asset was growing fast. There was a calculator displaying how much an investment of only $1,000 could yield, and a running tally of people who had their “interest” paid to them over the last day.\nPat invested $1,000 in the crypto asset. The site showed the value of the crypto going up over the next few days, so he invested $9,000 more. Pat suggested to Costa that he should invest too.\nBefore investing, Costa checked the crypto's white paper. He noticed spelling mistakes and couldn't find any information about the people listed in the project. There was a lot of hype online about the project and overly positive reviews. Costa also noticed an extreme price increase shortly after the crypto was founded. Because of these red flags, he decided not to invest.\nA few days later, Pat discovered the crypto asset's price had dropped to almost zero overnight. The crypto developers had withdrawn all the coins from the liquidity pool, making the investment worthless.\nPat lost his entire $10,000.","attrs_markdown":"[Skip to main content](https:\/\/moneysmart.gov.au\/financial-scams\/crypto-scams#mainContent)\n\nmenu\n\nchevron\\_left\n\n[Home](https:\/\/moneysmart.gov.au\/)\n\nsearch\n\nclose\n\n- [Banking and budgeting](https:\/\/moneysmart.gov.au\/financial-scams\/crypto-scams#banking-and-budgeting)\n  - [Banking](https:\/\/moneysmart.gov.au\/banking)\n    - [Savings accounts](https:\/\/moneysmart.gov.au\/banking\/savings-accounts)\n    - [Transaction accounts and debit cards](https:\/\/moneysmart.gov.au\/banking\/transaction-accounts-and-debit-cards)\n    - [Joint accounts](https:\/\/moneysmart.gov.au\/banking\/joint-accounts)\n    - [Direct debits](https:\/\/moneysmart.gov.au\/banking\/direct-debits)\n    - [Unauthorised and mistaken transactions](https:\/\/moneysmart.gov.au\/banking\/unauthorised-and-mistaken-transactions)\n    - [Sending money overseas](https:\/\/moneysmart.gov.au\/banking\/sending-money-overseas)\n  - 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[Timeshares](https:\/\/moneysmart.gov.au\/property-investment\/timeshares)\n    - [SMSFs and property](https:\/\/moneysmart.gov.au\/property-investment\/smsfs-and-property)\n    - [Buying an investment property](https:\/\/moneysmart.gov.au\/property-investment\/buying-an-investment-property)\n  - [Investments paying interest](https:\/\/moneysmart.gov.au\/investments-paying-interest)\n    - [Bonds](https:\/\/moneysmart.gov.au\/investments-paying-interest\/bonds)\n    - [Debentures, secured and unsecured notes](https:\/\/moneysmart.gov.au\/investments-paying-interest\/debentures-secured-and-unsecured-notes)\n    - [Hybrid securities and notes](https:\/\/moneysmart.gov.au\/investments-paying-interest\/hybrid-securities-and-notes)\n    - [Term deposits](https:\/\/moneysmart.gov.au\/investments-paying-interest\/term-deposits)\n  - [Investment warnings](https:\/\/moneysmart.gov.au\/investment-warnings)\n    - [Binary options](https:\/\/moneysmart.gov.au\/investment-warnings\/binary-options)\n    - [Company director fraud](https:\/\/moneysmart.gov.au\/investment-warnings\/company-director-fraud)\n    - [Contracts for difference (CFDs)](https:\/\/moneysmart.gov.au\/investment-warnings\/contracts-for-difference-cfds)\n    - [Crypto assets](https:\/\/moneysmart.gov.au\/investment-warnings\/crypto-assets)\n    - [Forex trading](https:\/\/moneysmart.gov.au\/investment-warnings\/forex-trading)\n    - [Investment seminars](https:\/\/moneysmart.gov.au\/investment-warnings\/investment-seminars)\n    - [Insider trading](https:\/\/moneysmart.gov.au\/investment-warnings\/insider-trading)\n    - [Land banking](https:\/\/moneysmart.gov.au\/investment-warnings\/land-banking)\n    - [Bills of exchange](https:\/\/moneysmart.gov.au\/investment-warnings\/bills-of-exchange)\n    - [Pump and dump schemes](https:\/\/moneysmart.gov.au\/investment-warnings\/pump-and-dump-schemes)\n    - [Don't get burned by investment hype](https:\/\/moneysmart.gov.au\/investment-warnings\/don-t-get-burned-by-investment-hype)\n    - [Lead generation and how it works](https:\/\/moneysmart.gov.au\/investment-warnings\/lead-generation-and-how-it-works)\n- [Super and retirement](https:\/\/moneysmart.gov.au\/financial-scams\/crypto-scams#super-and-retirement)\n  - [Retirement](https:\/\/moneysmart.gov.au\/retirement)\n    - [Case study: Lillian's health scare](https:\/\/moneysmart.gov.au\/retirement\/case-study-lillian-s-health-scare)\n    - [Case study: Bill's mortgage decision](https:\/\/moneysmart.gov.au\/retirement\/case-study-bill-s-mortgage-decision)\n    - [Case study: Helen and Joe retire](https:\/\/moneysmart.gov.au\/retirement\/case-study-helen-and-joe-retire)\n    - [Retirement for First Nations people](https:\/\/moneysmart.gov.au\/retirement\/first-nations-resources)\n    - [Campaign resources](https:\/\/moneysmart.gov.au\/retirement\/campaign-resources)\n  - [How super works](https:\/\/moneysmart.gov.au\/how-super-works)\n    - [Superannuation](https:\/\/moneysmart.gov.au\/how-super-works\/superannuation)\n    - [Choosing a super fund](https:\/\/moneysmart.gov.au\/how-super-works\/choosing-a-super-fund)\n    - [Types of super funds](https:\/\/moneysmart.gov.au\/how-super-works\/types-of-super-funds)\n    - [Self-managed super fund (SMSF)](https:\/\/moneysmart.gov.au\/how-super-works\/self-managed-super-fund-smsf)\n    - [Getting your super](https:\/\/moneysmart.gov.au\/how-super-works\/getting-your-super)\n    - [When you can access your super early](https:\/\/moneysmart.gov.au\/how-super-works\/when-you-can-access-your-super-early)\n    - [Find lost super](https:\/\/moneysmart.gov.au\/how-super-works\/find-lost-super)\n    - [Consolidating super funds](https:\/\/moneysmart.gov.au\/how-super-works\/consolidating-super-funds)\n    - [Tax and super](https:\/\/moneysmart.gov.au\/how-super-works\/tax-and-super)\n    - [Superannuation calculator](https:\/\/moneysmart.gov.au\/how-super-works\/superannuation-calculator)\n    - [Who gets your super if you die](https:\/\/moneysmart.gov.au\/how-super-works\/who-gets-your-super-if-you-die)\n    - [Claiming a super death benefit](https:\/\/moneysmart.gov.au\/how-super-works\/claiming-a-super-death-benefit)\n  - [Grow your super](https:\/\/moneysmart.gov.au\/grow-your-super)\n    - [Employer contributions calculator](https:\/\/moneysmart.gov.au\/grow-your-super\/employer-contributions-calculator)\n    - [How much super should I have](https:\/\/moneysmart.gov.au\/grow-your-super\/how-much-super-should-i-have)\n    - [Super contributions](https:\/\/moneysmart.gov.au\/grow-your-super\/super-contributions)\n    - [Downsizer super contributions](https:\/\/moneysmart.gov.au\/grow-your-super\/downsizer-super-contributions)\n    - [Super for self-employed people](https:\/\/moneysmart.gov.au\/grow-your-super\/super-for-self-employed-people)\n    - [Super investment options](https:\/\/moneysmart.gov.au\/grow-your-super\/super-investment-options)\n    - [Super contributions optimiser](https:\/\/moneysmart.gov.au\/grow-your-super\/super-contributions-optimiser)\n    - [How to check your super](https:\/\/moneysmart.gov.au\/grow-your-super\/how-to-check-your-super)\n    - [Tips to keep your retirement savings on track](https:\/\/moneysmart.gov.au\/grow-your-super\/tips-to-keep-your-retirement-savings-on-track)\n    - [Get your super working over time](https:\/\/moneysmart.gov.au\/grow-your-super\/get-your-super-working-over-time)\n  - [Plan for your retirement](https:\/\/moneysmart.gov.au\/plan-for-your-retirement)\n    - [Work out how much you need to retire](https:\/\/moneysmart.gov.au\/plan-for-your-retirement\/work-out-how-much-you-need-to-retire)\n    - [Super and pension age calculator](https:\/\/moneysmart.gov.au\/plan-for-your-retirement\/super-and-pension-age-calculator)\n    - [Make a retirement plan](https:\/\/moneysmart.gov.au\/plan-for-your-retirement\/make-a-retirement-plan)\n    - [Retirement planner](https:\/\/moneysmart.gov.au\/plan-for-your-retirement\/retirement-planner)\n    - [What happens to your super when you retire](https:\/\/moneysmart.gov.au\/plan-for-your-retirement\/what-happens-to-your-super-when-you-retire)\n    - [Managing unexpected retirement](https:\/\/moneysmart.gov.au\/plan-for-your-retirement\/managing-unexpected-retirement)\n    - [Your home in retirement](https:\/\/moneysmart.gov.au\/plan-for-your-retirement\/your-home-in-retirement)\n    - [Wills and powers of attorney](https:\/\/moneysmart.gov.au\/plan-for-your-retirement\/wills-and-powers-of-attorney)\n    - [Super and the Age Pension](https:\/\/moneysmart.gov.au\/plan-for-your-retirement\/super-and-the-age-pension)\n  - [Retirement income sources](https:\/\/moneysmart.gov.au\/retirement-income-sources)\n    - [Age Pension and government benefits](https:\/\/moneysmart.gov.au\/retirement-income-sources\/age-pension-and-government-benefits)\n    - [Account-based pensions](https:\/\/moneysmart.gov.au\/retirement-income-sources\/account-based-pensions)\n    - [Account-based pension calculator](https:\/\/moneysmart.gov.au\/retirement-income-sources\/account-based-pension-calculator)\n    - [Super lump sum](https:\/\/moneysmart.gov.au\/retirement-income-sources\/super-lump-sum)\n    - [Annuities](https:\/\/moneysmart.gov.au\/retirement-income-sources\/annuities)\n    - [Transition to retirement](https:\/\/moneysmart.gov.au\/retirement-income-sources\/transition-to-retirement)\n    - [Reverse mortgage and home equity release](https:\/\/moneysmart.gov.au\/retirement-income-sources\/reverse-mortgage-and-home-equity-release)\n    - [Reverse mortgage calculator](https:\/\/moneysmart.gov.au\/retirement-income-sources\/reverse-mortgage-calculator)\n    - [Lifetime income streams](https:\/\/moneysmart.gov.au\/retirement-income-sources\/lifetime-income-streams)\n    - [Types of retirement income](https:\/\/moneysmart.gov.au\/retirement-income-sources\/types-of-retirement-income)\n  - [Manage your money in retirement](https:\/\/moneysmart.gov.au\/manage-your-money-in-retirement)\n    - [Make your money last in retirement](https:\/\/moneysmart.gov.au\/manage-your-money-in-retirement\/make-your-money-last-in-retirement)\n    - [Retirement income and tax](https:\/\/moneysmart.gov.au\/manage-your-money-in-retirement\/retirement-income-and-tax)\n    - [Manage health costs in retirement](https:\/\/moneysmart.gov.au\/manage-your-money-in-retirement\/manage-health-costs-in-retirement)\n    - [Get help in retirement](https:\/\/moneysmart.gov.au\/manage-your-money-in-retirement\/get-help-in-retirement)\n    - [Protect your money in retirement](https:\/\/moneysmart.gov.au\/manage-your-money-in-retirement\/protect-your-money-in-retirement)\n    - [Downsizing in retirement](https:\/\/moneysmart.gov.au\/manage-your-money-in-retirement\/downsizing-in-retirement)\n    - [Aged care](https:\/\/moneysmart.gov.au\/manage-your-money-in-retirement\/aged-care)\n    - [Paying for your funeral](https:\/\/moneysmart.gov.au\/manage-your-money-in-retirement\/paying-for-your-funeral)\n    - [Memory loss, dementia and your money](https:\/\/moneysmart.gov.au\/manage-your-money-in-retirement\/memory-loss-dementia-and-your-money)\n- [Insurance](https:\/\/moneysmart.gov.au\/financial-scams\/crypto-scams#insurance)\n  - [Insurance](https:\/\/moneysmart.gov.au\/insurance)\n  - [How life insurance works](https:\/\/moneysmart.gov.au\/how-life-insurance-works)\n    - [Life insurance calculator](https:\/\/moneysmart.gov.au\/how-life-insurance-works\/life-insurance-calculator)\n    - [Income protection insurance](https:\/\/moneysmart.gov.au\/how-life-insurance-works\/income-protection-insurance)\n    - [Life cover](https:\/\/moneysmart.gov.au\/how-life-insurance-works\/life-cover)\n    - [Total and permanent disability (TPD) insurance](https:\/\/moneysmart.gov.au\/how-life-insurance-works\/total-and-permanent-disability-tpd-insurance)\n    - [Insurance through super](https:\/\/moneysmart.gov.au\/how-life-insurance-works\/insurance-through-super)\n    - [Life insurance claims comparison tool](https:\/\/moneysmart.gov.au\/how-life-insurance-works\/life-insurance-claims-comparison-tool)\n    - [Trauma insurance](https:\/\/moneysmart.gov.au\/how-life-insurance-works\/trauma-insurance)\n    - [Making a life insurance claim](https:\/\/moneysmart.gov.au\/how-life-insurance-works\/making-a-life-insurance-claim)\n  - [Car insurance](https:\/\/moneysmart.gov.au\/car-insurance)\n    - [Choosing car insurance](https:\/\/moneysmart.gov.au\/car-insurance\/choosing-car-insurance)\n    - [Claiming on your car insurance](https:\/\/moneysmart.gov.au\/car-insurance\/claiming-on-your-car-insurance)\n    - [No claim bonus on car insurance](https:\/\/moneysmart.gov.au\/car-insurance\/no-claim-bonus-on-car-insurance)\n    - [Add-on car insurance](https:\/\/moneysmart.gov.au\/car-insurance\/add-on-car-insurance)\n  - [Home insurance](https:\/\/moneysmart.gov.au\/home-insurance)\n    - [Choosing home insurance](https:\/\/moneysmart.gov.au\/home-insurance\/choosing-home-insurance)\n    - [Contents insurance](https:\/\/moneysmart.gov.au\/home-insurance\/contents-insurance)\n    - [Storm, flood and fire insurance](https:\/\/moneysmart.gov.au\/home-insurance\/storm-flood-and-fire-insurance)\n    - [How to make a home insurance claim](https:\/\/moneysmart.gov.au\/home-insurance\/how-to-make-a-home-insurance-claim)\n    - [Underinsurance: What it is and how to avoid it](https:\/\/moneysmart.gov.au\/home-insurance\/underinsurance-what-it-is-and-how-to-avoid-it)\n  - [Add-on insurance](https:\/\/moneysmart.gov.au\/add-on-insurance)\n    - [Mobile phone, tablet and laptop insurance](https:\/\/moneysmart.gov.au\/add-on-insurance\/mobile-phone-tablet-and-laptop-insurance)\n    - [Consumer credit insurance](https:\/\/moneysmart.gov.au\/add-on-insurance\/consumer-credit-insurance)\n    - [Pet insurance](https:\/\/moneysmart.gov.au\/add-on-insurance\/pet-insurance)\n  - [Other types of insurance](https:\/\/moneysmart.gov.au\/other-types-of-insurance)\n    - [Health insurance](https:\/\/moneysmart.gov.au\/other-types-of-insurance\/health-insurance)\n    - [Funeral insurance](https:\/\/moneysmart.gov.au\/other-types-of-insurance\/funeral-insurance)\n    - [Travel insurance](https:\/\/moneysmart.gov.au\/other-types-of-insurance\/travel-insurance)\n  - [Dealing with natural disasters](https:\/\/moneysmart.gov.au\/dealing-with-natural-disasters)\n    - [Preparing for a natural disaster](https:\/\/moneysmart.gov.au\/dealing-with-natural-disasters\/preparing-for-a-natural-disaster)\n    - [What to do after a natural disaster](https:\/\/moneysmart.gov.au\/dealing-with-natural-disasters\/what-to-do-after-a-natural-disaster)\n    - [Recovering from a natural disaster](https:\/\/moneysmart.gov.au\/dealing-with-natural-disasters\/recovering-from-a-natural-disaster)\n    - [Be aware of disaster chasers](https:\/\/moneysmart.gov.au\/dealing-with-natural-disasters\/be-aware-of-disaster-chasers)\n- [Scams and online safety](https:\/\/moneysmart.gov.au\/financial-scams\/crypto-scams#scams)\n  - [Online safety](https:\/\/moneysmart.gov.au\/online-safety)\n    - [Protect yourself from scams](https:\/\/moneysmart.gov.au\/online-safety\/protect-yourself-from-scams)\n    - [Online shopping](https:\/\/moneysmart.gov.au\/online-safety\/online-shopping)\n    - [Identity theft](https:\/\/moneysmart.gov.au\/online-safety\/identity-theft)\n    - [Using comparison websites](https:\/\/moneysmart.gov.au\/online-safety\/using-comparison-websites)\n    - [How to spot a scam website](https:\/\/moneysmart.gov.au\/online-safety\/how-to-spot-a-scam-website)\n    - [AI and money decisions](https:\/\/moneysmart.gov.au\/online-safety\/ai-and-money-decisions)\n  - [Financial scams](https:\/\/moneysmart.gov.au\/financial-scams)\n    - [Banking and credit scams](https:\/\/moneysmart.gov.au\/financial-scams\/banking-and-credit-scams)\n    - [Crypto scams](https:\/\/moneysmart.gov.au\/financial-scams\/crypto-scams)\n    - [Imposter bond investment scams](https:\/\/moneysmart.gov.au\/financial-scams\/imposter-bond-investment-scams)\n    - [Investment scams](https:\/\/moneysmart.gov.au\/financial-scams\/investment-scams)\n    - [Ponzi schemes](https:\/\/moneysmart.gov.au\/financial-scams\/ponzi-schemes)\n    - [Superannuation scams](https:\/\/moneysmart.gov.au\/financial-scams\/superannuation-scams)\n  - [Check and report scams](https:\/\/moneysmart.gov.au\/check-and-report-scams)\n    - [Report an investment scam](https:\/\/moneysmart.gov.au\/check-and-report-scams\/report-an-investment-scam)\n    - [Check before you invest](https:\/\/moneysmart.gov.au\/check-and-report-scams\/check-before-you-invest)\n    - [Investor alert list](https:\/\/moneysmart.gov.au\/check-and-report-scams\/investor-alert-list)\n    - [What to do if you've been scammed](https:\/\/moneysmart.gov.au\/check-and-report-scams\/what-to-do-if-you-ve-been-scammed)\n- [Community resources](https:\/\/moneysmart.gov.au\/financial-scams\/crypto-scams#community)\n  - [Find unclaimed money](https:\/\/moneysmart.gov.au\/find-unclaimed-money)\n    - [Claim money from bank accounts and bank dividends](https:\/\/moneysmart.gov.au\/find-unclaimed-money\/claim-money-from-bank-accounts-and-bank-dividends)\n    - [Claim money from life insurance policies](https:\/\/moneysmart.gov.au\/find-unclaimed-money\/claim-money-from-life-insurance-policies)\n    - [Claim money from shares and investments](https:\/\/moneysmart.gov.au\/find-unclaimed-money\/claim-money-from-shares-and-investments)\n    - [Claim money owed to a deregistered company](https:\/\/moneysmart.gov.au\/find-unclaimed-money\/claim-money-owed-to-a-deregistered-company)\n    - [Proof of ownership for unclaimed money](https:\/\/moneysmart.gov.au\/find-unclaimed-money\/proof-of-ownership-for-unclaimed-money)\n    - [Money held by state governments](https:\/\/moneysmart.gov.au\/find-unclaimed-money\/money-held-by-state-governments)\n    - [Interest paid on unclaimed money](https:\/\/moneysmart.gov.au\/find-unclaimed-money\/interest-paid-on-unclaimed-money)\n  - [Moneysmart for teachers](https:\/\/moneysmart.gov.au\/teaching)\n    - [Lesson plans](https:\/\/moneysmart.gov.au\/teaching\/lesson-plans)\n    - [Teaching consumer and financial literacy](https:\/\/moneysmart.gov.au\/teaching\/teaching-consumer-and-financial-literacy)\n  - [Student life and money](https:\/\/moneysmart.gov.au\/student-life-and-money)\n    - [Studying](https:\/\/moneysmart.gov.au\/student-life-and-money\/studying)\n    - [Moving out of home](https:\/\/moneysmart.gov.au\/student-life-and-money\/moving-out-of-home)\n    - [Rental bonds and leases](https:\/\/moneysmart.gov.au\/student-life-and-money\/rental-bonds-and-leases)\n    - [Getting a job](https:\/\/moneysmart.gov.au\/student-life-and-money\/getting-a-job)\n    - [Credit and debt](https:\/\/moneysmart.gov.au\/student-life-and-money\/credit-and-debt)\n    - [Choosing a mobile phone plan](https:\/\/moneysmart.gov.au\/student-life-and-money\/choosing-a-mobile-phone-plan)\n    - [Buying and running a car](https:\/\/moneysmart.gov.au\/student-life-and-money\/buying-and-running-a-car)\n  - [Publications and resources](https:\/\/moneysmart.gov.au\/publications-and-resources)\n    - [Publications](https:\/\/moneysmart.gov.au\/publications-and-resources\/publications)\n    - [Money tips in other languages](https:\/\/moneysmart.gov.au\/publications-and-resources\/money-tips-in-other-languages)\n    - [How to complain](https:\/\/moneysmart.gov.au\/publications-and-resources\/how-to-complain)\n  - [Supporting First Nations people with money matters](https:\/\/moneysmart.gov.au\/supporting-first-nations-people-with-money-matters)\n    - [Book up](https:\/\/moneysmart.gov.au\/supporting-first-nations-people-with-money-matters\/book-up)\n    - [Dealing with family pressure about money](https:\/\/moneysmart.gov.au\/supporting-first-nations-people-with-money-matters\/dealing-with-family-pressure-about-money)\n    - [Door-to-door sales](https:\/\/moneysmart.gov.au\/supporting-first-nations-people-with-money-matters\/door-to-door-sales)\n    - [Managing large sums of money](https:\/\/moneysmart.gov.au\/supporting-first-nations-people-with-money-matters\/managing-large-sums-of-money)\n    - [Paying for funerals](https:\/\/moneysmart.gov.au\/supporting-first-nations-people-with-money-matters\/paying-for-funerals)\n    - [Buying a hamper](https:\/\/moneysmart.gov.au\/supporting-first-nations-people-with-money-matters\/buying-a-hamper)\n    - [Superannuation](https:\/\/moneysmart.gov.au\/supporting-first-nations-people-with-money-matters\/superannuation)\n    - [How to prove your identity](https:\/\/moneysmart.gov.au\/supporting-first-nations-people-with-money-matters\/how-to-prove-your-identity)\n    - [Bank accounts](https:\/\/moneysmart.gov.au\/supporting-first-nations-people-with-money-matters\/bank-accounts)\n    - [Cash loans](https:\/\/moneysmart.gov.au\/supporting-first-nations-people-with-money-matters\/cash-loans)\n    - [How insurance works](https:\/\/moneysmart.gov.au\/supporting-first-nations-people-with-money-matters\/how-insurance-works)\n    - [How to choose insurance](https:\/\/moneysmart.gov.au\/supporting-first-nations-people-with-money-matters\/how-to-choose-insurance)\n    - [Making an insurance claim](https:\/\/moneysmart.gov.au\/supporting-first-nations-people-with-money-matters\/making-an-insurance-claim)\n    - [First Nations services that can help](https:\/\/moneysmart.gov.au\/supporting-first-nations-people-with-money-matters\/first-nations-services-that-can-help)\n\n- [About us](https:\/\/moneysmart.gov.au\/about-us)\n- [Contact us](https:\/\/moneysmart.gov.au\/contact-us)\n- [Glossary](https:\/\/moneysmart.gov.au\/glossary)\n- [Media centre](https:\/\/moneysmart.gov.au\/media-centre)\n\n- [Like MoneySmart on Facebook](https:\/\/www.facebook.com\/MoneySmartAu \"Like MoneySmart on Facebook\")\n- [Subscribe to MoneySmart on Youtube](https:\/\/www.youtube.com\/user\/MoneySmartAu \"Subscribe to MoneySmart on Youtube\")\n- [Follow MoneySmart on Instagram](https:\/\/www.instagram.com\/moneysmartau\/ \"Follow MoneySmart on Instagram\")\n\n![Australian Government crest](https:\/\/static.moneysmart.gov.au\/nextgen\/img\/image-placeholder.gif)\n\n# Crypto scams\nScammers target crypto-assets as they are well-known, popular and  not easily recovered.\n\n- On this page\n- [What is a crypto scam?](https:\/\/moneysmart.gov.au\/financial-scams\/crypto-scams#what-is-a-crypto-scam? \"What is a crypto scam?\")\n- [How crypto scams work](https:\/\/moneysmart.gov.au\/financial-scams\/crypto-scams#how-crypto-scams-work \"How crypto scams work\")\n- [How to spot a crypto scam](https:\/\/moneysmart.gov.au\/financial-scams\/crypto-scams#how-to-spot-a-crypto-scam \"How to spot a crypto scam\")\n- [What to do before you invest in or send crypto](https:\/\/moneysmart.gov.au\/financial-scams\/crypto-scams#what-to-do-before-you-invest-in-or-send-crypto \"What to do before you invest in or send crypto\")\n- [What to do if you've been scammed](https:\/\/moneysmart.gov.au\/financial-scams\/crypto-scams#what-to-do-if-you've-been-scammed \"What to do if you've been scammed\")\n## What is a crypto scam?\nCrypto scams are schemes that try to trick you into giving up money or crypto (digital assets). Scammers use social media, apps, messages and websites that look real. If you lose money in a crypto scam, it’s usually very hard to get it back.\n\nArtificial intelligence (AI) is super-charging online scam threats. In 2025, ASIC coordinated the removal of 11,964 phishing and investment scam websites - an average of 32 per day. ASIC also took down more than 1,100 online investment scam advertisements on social media in 2025. [Learn more about ASIC's work](https:\/\/www.asic.gov.au\/about-asic\/news-centre\/find-a-media-release\/2026-releases\/26-063mr-asic-ramps-up-action-to-protect-consumers-from-ai-powered-online-investment-scams\/ \"ASIC media release\").\n\n## How crypto scams work\nCrypto-related scams can fall into these types:\n\n1. Paying scammers with crypto\n2. Investing in a fake trading platform, wallet or app\n3. Scam tokens and investment schemes\n4. Impersonation of a legitimate digital asset trading platform\n### 1\\. Using crypto to pay scammers\nScammers might target your emotions to get you to send crypto quickly. For example:\n\n- **Exciting opportunities** – An online romantic partner, job recruiter, or fake business asks for payment in crypto only, including buying crypto at a crypto ATM.\n- **Giveaway scams** – Posts on social media offer to match or multiply crypto invested with them in a crypto giveaway scam.\n- **Blackmail\/extortion** – You're told by a scammer they have your internet browsing history, compromising photos or videos. They demand payment in crypto.\n- **Recovery** – You are contacted by an individual claiming to be a government or law enforcement official who alleges to either have frozen crypto belonging to you or alternatively attempting to phish for account details. See [ASIC's scam warning](https:\/\/www.asic.gov.au\/about-asic\/news-centre\/news-items\/scam-alert-beware-scammers-impersonating-asic-requesting-payments-to-release-funds-or-assets\/ \"ASIC's scam warning\") for an example of how this might work. There have also been examples of [scammers impersonating police](https:\/\/www.cyber.gov.au\/about-us\/view-all-content\/alerts-and-advisories\/scammers-impersonating-police-to-target-victims-for-cryptocurrencyseed-wallet-theft \"Australian Signals Directorate media release\") to trick victims into transferring their cryptocurrency.\n### 2\\. Fake trading platforms, wallets or apps\nScammers build fake exchanges or wallet sites that look real. You’re invited to trade, but once you deposit crypto, they disappear with your funds. This can work in different ways:\n\n- **Phishing webpages** – These capture the details you enter, so the scammer can log in later and steal your crypto. They may also send links via phishing emails or DMs.\n- **Fake platforms** – You use their platform to trade, mine crypto or to earn extra rewards. Initially, your crypto goes up in value, so you invest more. But then they lock you out, close the site and disappear with your money.\n- **Fake trading apps** - Scammers create fake crypto trading apps to steal your money. They may appear on legitimate online application platforms, but the giveaway is usually that they ask you to download the app from their website.\n\nThese platforms can then be marketed by finfluencers, who may not know that the product is a scam.\n\n### 3\\. Fake tokens and investment schemes\nScammers create fake crypto tokens or offer ‘exclusive’ investments to lure you in.\n\n- **Scam tokens in crypto wallets** – A mystery token appears in your crypto wallet, seemingly worth thousands. If you sell it, a 'smart contract' is activated. This transfers your legitimate crypto tokens and private keys to the scammer.\n- **Initial Coin Offering (ICO) and Crypto Launchpad 'rug pull' scams** – Similar to a [pump and dump scheme](https:\/\/moneysmart.gov.au\/investment-warnings\/pump-and-dump-schemes \"Pump and dump schemes\"), in a rug pull crypto scam an\n  ICO\n  \n  An ICO is a way a project can raise money over the internet. You invest in an ICO by sending money or crypto assets to a blockchain project. In return, you receive digital tokens related to that project.\n  (or initial token offering, ITO) is hyped through marketing and social media, sometimes marketed as a token ‘pre-sale’. When the amount invested reaches a certain level, the scammer cashes out the coins and disappears. With the liquidity gone, the value plummets and your coins are worthless.\n- **Crypto ponzi scheme** – You're promised large ‘returns’ by investing in crypto. But the promoter uses money from other investors to pay your ‘earnings’. For more on how these scams work, see [ponzi schemes](https:\/\/moneysmart.gov.au\/financial-scams\/ponzi-schemes \"Ponzi schemes\").\n### 4\\. Digital asset trading platform impersonation\nScammers are impersonating legitimate digital currency exchanges to trick you to provide personal information and login details. Make sure you check the website address and do not click on any hyperlinks received via email or text message claiming to be from your exchange. You should never provide your password to someone else, and an exchange or platform will never ask you to share your password.\n\nBeen offered a job trading crypto or working for a crypto platform? Scammers use people to launder money. You may be told to set up multiple bank and crypto accounts and are paid well for a few hours of work a week. You think you're trading crypto for the entity’s ‘investors’ or ‘clients’, but you're actually money laundering for the scammers. You could be charged by state or federal police.\n\n## How to spot a crypto scam\nCrypto can be sent overseas quickly with limited oversight. If you lose your money to a crypto scam, your money is likely gone.\n\nWatch out for these potential red flags.\n\n### Unexpected contact\nIf someone you don't know contacts you with investment advice or offers – especially via phone, email, text or social media – stop and check it carefully.\n\n### Recommendations from someone familiar\nYou may hear about it through:\n\n- an advertisement or fake celebrity endorsement on social media\n- an online influencer\n- an online romantic partner, or\n- family and friends who have unknowingly been scammed themselves\n\nPressure to act fast\n\nIf you are told to transfer crypto right away, download a sketchy app, or pay before seeing full details, that’s a big red flag.\n\n### Promises that sound too good to be true\nGuaranteed high returns or free crypto are typical scam tactics. It’s important to remember that even with a genuine crypto investment, crypto is [high-risk and volatile](https:\/\/moneysmart.gov.au\/investment-warnings\/crypto-assets). The value can go up or down quickly and there are no guaranteed returns.\n\nTo find out more about how scammers operate, see [investment scams](https:\/\/moneysmart.gov.au\/financial-scams\/investment-scams \"Investment scams\").\n\n## What to do before you invest in or send crypto\nScammers are skilled at convincing people to part with their money by overpromising and using flashy marketing.\n\nHere are some ways to be alert to crypto scams:\n\n- **Always question** social media ads influencers and celebrity endorsements promoting crypto.\n- **Read websites carefully.** Verify listed addresses or phone numbers. Look for spelling mistakes. Read the whitepaper for new coins and search for information about people involved in the project.\n- **Beware of requests for payment in crypto.** It’s unlikely that any legitimate financial services firm will ask you to pay exclusively in crypto. Be wary of any recruiter, online romantic partner, or online acquaintance who asks for a crypto payment.\n- **Be alert if someone offers ‘high returns’ for ‘low risk’ crypto investments**. Be wary of a promise of large instant rewards if you sign up now, or large returns over a short period of time.\n- If you're already investing in crypto:\n- **Use a private Wi-Fi network** to connect to your crypto account or wallet. Scammers can intercept information sent over public Wi-Fi. If you plan to travel and use public Wi-Fi consider whether you need to access your account whilst away.\n- **Be careful before you interact with a token you didn't trade**, if it suddenly appears in your wallet\n- **Be careful when installing browser add-ons** or software that links your crypto holdings. There is legitimate software that performs this task, but there are also many scams that look legitimate.\n- **Be cautious when ‘signing’ a crypto transaction** from your own digital wallet. If a signature request is not human readable (shows only numbers\/digits or raw code) do not sign it.\n\nBe alert and remember if something looks too good to be true, it probably is.\n\n## What to do if you've been scammed\nIf you think you've been targeted by scammers, act quickly. If you suspect a scam or have lost money to one:\n\n- Stop sending money.\n- Contact your bank or crypto platform immediately — they may be able to help stop transactions.\n- Report the scam to [Scamwatch](https:\/\/www.scamwatch.gov.au\/report-a-scam \"Scamwatch report a scam\") — reports help authorities stop scammers.\n- Tell friends and family so they can protect themselves.\n\nFor more information, see [what to do if you've been scammed](https:\/\/moneysmart.gov.au\/check-and-report-scams\/what-to-do-if-you-ve-been-scammed \"What to do if you've been scammed\").\n\nCosta's friend Pat saw a new crypto asset promoted on social media offering an annual percentage yield (APY) of 35%. Pat wanted a better return than his savings account, where he was earning 2.25% per year.\n\nThe post had a link to a website promising “guaranteed returns”. Charts showed the crypto asset was growing fast. There was a calculator displaying how much an investment of only \\$1,000 could yield, and a running tally of people who had their “interest” paid to them over the last day.\n\nPat invested \\$1,000 in the crypto asset. The site showed the value of the crypto going up over the next few days, so he invested \\$9,000 more. Pat suggested to Costa that he should invest too.\n\nBefore investing, Costa checked the crypto's white paper. He noticed spelling mistakes and couldn't find any information about the people listed in the project. There was a lot of hype online about the project and overly positive reviews. Costa also noticed an extreme price increase shortly after the crypto was founded. Because of these red flags, he decided not to invest.\n\nA few days later, Pat discovered the crypto asset's price had dropped to almost zero overnight. The crypto developers had withdrawn all the coins from the liquidity pool, making the investment worthless.\n\nPat lost his entire \\$10,000.\n\n[1What is a crypto scam?](https:\/\/moneysmart.gov.au\/financial-scams\/crypto-scams#what-is-a-crypto-scam?)\n\n[2How crypto scams work](https:\/\/moneysmart.gov.au\/financial-scams\/crypto-scams#how-crypto-scams-work)\n\n[3How to spot a crypto scam](https:\/\/moneysmart.gov.au\/financial-scams\/crypto-scams#how-to-spot-a-crypto-scam)\n\n[4What to do before you invest in or send crypto](https:\/\/moneysmart.gov.au\/financial-scams\/crypto-scams#what-to-do-before-you-invest-in-or-send-crypto)\n\n[5What to do if you've been scammed](https:\/\/moneysmart.gov.au\/financial-scams\/crypto-scams#what-to-do-if-you've-been-scammed)\n\nDo you find this page useful?\n\nYes\n\nNo\n\nWhy?\n\nIt had the information I was looking for\n\nThe page makes sense\n\nThe information is balanced and unbiased\n\nThe information gave me a sense of what to do next\n\nSubmit\n\nAny other feedback\n\nWhy not?\n\nIt didn't have the information I was looking for\n\nThe page was confusing\n\nThe information overwhelmed me\n\nThere wasn't enough information for me to take action\n\nSubmit\n\nAny other feedback\n\nYour feedback\n\nYour feedback relates to:\n\nYou would like to:\n\nYour issue is:\n\n- **Calculator disclaimers and assumptions** can be found under each calculator. Refer to these for more detailed information about how a specific calculator works.\n- **Calculator frequently asked questions** can be found under most calculators. Refer to these for more information.\n\nThe links below provide more information on complaints and reporting scams:\n\n- [Complain about a financial product or service](https:\/\/moneysmart.gov.au\/how-to-complain \"How to complain\")\n- [Report a scam](https:\/\/moneysmart.gov.au\/check-and-report-scams\/what-to-do-if-you-ve-been-scammed \"Report a scam\")\n- [Report misconduct to ASIC](https:\/\/asic.gov.au\/about-asic\/contact-us\/how-to-complain\/ \"ASIC - how to complain\")\n\nWe don't lend money, arrange loans or provide personal financial advice.\n\nIf you are experiencing difficulties with money, the following pages can help:\n\n- [Urgent help with money](https:\/\/moneysmart.gov.au\/managing-debt\/urgent-help-with-money \"Urgent help with money\")\n- [No or low interest loans](https:\/\/moneysmart.gov.au\/loans\/no-interest-loans \"No or low interest loans\")\n- [Problems paying your bills or fines](https:\/\/moneysmart.gov.au\/managing-debt\/problems-paying-your-bills-and-fines \"Problems paying your bills and fines\")\n- [Problems paying your mortgage](https:\/\/moneysmart.gov.au\/home-loans\/problems-paying-your-mortgage \"Problems paying your mortgage\")\n- [Find a financial counsellor](https:\/\/moneysmart.gov.au\/managing-debt\/financial-counselling \"Financial counselling\")\n\nSummary of your feedback:\n\nYour comments:\n\nThe page\/calculator\/app you are referring to (eg. cut\/paste URL):\n\nCancel\n\nSend feedback\n\n## Up next in Financial scams\narrow\\_backMove left\n\narrow\\_forwardMove right\n\n- [Banking and credit scams If someone asks for your details or offers a loan, it may be a scam 5 min read](https:\/\/moneysmart.gov.au\/financial-scams\/banking-and-credit-scams)\n- [Imposter bond investment scams Scammers may pose as financial companies and offer fake 'low-risk' investments, like bonds or fixed term deposits 5 min read](https:\/\/moneysmart.gov.au\/financial-scams\/imposter-bond-investment-scams)\n- [Investment scams Be suspicious of anyone offering you easy money. There's always a catch 5 min read](https:\/\/moneysmart.gov.au\/financial-scams\/investment-scams)\n- [Ponzi schemes Ponzi schemes are investment scams or fraud that pay existing investors with funds collected from new investors 3 min read](https:\/\/moneysmart.gov.au\/financial-scams\/ponzi-schemes)\n- [Superannuation scams If someone offers to help you get your super early, it could be a scam 5 min read](https:\/\/moneysmart.gov.au\/financial-scams\/superannuation-scams)\n\n- ![](https:\/\/download.asic.gov.au\/asic-nextgen\/img\/djooroot_moort_perterfarmer_artwork.png)\n  \n  Djooroot Moort by  \n  Peter Farmer\n  \n  Acknowledgement of Country\n  \n  ASIC acknowledges the Traditional Owners of the lands and waters on which we live and work. We pay respect to Elders past and present as the custodians of the world's oldest continuing cultures.\n\n- Moneysmart\n- [About us](https:\/\/moneysmart.gov.au\/about-us \"About us\")\n- [Contact us](https:\/\/moneysmart.gov.au\/contact-us \"Contact us\")\n- [Glossary](https:\/\/moneysmart.gov.au\/glossary \"Glossary\")\n- [Media centre](https:\/\/moneysmart.gov.au\/media-centre \"Media centre\")\n- [Subscribe](https:\/\/moneysmart.gov.au\/subscribe-to-our-newsletter \"Subscribe\")\n\n- Social\n- [Instagram](https:\/\/www.instagram.com\/moneysmartau\/ \"Follow MoneySmart on Instagram\")\n- [Facebook](https:\/\/www.facebook.com\/MoneySmartAu \"Like MoneySmart on Facebook\")\n- [Youtube](https:\/\/www.youtube.com\/user\/MoneySmartAu \"Subscribe to MoneySmart on Youtube\")\n\nsearch\n\nPopular content\n\n[Find unclaimed money](https:\/\/moneysmart.gov.au\/find-unclaimed-money)\n\n[Mortgage calculator](https:\/\/moneysmart.gov.au\/home-loans\/mortgage-calculator)\n\n[Budget planner](https:\/\/moneysmart.gov.au\/budgeting\/budget-planner)\n\n[How super works](https:\/\/moneysmart.gov.au\/how-super-works)\n\n[Banking and credit scams](https:\/\/moneysmart.gov.au\/banking\/banking-and-credit-scams)\n\n[How to invest](https:\/\/moneysmart.gov.au\/how-to-invest)\n\n[Financial advisers register](https:\/\/moneysmart.gov.au\/financial-advice\/financial-advisers-register)\n\nRecently visited","attrs_readable_markdown":"Scammers target crypto-assets as they are well-known, popular and  not easily recovered.\n\n- On this page\n- [What is a crypto scam?](https:\/\/moneysmart.gov.au\/financial-scams\/crypto-scams#what-is-a-crypto-scam? \"What is a crypto scam?\")\n- [How crypto scams work](https:\/\/moneysmart.gov.au\/financial-scams\/crypto-scams#how-crypto-scams-work \"How crypto scams work\")\n- [How to spot a crypto scam](https:\/\/moneysmart.gov.au\/financial-scams\/crypto-scams#how-to-spot-a-crypto-scam \"How to spot a crypto scam\")\n- [What to do before you invest in or send crypto](https:\/\/moneysmart.gov.au\/financial-scams\/crypto-scams#what-to-do-before-you-invest-in-or-send-crypto \"What to do before you invest in or send crypto\")\n- [What to do if you've been scammed](https:\/\/moneysmart.gov.au\/financial-scams\/crypto-scams#what-to-do-if-you've-been-scammed \"What to do if you've been scammed\")\n## What is a crypto scam?\nCrypto scams are schemes that try to trick you into giving up money or crypto (digital assets). Scammers use social media, apps, messages and websites that look real. If you lose money in a crypto scam, it’s usually very hard to get it back.\n\nArtificial intelligence (AI) is super-charging online scam threats. In 2025, ASIC coordinated the removal of 11,964 phishing and investment scam websites - an average of 32 per day. ASIC also took down more than 1,100 online investment scam advertisements on social media in 2025. [Learn more about ASIC's work](https:\/\/www.asic.gov.au\/about-asic\/news-centre\/find-a-media-release\/2026-releases\/26-063mr-asic-ramps-up-action-to-protect-consumers-from-ai-powered-online-investment-scams\/ \"ASIC media release\").\n\n## How crypto scams work\nCrypto-related scams can fall into these types:\n\n1. Paying scammers with crypto\n2. Investing in a fake trading platform, wallet or app\n3. Scam tokens and investment schemes\n4. Impersonation of a legitimate digital asset trading platform\n### 1\\. Using crypto to pay scammers\nScammers might target your emotions to get you to send crypto quickly. For example:\n\n- **Exciting opportunities** – An online romantic partner, job recruiter, or fake business asks for payment in crypto only, including buying crypto at a crypto ATM.\n- **Giveaway scams** – Posts on social media offer to match or multiply crypto invested with them in a crypto giveaway scam.\n- **Blackmail\/extortion** – You're told by a scammer they have your internet browsing history, compromising photos or videos. They demand payment in crypto.\n- **Recovery** – You are contacted by an individual claiming to be a government or law enforcement official who alleges to either have frozen crypto belonging to you or alternatively attempting to phish for account details. See [ASIC's scam warning](https:\/\/www.asic.gov.au\/about-asic\/news-centre\/news-items\/scam-alert-beware-scammers-impersonating-asic-requesting-payments-to-release-funds-or-assets\/ \"ASIC's scam warning\") for an example of how this might work. There have also been examples of [scammers impersonating police](https:\/\/www.cyber.gov.au\/about-us\/view-all-content\/alerts-and-advisories\/scammers-impersonating-police-to-target-victims-for-cryptocurrencyseed-wallet-theft \"Australian Signals Directorate media release\") to trick victims into transferring their cryptocurrency.\n### 2\\. Fake trading platforms, wallets or apps\nScammers build fake exchanges or wallet sites that look real. You’re invited to trade, but once you deposit crypto, they disappear with your funds. This can work in different ways:\n\n- **Phishing webpages** – These capture the details you enter, so the scammer can log in later and steal your crypto. They may also send links via phishing emails or DMs.\n- **Fake platforms** – You use their platform to trade, mine crypto or to earn extra rewards. Initially, your crypto goes up in value, so you invest more. But then they lock you out, close the site and disappear with your money.\n- **Fake trading apps** - Scammers create fake crypto trading apps to steal your money. They may appear on legitimate online application platforms, but the giveaway is usually that they ask you to download the app from their website.\n\nThese platforms can then be marketed by finfluencers, who may not know that the product is a scam.\n\n### 3\\. Fake tokens and investment schemes\nScammers create fake crypto tokens or offer ‘exclusive’ investments to lure you in.\n\n- **Scam tokens in crypto wallets** – A mystery token appears in your crypto wallet, seemingly worth thousands. If you sell it, a 'smart contract' is activated. This transfers your legitimate crypto tokens and private keys to the scammer.\n- **Initial Coin Offering (ICO) and Crypto Launchpad 'rug pull' scams** – Similar to a [pump and dump scheme](https:\/\/moneysmart.gov.au\/investment-warnings\/pump-and-dump-schemes \"Pump and dump schemes\"), in a rug pull crypto scam an  (or initial token offering, ITO) is hyped through marketing and social media, sometimes marketed as a token ‘pre-sale’. When the amount invested reaches a certain level, the scammer cashes out the coins and disappears. With the liquidity gone, the value plummets and your coins are worthless.\n- **Crypto ponzi scheme** – You're promised large ‘returns’ by investing in crypto. But the promoter uses money from other investors to pay your ‘earnings’. For more on how these scams work, see [ponzi schemes](https:\/\/moneysmart.gov.au\/financial-scams\/ponzi-schemes \"Ponzi schemes\").\n### 4\\. Digital asset trading platform impersonation\nScammers are impersonating legitimate digital currency exchanges to trick you to provide personal information and login details. Make sure you check the website address and do not click on any hyperlinks received via email or text message claiming to be from your exchange. You should never provide your password to someone else, and an exchange or platform will never ask you to share your password.\n\nBeen offered a job trading crypto or working for a crypto platform? Scammers use people to launder money. You may be told to set up multiple bank and crypto accounts and are paid well for a few hours of work a week. You think you're trading crypto for the entity’s ‘investors’ or ‘clients’, but you're actually money laundering for the scammers. You could be charged by state or federal police.\n\n## How to spot a crypto scam\nCrypto can be sent overseas quickly with limited oversight. If you lose your money to a crypto scam, your money is likely gone.\n\nWatch out for these potential red flags.\n\n### Unexpected contact\nIf someone you don't know contacts you with investment advice or offers – especially via phone, email, text or social media – stop and check it carefully.\n\n### Recommendations from someone familiar\nYou may hear about it through:\n\n- an advertisement or fake celebrity endorsement on social media\n- an online influencer\n- an online romantic partner, or\n- family and friends who have unknowingly been scammed themselves\n\nPressure to act fast\n\nIf you are told to transfer crypto right away, download a sketchy app, or pay before seeing full details, that’s a big red flag.\n\n### Promises that sound too good to be true\nGuaranteed high returns or free crypto are typical scam tactics. It’s important to remember that even with a genuine crypto investment, crypto is [high-risk and volatile](https:\/\/moneysmart.gov.au\/investment-warnings\/crypto-assets). The value can go up or down quickly and there are no guaranteed returns.\n\nTo find out more about how scammers operate, see [investment scams](https:\/\/moneysmart.gov.au\/financial-scams\/investment-scams \"Investment scams\").\n\n## What to do before you invest in or send crypto\nScammers are skilled at convincing people to part with their money by overpromising and using flashy marketing.\n\nHere are some ways to be alert to crypto scams:\n\n- **Always question** social media ads influencers and celebrity endorsements promoting crypto.\n- **Read websites carefully.** Verify listed addresses or phone numbers. Look for spelling mistakes. Read the whitepaper for new coins and search for information about people involved in the project.\n- **Beware of requests for payment in crypto.** It’s unlikely that any legitimate financial services firm will ask you to pay exclusively in crypto. Be wary of any recruiter, online romantic partner, or online acquaintance who asks for a crypto payment.\n- **Be alert if someone offers ‘high returns’ for ‘low risk’ crypto investments**. Be wary of a promise of large instant rewards if you sign up now, or large returns over a short period of time.\n- If you're already investing in crypto:\n- **Use a private Wi-Fi network** to connect to your crypto account or wallet. Scammers can intercept information sent over public Wi-Fi. If you plan to travel and use public Wi-Fi consider whether you need to access your account whilst away.\n- **Be careful before you interact with a token you didn't trade**, if it suddenly appears in your wallet\n- **Be careful when installing browser add-ons** or software that links your crypto holdings. There is legitimate software that performs this task, but there are also many scams that look legitimate.\n- **Be cautious when ‘signing’ a crypto transaction** from your own digital wallet. If a signature request is not human readable (shows only numbers\/digits or raw code) do not sign it.\n\nBe alert and remember if something looks too good to be true, it probably is.\n\n## What to do if you've been scammed\nIf you think you've been targeted by scammers, act quickly. If you suspect a scam or have lost money to one:\n\n- Stop sending money.\n- Contact your bank or crypto platform immediately — they may be able to help stop transactions.\n- Report the scam to [Scamwatch](https:\/\/www.scamwatch.gov.au\/report-a-scam \"Scamwatch report a scam\") — reports help authorities stop scammers.\n- Tell friends and family so they can protect themselves.\n\nFor more information, see [what to do if you've been scammed](https:\/\/moneysmart.gov.au\/check-and-report-scams\/what-to-do-if-you-ve-been-scammed \"What to do if you've been scammed\").\n\nCosta's friend Pat saw a new crypto asset promoted on social media offering an annual percentage yield (APY) of 35%. Pat wanted a better return than his savings account, where he was earning 2.25% per year.\n\nThe post had a link to a website promising “guaranteed returns”. Charts showed the crypto asset was growing fast. There was a calculator displaying how much an investment of only \\$1,000 could yield, and a running tally of people who had their “interest” paid to them over the last day.\n\nPat invested \\$1,000 in the crypto asset. The site showed the value of the crypto going up over the next few days, so he invested \\$9,000 more. Pat suggested to Costa that he should invest too.\n\nBefore investing, Costa checked the crypto's white paper. He noticed spelling mistakes and couldn't find any information about the people listed in the project. There was a lot of hype online about the project and overly positive reviews. Costa also noticed an extreme price increase shortly after the crypto was founded. Because of these red flags, he decided not to invest.\n\nA few days later, Pat discovered the crypto asset's price had dropped to almost zero overnight. The crypto developers had withdrawn all the coins from the liquidity pool, making the investment worthless.\n\nPat lost his entire \\$10,000.","meta_canonical":null}

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URL	https://moneysmart.gov.au/financial-scams/crypto-scams
Last Crawled	2026-04-18 19:58:53 (2 hours ago)
First Indexed	2023-09-04 01:50:05 (2 years ago)
HTTP Status Code	200
Meta Title	Crypto scams - Moneysmart.gov.au
Meta Description	Learn how to spot crypto scams, protect your money and report scams fast. Get tips from Moneysmart to stay safe online with crypto.
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Boilerpipe Text	Scammers target crypto-assets as they are well-known, popular and not easily recovered . On this page What is a crypto scam? How crypto scams work How to spot a crypto scam What to do before you invest in or send crypto What to do if you've been scammed What is a crypto scam? Crypto scams are schemes that try to trick you into giving up money or crypto (digital assets). Scammers use social media, apps, messages and websites that look real. If you lose money in a crypto scam, it’s usually very hard to get it back. Artificial intelligence (AI) is super-charging online scam threats. In 2025, ASIC coordinated the removal of 11,964 phishing and investment scam websites - an average of 32 per day. ASIC also took down more than 1,100 online investment scam advertisements on social media in 2025. Learn more about ASIC's work . How crypto scams work Crypto-related scams can fall into these types: Paying scammers with crypto Investing in a fake trading platform, wallet or app Scam tokens and investment schemes Impersonation of a legitimate digital asset trading platform 1. Using crypto to pay scammers Scammers might target your emotions to get you to send crypto quickly. For example: Exciting opportunities  – An online romantic partner, job recruiter, or fake business asks for payment in crypto only, including buying crypto at a crypto ATM. Giveaway scams  – Posts on social media offer to match or multiply crypto invested with them in a crypto giveaway scam. Blackmail/extortion  – You're told by a scammer they have your internet browsing history, compromising photos or videos. They demand payment in crypto. Recovery – You are contacted by an individual claiming to be a government or law enforcement official who alleges to either have frozen crypto belonging to you or alternatively attempting to phish for account details. See ASIC's scam warning for an example of how this might work. There have also been examples of scammers impersonating police to trick victims into transferring their cryptocurrency. 2. Fake trading platforms, wallets or apps Scammers build fake exchanges or wallet sites that look real. You’re invited to trade, but once you deposit crypto, they disappear with your funds. This can work in different ways: Phishing webpages  – These capture the details you enter, so the scammer can log in later and steal your crypto. They may also send links via phishing emails or DMs. Fake platforms  – You use their platform to trade, mine crypto or to earn extra rewards. Initially, your crypto goes up in value, so you invest more. But then they lock you out, close the site and disappear with your money. Fake trading apps - Scammers create fake crypto trading apps to steal your money. They may appear on legitimate online application platforms, but the giveaway is usually that they ask you to download the app from their website. These platforms can then be marketed by finfluencers, who may not know that the product is a scam. 3. Fake tokens and investment schemes Scammers create fake crypto tokens or offer ‘exclusive’ investments to lure you in. Scam tokens in crypto wallets – A mystery token appears in your crypto wallet, seemingly worth thousands. If you sell it, a 'smart contract' is activated. This transfers your legitimate crypto tokens and private keys to the scammer. Initial Coin Offering (ICO) and Crypto Launchpad 'rug pull' scams – Similar to a pump and dump scheme , in a rug pull crypto scam an (or initial token offering, ITO) is hyped through marketing and social media, sometimes marketed as a token ‘pre-sale’. When the amount invested reaches a certain level, the scammer cashes out the coins and disappears. With the liquidity gone, the value plummets and your coins are worthless. Crypto ponzi scheme – You're promised large ‘returns’ by investing in crypto. But the promoter uses money from other investors to pay your ‘earnings’. For more on how these scams work, see ponzi schemes . 4. Digital asset trading platform impersonation Scammers are impersonating legitimate digital currency exchanges to trick you to provide personal information and login details. Make sure you check the website address and do not click on any hyperlinks received via email or text message claiming to be from your exchange. You should never provide your password to someone else, and an exchange or platform will never ask you to share your password. Been offered a job trading crypto or working for a crypto platform? Scammers use people to launder money. You may be told to set up multiple bank and crypto accounts and are paid well for a few hours of work a week. You think you're trading crypto for the entity’s ‘investors’ or ‘clients’, but you're actually money laundering for the scammers. You could be charged by state or federal police. How to spot a crypto scam Crypto can be sent overseas quickly with limited oversight. If you lose your money to a crypto scam, your money is likely gone. Watch out for these potential red flags. Unexpected contact If someone you don't know contacts you with investment advice or offers – especially via phone, email, text or social media – stop and check it carefully. Recommendations from someone familiar You may hear about it through: an advertisement or fake celebrity endorsement on social media an online influencer an online romantic partner, or family and friends who have unknowingly been scammed themselves Pressure to act fast If you are told to transfer crypto right away, download a sketchy app, or pay before seeing full details, that’s a big red flag. Promises that sound too good to be true Guaranteed high returns or free crypto are typical scam tactics. It’s important to remember that even with a genuine crypto investment, c rypto is high-risk and volatile . The value can go up or down quickly and there are no guaranteed returns. To find out more about how scammers operate, see investment scams . What to do before you invest in or send crypto Scammers are skilled at convincing people to part with their money by overpromising and using flashy marketing. Here are some ways to be alert to crypto scams: Always question social media ads influencers and celebrity endorsements promoting crypto. Read websites carefully.  Verify listed addresses or phone numbers. Look for spelling mistakes. Read the whitepaper for new coins and search for information about people involved in the project. Beware of requests for payment in crypto.  It’s unlikely that any legitimate financial services firm will ask you to pay exclusively in crypto. Be wary of any recruiter, online romantic partner, or online acquaintance who asks for a crypto payment. Be alert if someone offers ‘high returns’ for ‘low risk’ crypto investments . Be wary of a promise of large instant rewards if you sign up now, or large returns over a short period of time. If you're already investing in crypto: Use a private Wi-Fi network  to connect to your crypto account or wallet. Scammers can intercept information sent over public Wi-Fi. If you plan to travel and use public Wi-Fi consider whether you need to access your account whilst away. Be careful before you interact with a token you didn't trade , if it suddenly appears in your wallet Be careful when installing browser add-ons or software that links your crypto holdings. There is legitimate software that performs this task, but there are also many scams that look legitimate. Be cautious when ‘signing’ a crypto transaction from your own digital wallet. If a signature request is not human readable (shows only numbers/digits or raw code) do not sign it. Be alert and remember if something looks too good to be true, it probably is. What to do if you've been scammed If you think you've been targeted by scammers, act quickly. If you suspect a scam or have lost money to one:  Stop sending money. Contact your bank or crypto platform immediately — they may be able to help stop transactions. Report the scam to Scamwatch — reports help authorities stop scammers. Tell friends and family so they can protect themselves. For more information, see what to do if you've been scammed . Costa's friend Pat saw a new crypto asset promoted on social media offering an annual percentage yield (APY) of 35%. Pat wanted a better return than his savings account, where he was earning 2.25% per year. The post had a link to a website promising “guaranteed returns”. Charts showed the crypto asset was growing fast. There was a calculator displaying how much an investment of only $1,000 could yield, and a running tally of people who had their “interest” paid to them over the last day. Pat invested $1,000 in the crypto asset. The site showed the value of the crypto going up over the next few days, so he invested $9,000 more. Pat suggested to Costa that he should invest too. Before investing, Costa checked the crypto's white paper. He noticed spelling mistakes and couldn't find any information about the people listed in the project. There was a lot of hype online about the project and overly positive reviews. Costa also noticed an extreme price increase shortly after the crypto was founded. Because of these red flags, he decided not to invest. A few days later, Pat discovered the crypto asset's price had dropped to almost zero overnight. The crypto developers had withdrawn all the coins from the liquidity pool, making the investment worthless. Pat lost his entire $10,000.
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[Media centre](https://moneysmart.gov.au/media-centre) - [Like MoneySmart on Facebook](https://www.facebook.com/MoneySmartAu "Like MoneySmart on Facebook") - [Subscribe to MoneySmart on Youtube](https://www.youtube.com/user/MoneySmartAu "Subscribe to MoneySmart on Youtube") - [Follow MoneySmart on Instagram](https://www.instagram.com/moneysmartau/ "Follow MoneySmart on Instagram") ![Australian Government crest](https://static.moneysmart.gov.au/nextgen/img/image-placeholder.gif) # Crypto scams Scammers target crypto-assets as they are well-known, popular and not easily recovered. - On this page - [What is a crypto scam?](https://moneysmart.gov.au/financial-scams/crypto-scams#what-is-a-crypto-scam? "What is a crypto scam?") - [How crypto scams work](https://moneysmart.gov.au/financial-scams/crypto-scams#how-crypto-scams-work "How crypto scams work") - [How to spot a crypto scam](https://moneysmart.gov.au/financial-scams/crypto-scams#how-to-spot-a-crypto-scam "How to spot a crypto scam") - [What to do before you invest in or send crypto](https://moneysmart.gov.au/financial-scams/crypto-scams#what-to-do-before-you-invest-in-or-send-crypto "What to do before you invest in or send crypto") - [What to do if you've been scammed](https://moneysmart.gov.au/financial-scams/crypto-scams#what-to-do-if-you've-been-scammed "What to do if you've been scammed") ## What is a crypto scam? Crypto scams are schemes that try to trick you into giving up money or crypto (digital assets). Scammers use social media, apps, messages and websites that look real. If you lose money in a crypto scam, it’s usually very hard to get it back. Artificial intelligence (AI) is super-charging online scam threats. In 2025, ASIC coordinated the removal of 11,964 phishing and investment scam websites - an average of 32 per day. ASIC also took down more than 1,100 online investment scam advertisements on social media in 2025. [Learn more about ASIC's work](https://www.asic.gov.au/about-asic/news-centre/find-a-media-release/2026-releases/26-063mr-asic-ramps-up-action-to-protect-consumers-from-ai-powered-online-investment-scams/ "ASIC media release"). ## How crypto scams work Crypto-related scams can fall into these types: 1. Paying scammers with crypto 2. Investing in a fake trading platform, wallet or app 3. Scam tokens and investment schemes 4. Impersonation of a legitimate digital asset trading platform ### 1\. Using crypto to pay scammers Scammers might target your emotions to get you to send crypto quickly. For example: - Exciting opportunities – An online romantic partner, job recruiter, or fake business asks for payment in crypto only, including buying crypto at a crypto ATM. - Giveaway scams – Posts on social media offer to match or multiply crypto invested with them in a crypto giveaway scam. - Blackmail/extortion – You're told by a scammer they have your internet browsing history, compromising photos or videos. They demand payment in crypto. - Recovery – You are contacted by an individual claiming to be a government or law enforcement official who alleges to either have frozen crypto belonging to you or alternatively attempting to phish for account details. See [ASIC's scam warning](https://www.asic.gov.au/about-asic/news-centre/news-items/scam-alert-beware-scammers-impersonating-asic-requesting-payments-to-release-funds-or-assets/ "ASIC's scam warning") for an example of how this might work. There have also been examples of [scammers impersonating police](https://www.cyber.gov.au/about-us/view-all-content/alerts-and-advisories/scammers-impersonating-police-to-target-victims-for-cryptocurrencyseed-wallet-theft "Australian Signals Directorate media release") to trick victims into transferring their cryptocurrency. ### 2\. Fake trading platforms, wallets or apps Scammers build fake exchanges or wallet sites that look real. You’re invited to trade, but once you deposit crypto, they disappear with your funds. This can work in different ways: - Phishing webpages – These capture the details you enter, so the scammer can log in later and steal your crypto. They may also send links via phishing emails or DMs. - Fake platforms – You use their platform to trade, mine crypto or to earn extra rewards. Initially, your crypto goes up in value, so you invest more. But then they lock you out, close the site and disappear with your money. - Fake trading apps - Scammers create fake crypto trading apps to steal your money. They may appear on legitimate online application platforms, but the giveaway is usually that they ask you to download the app from their website. These platforms can then be marketed by finfluencers, who may not know that the product is a scam. ### 3\. Fake tokens and investment schemes Scammers create fake crypto tokens or offer ‘exclusive’ investments to lure you in. - Scam tokens in crypto wallets – A mystery token appears in your crypto wallet, seemingly worth thousands. If you sell it, a 'smart contract' is activated. This transfers your legitimate crypto tokens and private keys to the scammer. - Initial Coin Offering (ICO) and Crypto Launchpad 'rug pull' scams – Similar to a [pump and dump scheme](https://moneysmart.gov.au/investment-warnings/pump-and-dump-schemes "Pump and dump schemes"), in a rug pull crypto scam an ICO An ICO is a way a project can raise money over the internet. You invest in an ICO by sending money or crypto assets to a blockchain project. In return, you receive digital tokens related to that project. (or initial token offering, ITO) is hyped through marketing and social media, sometimes marketed as a token ‘pre-sale’. When the amount invested reaches a certain level, the scammer cashes out the coins and disappears. With the liquidity gone, the value plummets and your coins are worthless. - Crypto ponzi scheme – You're promised large ‘returns’ by investing in crypto. But the promoter uses money from other investors to pay your ‘earnings’. For more on how these scams work, see [ponzi schemes](https://moneysmart.gov.au/financial-scams/ponzi-schemes "Ponzi schemes"). ### 4\. Digital asset trading platform impersonation Scammers are impersonating legitimate digital currency exchanges to trick you to provide personal information and login details. Make sure you check the website address and do not click on any hyperlinks received via email or text message claiming to be from your exchange. You should never provide your password to someone else, and an exchange or platform will never ask you to share your password. Been offered a job trading crypto or working for a crypto platform? Scammers use people to launder money. You may be told to set up multiple bank and crypto accounts and are paid well for a few hours of work a week. You think you're trading crypto for the entity’s ‘investors’ or ‘clients’, but you're actually money laundering for the scammers. You could be charged by state or federal police. ## How to spot a crypto scam Crypto can be sent overseas quickly with limited oversight. If you lose your money to a crypto scam, your money is likely gone. Watch out for these potential red flags. ### Unexpected contact If someone you don't know contacts you with investment advice or offers – especially via phone, email, text or social media – stop and check it carefully. ### Recommendations from someone familiar You may hear about it through: - an advertisement or fake celebrity endorsement on social media - an online influencer - an online romantic partner, or - family and friends who have unknowingly been scammed themselves Pressure to act fast If you are told to transfer crypto right away, download a sketchy app, or pay before seeing full details, that’s a big red flag. ### Promises that sound too good to be true Guaranteed high returns or free crypto are typical scam tactics. It’s important to remember that even with a genuine crypto investment, crypto is [high-risk and volatile](https://moneysmart.gov.au/investment-warnings/crypto-assets). The value can go up or down quickly and there are no guaranteed returns. To find out more about how scammers operate, see [investment scams](https://moneysmart.gov.au/financial-scams/investment-scams "Investment scams"). ## What to do before you invest in or send crypto Scammers are skilled at convincing people to part with their money by overpromising and using flashy marketing. Here are some ways to be alert to crypto scams: - Always question social media ads influencers and celebrity endorsements promoting crypto. - Read websites carefully. Verify listed addresses or phone numbers. Look for spelling mistakes. Read the whitepaper for new coins and search for information about people involved in the project. - Beware of requests for payment in crypto. It’s unlikely that any legitimate financial services firm will ask you to pay exclusively in crypto. Be wary of any recruiter, online romantic partner, or online acquaintance who asks for a crypto payment. - Be alert if someone offers ‘high returns’ for ‘low risk’ crypto investments. Be wary of a promise of large instant rewards if you sign up now, or large returns over a short period of time. - If you're already investing in crypto: - Use a private Wi-Fi network to connect to your crypto account or wallet. Scammers can intercept information sent over public Wi-Fi. If you plan to travel and use public Wi-Fi consider whether you need to access your account whilst away. - Be careful before you interact with a token you didn't trade, if it suddenly appears in your wallet - Be careful when installing browser add-ons or software that links your crypto holdings. There is legitimate software that performs this task, but there are also many scams that look legitimate. - Be cautious when ‘signing’ a crypto transaction from your own digital wallet. If a signature request is not human readable (shows only numbers/digits or raw code) do not sign it. Be alert and remember if something looks too good to be true, it probably is. ## What to do if you've been scammed If you think you've been targeted by scammers, act quickly. If you suspect a scam or have lost money to one: - Stop sending money. - Contact your bank or crypto platform immediately — they may be able to help stop transactions. - Report the scam to [Scamwatch](https://www.scamwatch.gov.au/report-a-scam "Scamwatch report a scam") — reports help authorities stop scammers. - Tell friends and family so they can protect themselves. For more information, see [what to do if you've been scammed](https://moneysmart.gov.au/check-and-report-scams/what-to-do-if-you-ve-been-scammed "What to do if you've been scammed"). Costa's friend Pat saw a new crypto asset promoted on social media offering an annual percentage yield (APY) of 35%. Pat wanted a better return than his savings account, where he was earning 2.25% per year. The post had a link to a website promising “guaranteed returns”. Charts showed the crypto asset was growing fast. There was a calculator displaying how much an investment of only \$1,000 could yield, and a running tally of people who had their “interest” paid to them over the last day. Pat invested \$1,000 in the crypto asset. The site showed the value of the crypto going up over the next few days, so he invested \$9,000 more. Pat suggested to Costa that he should invest too. Before investing, Costa checked the crypto's white paper. He noticed spelling mistakes and couldn't find any information about the people listed in the project. There was a lot of hype online about the project and overly positive reviews. Costa also noticed an extreme price increase shortly after the crypto was founded. Because of these red flags, he decided not to invest. A few days later, Pat discovered the crypto asset's price had dropped to almost zero overnight. The crypto developers had withdrawn all the coins from the liquidity pool, making the investment worthless. Pat lost his entire \$10,000. [1What is a crypto scam?](https://moneysmart.gov.au/financial-scams/crypto-scams#what-is-a-crypto-scam?) [2How crypto scams work](https://moneysmart.gov.au/financial-scams/crypto-scams#how-crypto-scams-work) [3How to spot a crypto scam](https://moneysmart.gov.au/financial-scams/crypto-scams#how-to-spot-a-crypto-scam) [4What to do before you invest in or send crypto](https://moneysmart.gov.au/financial-scams/crypto-scams#what-to-do-before-you-invest-in-or-send-crypto) [5What to do if you've been scammed](https://moneysmart.gov.au/financial-scams/crypto-scams#what-to-do-if-you've-been-scammed) Do you find this page useful? Yes No Why? It had the information I was looking for The page makes sense The information is balanced and unbiased The information gave me a sense of what to do next Submit Any other feedback Why not? It didn't have the information I was looking for The page was confusing The information overwhelmed me There wasn't enough information for me to take action Submit Any other feedback Your feedback Your feedback relates to: You would like to: Your issue is: - Calculator disclaimers and assumptions can be found under each calculator. Refer to these for more detailed information about how a specific calculator works. - Calculator frequently asked questions can be found under most calculators. Refer to these for more information. The links below provide more information on complaints and reporting scams: - [Complain about a financial product or service](https://moneysmart.gov.au/how-to-complain "How to complain") - [Report a scam](https://moneysmart.gov.au/check-and-report-scams/what-to-do-if-you-ve-been-scammed "Report a scam") - [Report misconduct to ASIC](https://asic.gov.au/about-asic/contact-us/how-to-complain/ "ASIC - how to complain") We don't lend money, arrange loans or provide personal financial advice. If you are experiencing difficulties with money, the following pages can help: - [Urgent help with money](https://moneysmart.gov.au/managing-debt/urgent-help-with-money "Urgent help with money") - [No or low interest loans](https://moneysmart.gov.au/loans/no-interest-loans "No or low interest loans") - [Problems paying your bills or fines](https://moneysmart.gov.au/managing-debt/problems-paying-your-bills-and-fines "Problems paying your bills and fines") - [Problems paying your mortgage](https://moneysmart.gov.au/home-loans/problems-paying-your-mortgage "Problems paying your mortgage") - [Find a financial counsellor](https://moneysmart.gov.au/managing-debt/financial-counselling "Financial counselling") Summary of your feedback: Your comments: The page/calculator/app you are referring to (eg. cut/paste URL): Cancel Send feedback ## Up next in Financial scams arrow\_backMove left arrow\_forwardMove right - [Banking and credit scams If someone asks for your details or offers a loan, it may be a scam 5 min read](https://moneysmart.gov.au/financial-scams/banking-and-credit-scams) - [Imposter bond investment scams Scammers may pose as financial companies and offer fake 'low-risk' investments, like bonds or fixed term deposits 5 min read](https://moneysmart.gov.au/financial-scams/imposter-bond-investment-scams) - [Investment scams Be suspicious of anyone offering you easy money. 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Readable Markdown	Scammers target crypto-assets as they are well-known, popular and not easily recovered. - On this page - [What is a crypto scam?](https://moneysmart.gov.au/financial-scams/crypto-scams#what-is-a-crypto-scam? "What is a crypto scam?") - [How crypto scams work](https://moneysmart.gov.au/financial-scams/crypto-scams#how-crypto-scams-work "How crypto scams work") - [How to spot a crypto scam](https://moneysmart.gov.au/financial-scams/crypto-scams#how-to-spot-a-crypto-scam "How to spot a crypto scam") - [What to do before you invest in or send crypto](https://moneysmart.gov.au/financial-scams/crypto-scams#what-to-do-before-you-invest-in-or-send-crypto "What to do before you invest in or send crypto") - [What to do if you've been scammed](https://moneysmart.gov.au/financial-scams/crypto-scams#what-to-do-if-you've-been-scammed "What to do if you've been scammed") ## What is a crypto scam? Crypto scams are schemes that try to trick you into giving up money or crypto (digital assets). Scammers use social media, apps, messages and websites that look real. If you lose money in a crypto scam, it’s usually very hard to get it back. Artificial intelligence (AI) is super-charging online scam threats. In 2025, ASIC coordinated the removal of 11,964 phishing and investment scam websites - an average of 32 per day. ASIC also took down more than 1,100 online investment scam advertisements on social media in 2025. [Learn more about ASIC's work](https://www.asic.gov.au/about-asic/news-centre/find-a-media-release/2026-releases/26-063mr-asic-ramps-up-action-to-protect-consumers-from-ai-powered-online-investment-scams/ "ASIC media release"). ## How crypto scams work Crypto-related scams can fall into these types: 1. Paying scammers with crypto 2. Investing in a fake trading platform, wallet or app 3. Scam tokens and investment schemes 4. Impersonation of a legitimate digital asset trading platform ### 1\. Using crypto to pay scammers Scammers might target your emotions to get you to send crypto quickly. For example: - Exciting opportunities – An online romantic partner, job recruiter, or fake business asks for payment in crypto only, including buying crypto at a crypto ATM. - Giveaway scams – Posts on social media offer to match or multiply crypto invested with them in a crypto giveaway scam. - Blackmail/extortion – You're told by a scammer they have your internet browsing history, compromising photos or videos. They demand payment in crypto. - Recovery – You are contacted by an individual claiming to be a government or law enforcement official who alleges to either have frozen crypto belonging to you or alternatively attempting to phish for account details. See [ASIC's scam warning](https://www.asic.gov.au/about-asic/news-centre/news-items/scam-alert-beware-scammers-impersonating-asic-requesting-payments-to-release-funds-or-assets/ "ASIC's scam warning") for an example of how this might work. There have also been examples of [scammers impersonating police](https://www.cyber.gov.au/about-us/view-all-content/alerts-and-advisories/scammers-impersonating-police-to-target-victims-for-cryptocurrencyseed-wallet-theft "Australian Signals Directorate media release") to trick victims into transferring their cryptocurrency. ### 2\. Fake trading platforms, wallets or apps Scammers build fake exchanges or wallet sites that look real. You’re invited to trade, but once you deposit crypto, they disappear with your funds. This can work in different ways: - Phishing webpages – These capture the details you enter, so the scammer can log in later and steal your crypto. They may also send links via phishing emails or DMs. - Fake platforms – You use their platform to trade, mine crypto or to earn extra rewards. Initially, your crypto goes up in value, so you invest more. But then they lock you out, close the site and disappear with your money. - Fake trading apps - Scammers create fake crypto trading apps to steal your money. They may appear on legitimate online application platforms, but the giveaway is usually that they ask you to download the app from their website. These platforms can then be marketed by finfluencers, who may not know that the product is a scam. ### 3\. Fake tokens and investment schemes Scammers create fake crypto tokens or offer ‘exclusive’ investments to lure you in. - Scam tokens in crypto wallets – A mystery token appears in your crypto wallet, seemingly worth thousands. If you sell it, a 'smart contract' is activated. This transfers your legitimate crypto tokens and private keys to the scammer. - Initial Coin Offering (ICO) and Crypto Launchpad 'rug pull' scams – Similar to a [pump and dump scheme](https://moneysmart.gov.au/investment-warnings/pump-and-dump-schemes "Pump and dump schemes"), in a rug pull crypto scam an (or initial token offering, ITO) is hyped through marketing and social media, sometimes marketed as a token ‘pre-sale’. When the amount invested reaches a certain level, the scammer cashes out the coins and disappears. With the liquidity gone, the value plummets and your coins are worthless. - Crypto ponzi scheme – You're promised large ‘returns’ by investing in crypto. But the promoter uses money from other investors to pay your ‘earnings’. For more on how these scams work, see [ponzi schemes](https://moneysmart.gov.au/financial-scams/ponzi-schemes "Ponzi schemes"). ### 4\. Digital asset trading platform impersonation Scammers are impersonating legitimate digital currency exchanges to trick you to provide personal information and login details. Make sure you check the website address and do not click on any hyperlinks received via email or text message claiming to be from your exchange. You should never provide your password to someone else, and an exchange or platform will never ask you to share your password. Been offered a job trading crypto or working for a crypto platform? Scammers use people to launder money. You may be told to set up multiple bank and crypto accounts and are paid well for a few hours of work a week. You think you're trading crypto for the entity’s ‘investors’ or ‘clients’, but you're actually money laundering for the scammers. You could be charged by state or federal police. ## How to spot a crypto scam Crypto can be sent overseas quickly with limited oversight. If you lose your money to a crypto scam, your money is likely gone. Watch out for these potential red flags. ### Unexpected contact If someone you don't know contacts you with investment advice or offers – especially via phone, email, text or social media – stop and check it carefully. ### Recommendations from someone familiar You may hear about it through: - an advertisement or fake celebrity endorsement on social media - an online influencer - an online romantic partner, or - family and friends who have unknowingly been scammed themselves Pressure to act fast If you are told to transfer crypto right away, download a sketchy app, or pay before seeing full details, that’s a big red flag. ### Promises that sound too good to be true Guaranteed high returns or free crypto are typical scam tactics. It’s important to remember that even with a genuine crypto investment, crypto is [high-risk and volatile](https://moneysmart.gov.au/investment-warnings/crypto-assets). The value can go up or down quickly and there are no guaranteed returns. To find out more about how scammers operate, see [investment scams](https://moneysmart.gov.au/financial-scams/investment-scams "Investment scams"). ## What to do before you invest in or send crypto Scammers are skilled at convincing people to part with their money by overpromising and using flashy marketing. Here are some ways to be alert to crypto scams: - Always question social media ads influencers and celebrity endorsements promoting crypto. - Read websites carefully. Verify listed addresses or phone numbers. Look for spelling mistakes. Read the whitepaper for new coins and search for information about people involved in the project. - Beware of requests for payment in crypto. It’s unlikely that any legitimate financial services firm will ask you to pay exclusively in crypto. Be wary of any recruiter, online romantic partner, or online acquaintance who asks for a crypto payment. - Be alert if someone offers ‘high returns’ for ‘low risk’ crypto investments. Be wary of a promise of large instant rewards if you sign up now, or large returns over a short period of time. - If you're already investing in crypto: - Use a private Wi-Fi network to connect to your crypto account or wallet. Scammers can intercept information sent over public Wi-Fi. If you plan to travel and use public Wi-Fi consider whether you need to access your account whilst away. - Be careful before you interact with a token you didn't trade, if it suddenly appears in your wallet - Be careful when installing browser add-ons or software that links your crypto holdings. There is legitimate software that performs this task, but there are also many scams that look legitimate. - Be cautious when ‘signing’ a crypto transaction from your own digital wallet. If a signature request is not human readable (shows only numbers/digits or raw code) do not sign it. Be alert and remember if something looks too good to be true, it probably is. ## What to do if you've been scammed If you think you've been targeted by scammers, act quickly. If you suspect a scam or have lost money to one: - Stop sending money. - Contact your bank or crypto platform immediately — they may be able to help stop transactions. - Report the scam to [Scamwatch](https://www.scamwatch.gov.au/report-a-scam "Scamwatch report a scam") — reports help authorities stop scammers. - Tell friends and family so they can protect themselves. For more information, see [what to do if you've been scammed](https://moneysmart.gov.au/check-and-report-scams/what-to-do-if-you-ve-been-scammed "What to do if you've been scammed"). Costa's friend Pat saw a new crypto asset promoted on social media offering an annual percentage yield (APY) of 35%. Pat wanted a better return than his savings account, where he was earning 2.25% per year. The post had a link to a website promising “guaranteed returns”. Charts showed the crypto asset was growing fast. There was a calculator displaying how much an investment of only \$1,000 could yield, and a running tally of people who had their “interest” paid to them over the last day. Pat invested \$1,000 in the crypto asset. The site showed the value of the crypto going up over the next few days, so he invested \$9,000 more. Pat suggested to Costa that he should invest too. Before investing, Costa checked the crypto's white paper. He noticed spelling mistakes and couldn't find any information about the people listed in the project. There was a lot of hype online about the project and overly positive reviews. Costa also noticed an extreme price increase shortly after the crypto was founded. Because of these red flags, he decided not to invest. A few days later, Pat discovered the crypto asset's price had dropped to almost zero overnight. The crypto developers had withdrawn all the coins from the liquidity pool, making the investment worthless. Pat lost his entire \$10,000.
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