🕷️ Crawler Inspector

URL Lookup

Direct Parameter Lookup

Raw Queries and Responses

1. Shard Calculation

Query:

Response:

Calculated Shard: 90 (from laksa193)

2. Crawled Status Check

Query:

curl -X POST \
  'http://laksa090.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://www.cnb.com/personal-banking/insights/crypto-scams.html\')), getAhrefsUnparsedNoserviceFromURL(\'https://www.cnb.com/personal-banking/insights/crypto-scams.html\'))) FORMAT JSONEachRow'

Response:

{"found_url":"https:\/\/www.cnb.com\/personal-banking\/insights\/crypto-scams.html","crawl_time":1775844411,"first_indexed_time":1719652664,"http_code":200,"src_unparsed":"com,cnb!www,\/personal-banking\/insights\/crypto-scams.html s443","src_root_hash":"5232167005364345490","history_drop_reason":null,"meta_title":"How to Help Spot a Crypto Scam | City National Bank","meta_descriptions":["Investing in cryptocurrency is already risky enough, and scammers are working hard to add to its dangers. And their efforts are paying the off to the tune of billions. Learn more about how to help spot crypto scams."],"attrs_boilerpipe_text":"Cryptocurrency, also known as crypto, is digital currency that is encrypted and decentralized. Over recent years, cryptocurrencies such as Bitcoin and Ethereum have made headlines for its\nconsiderable volatility and risk\n.\nWhile many people are drawn to cryptocurrency, it carries significant peril. For example, crypto holdings are not insured by the Federal Deposit Insurance Corporation (FDIC), which does insure traditional bank deposits in accounts such as checking and savings. This means that a crypto investor assumes a considerable risk of losing their money during a crash.\nBut that isn't where the risk ends. The world of cryptocurrency has created a new environment for scammers to steal from others.\nIn 2023, cryptocurrency investment fraud losses rose to $3.94 billion, an increase of 53% from the previous year, according to a 2024\nreport\nfrom the FBI’s Internet Crime Complaint Center.\nIn an increasingly digital world, it’s important to learn how to spot a bitcoin scam or any kind of crypto scam. The information below can help you get started with protecting yourself.\nTypes of Cryptocurrency Scams to Watch\nIf you decide to take on the considerable risks associated with investing in cryptocurrencies, you should take every step possible to prevent yourself from falling victim to scammers. Part of this process is familiarizing yourself with some of the most common scams involving crypto.\nHere are a few to know about.\nFake Cryptocurrency Websites\nScammers often spoof a legitimate cryptocurrency website or create a fake website to trick victims into purchasing cryptocurrency. It may have a similar design to an official website, but the domain name will be slightly different from the legitimate one.\nThe fake website may include fake testimonials, fake trading platforms and trading records. Once a person pays money to these websites, they might find it impossible to recover their lost funds.\nCrypto Phishing Scams\nFake websites often help scammers accomplish something known as phishing. In short, phishing is the process of tricking a person to provide personal information.\nIn the case of crypto, scammers often use fake websites to try to obtain access to a person's cryptocurrency wallet. During this process, they'll send you an email or a text with a link to their fake site. Always verify the validity of any site before entering sensitive information into it.\nFake Celebrity Endorsements\nSome scammers will post pictures of a celebrity or influencer, falsely claiming that the celebrity made a lot of money using their financial services app or program. These organizations might contact you through social media, sending you links or\nQR codes\n. Their hope is that the false celebrity endorsement will be enough to convince you that the scheme is real.\nIf you click the link, bogus financial services will pressure you to open a cryptocurrency account by downloading their app. In some cases, this app may enable remote access to your device, allowing fraudsters access to your funds.\nPonzi Schemes\nWhile Ponzi schemes have been around for decades, they've found new life in the crypto era. In a Ponzi scheme, scammers attempt to recruit you as an investor in what appears to be a legitimate cryptocurrency portfolio. The scammers will continue to recruit new investors, securing more money and — thanks to their accrual of funds — the appearance of legitimacy.\nInstead of investing in a cryptocurrency portfolio as promised, they'll use the funds to pay out the initial investors and pocket the rest. Since early investors might receive consistent high returns, they can unknowingly legitimize the Ponzi scheme by endorsing it. Scammers will falsify documents and fabricate account statements to keep the scheme going and recruit more investors.   \nCryptocurrency Donations\nIt's possible for individuals or corporations to donate cryptocurrency investments to legitimate charitable organizations. This means that it's also possible for scammers to pose as those organizations.\nDuring this scheme, scammers will often set up a fake website that poses as a legitimate charity or, in some cases, a\ncompletely made up one\n. These websites focus on one objective: Taking advantage of a person's charitable inclinations to steal their money.\nRug Pull Scams\nAlso known as pump-and-dump schemes, these scams involve a fraudster who promotes a crypto product to boost its price. They then take the investors’ money and quietly shut down the project, leaving investors with worthless crypto coins.\nBlackmail Scams\nScammers will sometimes try to blackmail an individual by saying they have compromising photos or videos of the person and will request payment with cryptocurrency to avoid them sending the compromising images to others.\nWhen this happens, the\nFTC advises\nthat you ignore the scammer's threats and\nreport the crime to the FBI\n.\nBusiness Opportunity Scam\nSome scammers will promote fake business opportunities which they often say will make you significant amounts of money with minimal investments of funds or time. During this scheme, a scammer will often act as if the matter is urgent in an attempt to pressure you into providing payment.\nRomance Scams\nRomance scams sadly exploit the hopes and trust of individuals,\nincluding the elderly\n. During these schemes, a scammer starts a romantic relationship with the victim via email or text. Once the victim’s feelings are involved, the scammer will try to get them to send money for various made up reasons.\nHow to Help Detect and Prevent Crypto Scams\nInvesting in cryptocurrency might offer the potential for enormous gains, but it’s crucial to take steps to protect yourself and your money. Consider five tips for protecting yourself from crypto scams.\nStay informed about cryptocurrency and scams.\nThere are thousands of cryptocurrencies available, and each type provides different ways to purchase and store it. With so many options available, it’s important to educate yourself on the process of purchasing and selling the options you choose.\nIn addition, you should always stay up-to-date about common scams in cryptocurrency markets and be aware of how scammers are approaching investors. If you are contacted to buy or sell cryptocurrency, be extremely cautious about responding and if there's a hint of doubt - don't. \nDo your due diligence.\nNever invest in a new cryptocurrency or initial coin offering (ICO) without doing thorough research. Be skeptical of any cryptocurrency platform that promotes a guaranteed return. Remember, there's no such thing as a free lunch.\nUse reputable wallets with robust security features.\nWhen you own cryptocurrency, you can only access your holdings with your private \"key,\" which is the password that gives you access to your money. Most crypto investors use a crypto wallet that keeps their private keys protected and accessible. Make sure you only use a crypto wallet that has robust security features—because anyone who gains access to your private keys will immediately have access to your crypto funds.\nPractice good cyber hygiene.\nUse\nlong passwords\n, two-factor authentication and update all your software in a timely manner. Do not share your private keys with anyone. If you share your private key with someone, they can access your cryptocurrency wallet, allowing coins to be withdrawn or transferred. \nCheck out charities before making a donation.\nVerify any charitable organization by searching online. Websites like\nCharity Navigator\n,\nCharity Watch\nand the Better Business Bureau’s\nWise Giving Alliance\nwill post details about legitimate organizations and the causes they support.\nHow to Report a Cryptocurrency Scam\nIt's important to remember that investing in cryptocurrency is inherently risky, even when scams aren't a factor. If you've chosen to take on the risk associated with investing in crypto, you need to protect yourself if you believe you've been scammed.\nIf you suspect a crypto scam or believe you’ve been the victim of a crypto scam, visit the\nFBI page about reporting cryptocurrency scams\nto find out what to do for your specific information.","attrs_markdown":"- [![](https:\/\/www.cnb.com\/content\/dam\/cnb\/global-assets\/images\/icons\/topnav_aboutus.svg) About Us](https:\/\/www.cnb.com\/about-us.html)\n- [![](https:\/\/www.cnb.com\/content\/dam\/cnb\/global-assets\/images\/icons\/film-clapboard-24x24-icon.png) Media](https:\/\/www.cnb.com\/media.html)\n- [![](https:\/\/www.cnb.com\/content\/dam\/cnb\/global-assets\/images\/icons\/topnav_contactus.svg) Contact Us](https:\/\/www.cnb.com\/contact-us.html)\n- [![](https:\/\/www.cnb.com\/content\/dam\/cnb\/global-assets\/images\/icons\/topnav_locations.svg) Locations](https:\/\/locations.cnb.com\/)\n\n[![City National Bank's logo](https:\/\/s7d2.scene7.com\/is\/content\/citynationalbank\/city-national-bank-logo?ts=1771449227736&dpr=off)](https:\/\/www.cnb.com\/)\n\n- [Personal](https:\/\/www.cnb.com\/personal-banking.html \"Personal\")\n  - [Bank Accounts](https:\/\/www.cnb.com\/personal-banking\/accounts.html \"Bank Accounts\")\n    - [Checking](https:\/\/www.cnb.com\/personal-banking\/accounts\/checking.html \"Checking\")\n    - [Savings](https:\/\/www.cnb.com\/personal-banking\/accounts\/savings.html \"Savings\")\n    - [Personal CDs](https:\/\/www.cnb.com\/personal-banking\/accounts\/certificates-of-deposit.html \"Personal CDs\")\n    - [Sweep Program](https:\/\/www.cnb.com\/personal-banking\/accounts\/sweep-program.html \"Sweep Program\")\n    - [View All](https:\/\/www.cnb.com\/personal-banking\/accounts.html)\n  - [Loans & Credit](https:\/\/www.cnb.com\/personal-banking\/lending.html \"Loans & Credit\")\n    - [Mortgages](https:\/\/www.cnb.com\/personal-banking\/lending\/mortgages.html \"Mortgages\")\n    - [Home Equity Loans](https:\/\/www.cnb.com\/personal-banking\/lending\/home-equity-loans.html \"Home Equity Loans\")\n    - [Loans & Lines of Credit](https:\/\/www.cnb.com\/personal-banking\/lending\/loans-lines-of-credit.html \"Loans & Lines of Credit\")\n    - [Credit Cards](https:\/\/www.cnb.com\/personal-banking\/lending\/credit-cards.html \"Credit Cards\")\n    - [View All](https:\/\/www.cnb.com\/personal-banking\/lending.html)\n  - [Wealth Management](https:\/\/www.cnb.com\/personal-banking\/wealth-management.html \"Wealth Management\")\n    - [Wealth Planning](https:\/\/www.cnb.com\/personal-banking\/wealth-management\/wealth-planning.html \"Wealth Planning\")\n    - [Portfolio Management](https:\/\/www.cnb.com\/personal-banking\/wealth-management\/portfolio-management.html \"Portfolio Management\")\n    - [Self-Directed Investing](https:\/\/www.cnb.com\/personal-banking\/wealth-management\/self-directed-investing.html \"Self-Directed Investing\")\n    - [Trust & Estate Services](https:\/\/www.cnb.com\/personal-banking\/wealth-management\/trust-estate.html \"Trust & Estate Services\")\n    - [Retirement Planning](https:\/\/www.cnb.com\/personal-banking\/wealth-management\/retirement-planning.html \"Retirement Planning\")\n    - [1031 Exchange Services](https:\/\/www.cnb.com\/personal-banking\/wealth-management\/1031-exchange-services.html \"1031 Exchange Services\")\n    - [View All](https:\/\/www.cnb.com\/personal-banking\/wealth-management.html)\n  - [International Banking](https:\/\/www.cnb.com\/personal-banking\/international-banking.html \"International Banking\")\n    - [International Wire Transfers](https:\/\/www.cnb.com\/personal-banking\/international-banking\/international-wire-transfers.html \"International Wire Transfers\")\n    - [Foreign Currency Accounts](https:\/\/www.cnb.com\/personal-banking\/international-banking\/foreign-currency-bank-accounts.html \"Foreign Currency Accounts\")\n    - [Currency Exchange](https:\/\/www.cnb.com\/personal-banking\/international-banking\/currency-exchange.html \"Currency Exchange\")\n    - [View All](https:\/\/www.cnb.com\/personal-banking\/international-banking.html)\n  - [Preferred Banking](https:\/\/www.cnb.com\/personal-banking\/preferred-banking.html \"Preferred Banking\")\n  - [Online & Mobile Banking](https:\/\/www.cnb.com\/personal-banking\/online-banking.html \"Online & Mobile Banking\")\n  - [Insights](https:\/\/www.cnb.com\/personal-banking\/insights.html \"Insights\")\n  - [View All](https:\/\/www.cnb.com\/personal-banking.html)\n  \n  [![Preferred Banking Icon](https:\/\/s7d2.scene7.com\/is\/content\/citynationalbank\/preferred-banking-icon-pbb?ts=1752185395489&dpr=off)](https:\/\/www.cnb.com\/personal-banking\/preferred-banking.html)\n  \n  [Preferred Banking](https:\/\/www.cnb.com\/personal-banking\/preferred-banking.html)\n  \n  Get the best of City National’s unparalleled service and advice, plus exclusive benefits.\n- [Business & Commercial](https:\/\/www.cnb.com\/business-banking.html \"Business & Commercial\")\n  - [Bank Accounts](https:\/\/www.cnb.com\/business-banking\/accounts.html \"Bank Accounts\")\n    - [Checking](https:\/\/www.cnb.com\/business-banking\/accounts\/checking.html \"Checking\")\n    - [Savings](https:\/\/www.cnb.com\/business-banking\/accounts\/savings.html \"Savings\")\n    - [Business CDs](https:\/\/www.cnb.com\/business-banking\/accounts\/certificates-of-deposit.html \"Business CDs\")\n    - [Sweep Program](https:\/\/www.cnb.com\/business-banking\/accounts\/bank-deposit-sweep-program.html \"Sweep Program\")\n    - [View All](https:\/\/www.cnb.com\/business-banking\/accounts.html)\n  - [Loans & Credit](https:\/\/www.cnb.com\/business-banking\/lending.html \"Loans & Credit\")\n    - [SBA Lending](https:\/\/www.cnb.com\/business-banking\/lending\/sba-loans.html \"SBA Lending\")\n    - [Business Lines of Credit](https:\/\/www.cnb.com\/business-banking\/lending\/lines-of-credit.html \"Business Lines of Credit\")\n    - [Asset-Based Lending](https:\/\/www.cnb.com\/business-banking\/lending\/asset-based-lending.html \"Asset-Based Lending\")\n    - [Equipment Financing](https:\/\/www.cnb.com\/business-banking\/lending\/equipment-financing.html \"Equipment Financing\")\n    - [Credit Cards](https:\/\/www.cnb.com\/business-banking\/lending\/credit-cards.html \"Credit Cards\")\n    - [View All](https:\/\/www.cnb.com\/business-banking\/lending.html)\n  - [Treasury Management](https:\/\/www.cnb.com\/business-banking\/treasury-management.html \"Treasury Management\")\n    - [Accounting Integration](https:\/\/www.cnb.com\/business-banking\/treasury-management\/accounting-integration.html \"Accounting Integration\")\n    - [Management & Reporting](https:\/\/www.cnb.com\/business-banking\/treasury-management\/account-management-reporting.html \"Management & Reporting\")\n    - [Liquidity Management](https:\/\/www.cnb.com\/business-banking\/treasury-management\/liquidity-management.html \"Liquidity Management\")\n    - [Payments](https:\/\/www.cnb.com\/business-banking\/treasury-management\/payments.html \"Payments\")\n    - [Receivables](https:\/\/www.cnb.com\/business-banking\/treasury-management\/receivables.html \"Receivables\")\n    - [Working Capital Advisory](https:\/\/www.cnb.com\/business-banking\/treasury-management\/working-capital-advisory.html \"Working Capital Advisory\")\n    - [View All](https:\/\/www.cnb.com\/business-banking\/treasury-management.html)\n  - [Capital Markets](https:\/\/www.cnb.com\/business-banking\/capital-markets.html \"Capital Markets\")\n    - [Loan Syndications](https:\/\/www.cnb.com\/business-banking\/capital-markets\/loan-syndications.html \"Loan Syndications\")\n    - [Interest Rate Hedging](https:\/\/www.cnb.com\/business-banking\/capital-markets\/interest-rate-hedging.html \"Interest Rate Hedging\")\n    - [Foreign Exchange](https:\/\/www.cnb.com\/business-banking\/capital-markets\/foreign-exchange.html \"Foreign Exchange\")\n    - [International Trade Services](https:\/\/www.cnb.com\/business-banking\/capital-markets\/international-trade-services.html \"International Trade Services\")\n    - [Supply Chain Finance](https:\/\/www.cnb.com\/business-banking\/capital-markets\/supply-chain-finance.html \"Supply Chain Finance\")\n    - [View All](https:\/\/www.cnb.com\/business-banking\/capital-markets.html)\n  - [Software Solutions](https:\/\/www.cnb.com\/business-banking\/software-solutions.html \"Software Solutions\")\n  - [Insights](https:\/\/www.cnb.com\/business-banking\/insights.html \"Insights\")\n  - [Media](https:\/\/www.cnb.com\/business-banking\/media.html \"Media\")\n  - [View All](https:\/\/www.cnb.com\/business-banking.html)\n  \n  [![work-with-us-1920x1440](https:\/\/s7d2.scene7.com\/is\/image\/citynationalbank\/work-with-us-1920x1440?qlt=85&ts=1771450001274&dpr=off)](https:\/\/www.cnb.com\/industries-we-serve.html)\n  \n  [Tailored Banking Solutions](https:\/\/www.cnb.com\/industries-we-serve.html)\n  \n  View our comprehensive offerings based on your industry and your needs.\n- [Private Banking](https:\/\/www.cnb.com\/private-banking.html \"Private Banking\")\n  - [Who We Serve](https:\/\/www.cnb.com\/private-banking\/clients.html \"Who We Serve\")\n    - [Families & Individuals](https:\/\/www.cnb.com\/private-banking\/clients\/families-individuals.html \"Families & Individuals\")\n    - [Business Owners](https:\/\/www.cnb.com\/private-banking\/clients\/business-owners.html \"Business Owners\")\n    - [Law Firms & Attorneys](https:\/\/www.cnb.com\/private-banking\/clients\/law-firms.html \"Law Firms & Attorneys\")\n    - [Private Equity Firms](https:\/\/www.cnb.com\/private-banking\/clients\/private-equity-firms.html \"Private Equity Firms\")\n    - [View All](https:\/\/www.cnb.com\/private-banking\/clients.html)\n  - [Services](https:\/\/www.cnb.com\/private-banking\/services.html \"Services\")\n    - [Banking](https:\/\/www.cnb.com\/private-banking\/services\/banking-solutions.html \"Banking\")\n    - [Credit & Lending](https:\/\/www.cnb.com\/private-banking\/services\/credit-lending-solutions.html \"Credit & Lending\")\n    - [Investment Management](https:\/\/www.cnb.com\/private-banking\/services\/investment-management.html \"Investment Management\")\n    - [Trust & Estate Services](https:\/\/www.cnb.com\/private-banking\/services\/trust-estate-services.html \"Trust & Estate Services\")\n    - [Wealth Planning](https:\/\/www.cnb.com\/private-banking\/services\/wealth-planning.html \"Wealth Planning\")\n    - [View All](https:\/\/www.cnb.com\/private-banking\/services.html)\n  - [View All](https:\/\/www.cnb.com\/private-banking.html)\n  \n  [![bank-accounts-icon-private.svg](https:\/\/s7d2.scene7.com\/is\/content\/citynationalbank\/bank-accounts-icon-private?ts=1752185394804&dpr=off)](https:\/\/www.cnb.com\/private-banking.html)\n  \n  [Our Approach](https:\/\/www.cnb.com\/private-banking.html)\n  \n  Your purpose is our passion. We get to know you on a deeper level, working with you to enhance your financial well-being.\n- [Industries We Serve](https:\/\/www.cnb.com\/industries-we-serve.html \"Industries We Serve\")\n  - [Attorneys & Law Firms](https:\/\/www.cnb.com\/industries-we-serve\/attorneys-law-firms.html \"Attorneys & Law Firms\")\n  - [Commercial Real Estate](https:\/\/www.cnb.com\/industries-we-serve\/real-estate.html \"Commercial Real Estate\")\n  - [Family Office](https:\/\/www.cnb.com\/industries-we-serve\/family-office.html \"Family Office\")\n  - [Food & Beverage](https:\/\/www.cnb.com\/industries-we-serve\/food-beverage.html \"Food & Beverage\")\n  - [Franchise Finance](https:\/\/www.cnb.com\/industries-we-serve\/franchise-finance.html \"Franchise Finance\")\n  - [Fund Finance](https:\/\/www.cnb.com\/industries-we-serve\/fund-finance.html \"Fund Finance\")\n  - [Healthcare](https:\/\/www.cnb.com\/industries-we-serve\/healthcare.html \"Healthcare\")\n  - [Nonprofit & Institutional](https:\/\/www.cnb.com\/industries-we-serve\/nonprofits.html \"Nonprofit & Institutional\")\n  - [Property Management & HOA](https:\/\/www.cnb.com\/industries-we-serve\/hoa-property-management.html \"Property Management & HOA\")\n  - [Renewable Energy](https:\/\/www.cnb.com\/industries-we-serve\/renewable-energy.html \"Renewable Energy\")\n  - [Technology](https:\/\/www.cnb.com\/industries-we-serve\/tech-industry.html \"Technology\")\n  - [Title & Escrow](https:\/\/www.cnb.com\/industries-we-serve\/title-escrow.html \"Title & Escrow\")\n  - [View All](https:\/\/www.cnb.com\/industries-we-serve.html)\n  \n  [![Talent Escrows](https:\/\/s7d2.scene7.com\/is\/content\/citynationalbank\/talent-escrows?ts=1752185464739&dpr=off)](https:\/\/www.cnb.com\/industries-we-serve\/entertainment.html)\n  \n  [Entertainment & Sports](https:\/\/www.cnb.com\/industries-we-serve\/entertainment.html)\n  \n  From Hollywood to Broadway, the entertainment and sports business is our business.\n\n[SIGN IN](https:\/\/cno.cnb.com\/login\/)\n\n[![City National Bank Logo](https:\/\/s7d2.scene7.com\/is\/content\/citynationalbank\/city-national-bank-logo?ts=1771449227736&dpr=off)](https:\/\/www.cnb.com\/home.html)\n\n[SIGN IN](https:\/\/cno.cnb.com\/login\/)\n\n- [Personal Banking](https:\/\/www.cnb.com\/personal-banking.html \"Personal Banking\")\n  - [Bank Accounts](https:\/\/www.cnb.com\/personal-banking\/accounts.html \"Bank Accounts\")\n    - [Checking](https:\/\/www.cnb.com\/personal-banking\/accounts\/checking.html \"Checking\")\n    - [Savings](https:\/\/www.cnb.com\/personal-banking\/accounts\/savings.html \"Savings\")\n    - [Personal CDs](https:\/\/www.cnb.com\/personal-banking\/accounts\/certificates-of-deposit.html \"Personal CDs\")\n    - [Sweep Program](https:\/\/www.cnb.com\/personal-banking\/accounts\/sweep-program.html \"Sweep Program\")\n    - [View All](https:\/\/www.cnb.com\/personal-banking\/accounts.html)\n  - [Loans & Credit](https:\/\/www.cnb.com\/personal-banking\/lending.html \"Loans & Credit\")\n    - [Mortgages](https:\/\/www.cnb.com\/personal-banking\/lending\/mortgages.html \"Mortgages\")\n    - [Home Equity Loans](https:\/\/www.cnb.com\/personal-banking\/lending\/home-equity-loans.html \"Home Equity Loans\")\n    - [Loans & Lines of Credit](https:\/\/www.cnb.com\/personal-banking\/lending\/loans-lines-of-credit.html \"Loans & Lines of Credit\")\n    - 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Over recent years, cryptocurrencies such as Bitcoin and Ethereum have made headlines for its [considerable volatility and risk](https:\/\/disb.dc.gov\/page\/you-invest-crypto-know-risks \"DISB - Crypto Risks\").\n\nWhile many people are drawn to cryptocurrency, it carries significant peril. For example, crypto holdings are not insured by the Federal Deposit Insurance Corporation (FDIC), which does insure traditional bank deposits in accounts such as checking and savings. This means that a crypto investor assumes a considerable risk of losing their money during a crash.\n\nBut that isn't where the risk ends. The world of cryptocurrency has created a new environment for scammers to steal from others.\n\nIn 2023, cryptocurrency investment fraud losses rose to \\$3.94 billion, an increase of 53% from the previous year, according to a 2024 [report](https:\/\/www.fbi.gov\/contact-us\/field-offices\/sanfrancisco\/news\/fbi-releases-internet-crime-report \"FBI - Internet Crime Report\") from the FBI’s Internet Crime Complaint Center.\n\nIn an increasingly digital world, it’s important to learn how to spot a bitcoin scam or any kind of crypto scam. The information below can help you get started with protecting yourself.\n\n## Types of Cryptocurrency Scams to Watch\nIf you decide to take on the considerable risks associated with investing in cryptocurrencies, you should take every step possible to prevent yourself from falling victim to scammers. Part of this process is familiarizing yourself with some of the most common scams involving crypto.\n\nHere are a few to know about.\n\n### Fake Cryptocurrency Websites\nScammers often spoof a legitimate cryptocurrency website or create a fake website to trick victims into purchasing cryptocurrency. It may have a similar design to an official website, but the domain name will be slightly different from the legitimate one.\n\nThe fake website may include fake testimonials, fake trading platforms and trading records. Once a person pays money to these websites, they might find it impossible to recover their lost funds.\n\n**Crypto Phishing Scams**\n\nFake websites often help scammers accomplish something known as phishing. In short, phishing is the process of tricking a person to provide personal information.\n\nIn the case of crypto, scammers often use fake websites to try to obtain access to a person's cryptocurrency wallet. During this process, they'll send you an email or a text with a link to their fake site. Always verify the validity of any site before entering sensitive information into it.\n\n### Fake Celebrity Endorsements\nSome scammers will post pictures of a celebrity or influencer, falsely claiming that the celebrity made a lot of money using their financial services app or program. These organizations might contact you through social media, sending you links or [QR codes](https:\/\/www.cnb.com\/personal-banking\/insights\/qr-code-fraud.html \"City National Bank - QR Code Scams\"). Their hope is that the false celebrity endorsement will be enough to convince you that the scheme is real.\n\nIf you click the link, bogus financial services will pressure you to open a cryptocurrency account by downloading their app. In some cases, this app may enable remote access to your device, allowing fraudsters access to your funds.\n\n### Ponzi Schemes\nWhile Ponzi schemes have been around for decades, they've found new life in the crypto era. In a Ponzi scheme, scammers attempt to recruit you as an investor in what appears to be a legitimate cryptocurrency portfolio. The scammers will continue to recruit new investors, securing more money and — thanks to their accrual of funds — the appearance of legitimacy.\n\nInstead of investing in a cryptocurrency portfolio as promised, they'll use the funds to pay out the initial investors and pocket the rest. Since early investors might receive consistent high returns, they can unknowingly legitimize the Ponzi scheme by endorsing it. Scammers will falsify documents and fabricate account statements to keep the scheme going and recruit more investors.\n\n### Cryptocurrency Donations\nIt's possible for individuals or corporations to donate cryptocurrency investments to legitimate charitable organizations. This means that it's also possible for scammers to pose as those organizations.\n\nDuring this scheme, scammers will often set up a fake website that poses as a legitimate charity or, in some cases, a [completely made up one](https:\/\/www.fox10tv.com\/2023\/11\/28\/fbi-issues-fake-charity-scam-warning\/ \"Fox - Charity Scam\"). These websites focus on one objective: Taking advantage of a person's charitable inclinations to steal their money.\n\n### Rug Pull Scams\nAlso known as pump-and-dump schemes, these scams involve a fraudster who promotes a crypto product to boost its price. They then take the investors’ money and quietly shut down the project, leaving investors with worthless crypto coins.\n\n### Blackmail Scams\nScammers will sometimes try to blackmail an individual by saying they have compromising photos or videos of the person and will request payment with cryptocurrency to avoid them sending the compromising images to others.\n\nWhen this happens, the [FTC advises](https:\/\/consumer.ftc.gov\/consumer-alerts\/2020\/06\/cryptocurrency-blackmail-scam-alert \"FTC - Crypto Blackmail Scam\") that you ignore the scammer's threats and [report the crime to the FBI](https:\/\/www.fbi.gov\/contact-us \"FBI - Contact\").\n\n### Business Opportunity Scam\nSome scammers will promote fake business opportunities which they often say will make you significant amounts of money with minimal investments of funds or time. During this scheme, a scammer will often act as if the matter is urgent in an attempt to pressure you into providing payment.\n\n### Romance Scams\nRomance scams sadly exploit the hopes and trust of individuals, [including the elderly](https:\/\/www.cnb.com\/personal-banking\/insights\/prevent-elder-fraud.html \"City National Bank - Help Prevent Elder Fraud\"). During these schemes, a scammer starts a romantic relationship with the victim via email or text. Once the victim’s feelings are involved, the scammer will try to get them to send money for various made up reasons.\n\n## How to Help Detect and Prevent Crypto Scams\nInvesting in cryptocurrency might offer the potential for enormous gains, but it’s crucial to take steps to protect yourself and your money. Consider five tips for protecting yourself from crypto scams.\n\n**Stay informed about cryptocurrency and scams.** There are thousands of cryptocurrencies available, and each type provides different ways to purchase and store it. With so many options available, it’s important to educate yourself on the process of purchasing and selling the options you choose.\n\nIn addition, you should always stay up-to-date about common scams in cryptocurrency markets and be aware of how scammers are approaching investors. If you are contacted to buy or sell cryptocurrency, be extremely cautious about responding and if there's a hint of doubt - don't.\n\n**Do your due diligence.** Never invest in a new cryptocurrency or initial coin offering (ICO) without doing thorough research. Be skeptical of any cryptocurrency platform that promotes a guaranteed return. Remember, there's no such thing as a free lunch.\n\n**Use reputable wallets with robust security features.** When you own cryptocurrency, you can only access your holdings with your private \"key,\" which is the password that gives you access to your money. Most crypto investors use a crypto wallet that keeps their private keys protected and accessible. Make sure you only use a crypto wallet that has robust security features—because anyone who gains access to your private keys will immediately have access to your crypto funds.\n\n**Practice good cyber hygiene.** Use [long passwords](https:\/\/www.cnb.com\/personal-banking\/insights\/secure-password-guide.html \"City National Bank - Making Strong Passwords\"), two-factor authentication and update all your software in a timely manner. Do not share your private keys with anyone. If you share your private key with someone, they can access your cryptocurrency wallet, allowing coins to be withdrawn or transferred.\n\n**Check out charities before making a donation.** Verify any charitable organization by searching online. Websites like [Charity Navigator](https:\/\/www.charitynavigator.org\/ \"Charity Navigator\"), [Charity Watch](https:\/\/www.charitywatch.org\/) and the Better Business Bureau’s [Wise Giving Alliance](https:\/\/give.org\/ \"BBB Wise Giving Alliance\") will post details about legitimate organizations and the causes they support.\n\n## How to Report a Cryptocurrency Scam\nIt's important to remember that investing in cryptocurrency is inherently risky, even when scams aren't a factor. If you've chosen to take on the risk associated with investing in crypto, you need to protect yourself if you believe you've been scammed.\n\nIf you suspect a crypto scam or believe you’ve been the victim of a crypto scam, visit the [FBI page about reporting cryptocurrency scams](https:\/\/www.ic3.gov\/Media\/Y2023\/PSA230824 \"FBI - Guidance for Cryptocurrency Scam Victims\") to find out what to do for your specific information.\n***\n***\n## Explore More\n- [![Money covered giftbox wrapped in a blue blow](https:\/\/s7d2.scene7.com\/is\/image\/citynationalbank\/intra-family-loans) Wealth Transfer Using Intra-family Loans to Transfer Your Wealth 5 min read](https:\/\/www.cnb.com\/personal-banking\/insights\/intra-family-loans.html)\n- [![Human figurines standing on stacks of coins](https:\/\/s7d2.scene7.com\/is\/image\/citynationalbank\/purposeful-planning) Trust & Estate Planning What is Purposeful Planning? What You Need to Know 5 min read](https:\/\/www.cnb.com\/personal-banking\/insights\/what-is-purposeful-planning.html)\n- [![Seesaw with piggy bank versus shopping cart](https:\/\/s7d2.scene7.com\/is\/image\/citynationalbank\/financial-personality-options) Wealth Management What is Your Financial Personality Type? 4 min read](https:\/\/www.cnb.com\/personal-banking\/insights\/financial-personality-types.html)\n- [![Multiple arrows pointing up with a percent symbol](https:\/\/s7d2.scene7.com\/is\/image\/citynationalbank\/ca-property-taxes) Tax Prep 2025 Property Taxes in California: What You Should Know 4 min read](https:\/\/www.cnb.com\/personal-banking\/insights\/tax-assessments-on-california-homes.html)\n- [![filing tabs with years on them](https:\/\/s7d2.scene7.com\/is\/image\/citynationalbank\/tax-documents-to-keep) Tax Prep How Long to Keep Tax Records 3 min read](https:\/\/www.cnb.com\/personal-banking\/insights\/keeping-tax-documents.html)\n- [![](https:\/\/s7d2.scene7.com\/is\/image\/citynationalbank\/spend-tax-refund) Tax Prep How to Use Your Tax Refund Wisely 3 min read](https:\/\/www.cnb.com\/personal-banking\/insights\/how-to-use-your-tax-refund-wisely.html)\n\n[BROWSE ALL INSIGHTS](https:\/\/www.cnb.com\/personal-banking\/insights.html)\n***\nThis article is for general information and education only. It is provided as a courtesy to the clients and friends of City National Bank (City National). City National does not warrant that it is accurate or complete. Opinions expressed and estimates or projections given are those of the authors or persons quoted as of the date of the article with no obligation to update or notify of inaccuracy or change. This article may not be reproduced, distributed or further published by any person without the written consent of City National. Please cite source.\n\nThis article is for general information and education only. It is not to be construed as an offer, or solicitation of an offer, to buy or sell any financial instrument. It should not be relied upon as specific investment advice directed to the reader's specific investment objectives. Any financial instrument discussed in this article may not be suitable for the reader. Each reader must make his or her own investment decision, using an independent advisor if prudent, based on his or her own investment objective and financial situation. Prices and availability of financial instruments are subject to change without notice. Financial instruments denominated in a foreign currency are subject to exchange rate risk in addition to the risk of the investment. City National Bank (and its clients or associated persons) may, at times, engage in transactions in a manner inconsistent with this article and, with respect to particular securities and financial instruments discussed, may buy from or sell to clients or others on a principal basis. Past performance is not necessarily an indication of future results. City National, its managed affiliates and subsidiaries, as a matter of policy, do not give tax, accounting, regulatory or legal advice. Rules in the areas of law, tax, and accounting are subject to change and open to varying interpretations. 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Registration as an investment adviser does not imply any level of skill or expertise. City National Bank is a subsidiary of the Royal Bank of Canada. City National Bank provides investment management services through its subadvisory relationship with RBC Rochdale. Brokerage services are provided through RBC Securities, Inc., a wholly-owned subsidiary of City National Bank and Member [FINRA](https:\/\/www.finra.org\/ \"FINRA website\") \/ [SIPC](https:\/\/www.sipc.org\/ \"SIPC website\").\n\nCity National Bank does business in the state of Florida as CN Bank.\n\nApp Store is a registered trademark of Apple, Inc. Google Play is a trademark of Google LLC.\n\n![Equal Housing Lender](https:\/\/www.cnb.com\/content\/dam\/cnb\/global-assets\/images\/icons\/product\/equal-housing-oppurtunity.svg)\n\nEqual Housing Lender \\| NMLSR ID\\# 536994\n\n©2026\n\nCity National Bank. 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Please check <http:\/\/www.enable-javascript.com> to learn how to enable JavaScript on your browser and enjoy the best experience.","attrs_readable_markdown":"Cryptocurrency, also known as crypto, is digital currency that is encrypted and decentralized. Over recent years, cryptocurrencies such as Bitcoin and Ethereum have made headlines for its [considerable volatility and risk](https:\/\/disb.dc.gov\/page\/you-invest-crypto-know-risks \"DISB - Crypto Risks\").\n\nWhile many people are drawn to cryptocurrency, it carries significant peril. For example, crypto holdings are not insured by the Federal Deposit Insurance Corporation (FDIC), which does insure traditional bank deposits in accounts such as checking and savings. This means that a crypto investor assumes a considerable risk of losing their money during a crash.\n\nBut that isn't where the risk ends. The world of cryptocurrency has created a new environment for scammers to steal from others.\n\nIn 2023, cryptocurrency investment fraud losses rose to \\$3.94 billion, an increase of 53% from the previous year, according to a 2024 [report](https:\/\/www.fbi.gov\/contact-us\/field-offices\/sanfrancisco\/news\/fbi-releases-internet-crime-report \"FBI - Internet Crime Report\") from the FBI’s Internet Crime Complaint Center.\n\nIn an increasingly digital world, it’s important to learn how to spot a bitcoin scam or any kind of crypto scam. The information below can help you get started with protecting yourself.\n\n## Types of Cryptocurrency Scams to Watch\nIf you decide to take on the considerable risks associated with investing in cryptocurrencies, you should take every step possible to prevent yourself from falling victim to scammers. Part of this process is familiarizing yourself with some of the most common scams involving crypto.\n\nHere are a few to know about.\n\n### Fake Cryptocurrency Websites\nScammers often spoof a legitimate cryptocurrency website or create a fake website to trick victims into purchasing cryptocurrency. It may have a similar design to an official website, but the domain name will be slightly different from the legitimate one.\n\nThe fake website may include fake testimonials, fake trading platforms and trading records. Once a person pays money to these websites, they might find it impossible to recover their lost funds.\n\n**Crypto Phishing Scams**\n\nFake websites often help scammers accomplish something known as phishing. In short, phishing is the process of tricking a person to provide personal information.\n\nIn the case of crypto, scammers often use fake websites to try to obtain access to a person's cryptocurrency wallet. During this process, they'll send you an email or a text with a link to their fake site. Always verify the validity of any site before entering sensitive information into it.\n\n### Fake Celebrity Endorsements\nSome scammers will post pictures of a celebrity or influencer, falsely claiming that the celebrity made a lot of money using their financial services app or program. These organizations might contact you through social media, sending you links or [QR codes](https:\/\/www.cnb.com\/personal-banking\/insights\/qr-code-fraud.html \"City National Bank - QR Code Scams\"). Their hope is that the false celebrity endorsement will be enough to convince you that the scheme is real.\n\nIf you click the link, bogus financial services will pressure you to open a cryptocurrency account by downloading their app. In some cases, this app may enable remote access to your device, allowing fraudsters access to your funds.\n\n### Ponzi Schemes\nWhile Ponzi schemes have been around for decades, they've found new life in the crypto era. In a Ponzi scheme, scammers attempt to recruit you as an investor in what appears to be a legitimate cryptocurrency portfolio. The scammers will continue to recruit new investors, securing more money and — thanks to their accrual of funds — the appearance of legitimacy.\n\nInstead of investing in a cryptocurrency portfolio as promised, they'll use the funds to pay out the initial investors and pocket the rest. Since early investors might receive consistent high returns, they can unknowingly legitimize the Ponzi scheme by endorsing it. Scammers will falsify documents and fabricate account statements to keep the scheme going and recruit more investors.\n\n### Cryptocurrency Donations\nIt's possible for individuals or corporations to donate cryptocurrency investments to legitimate charitable organizations. This means that it's also possible for scammers to pose as those organizations.\n\nDuring this scheme, scammers will often set up a fake website that poses as a legitimate charity or, in some cases, a [completely made up one](https:\/\/www.fox10tv.com\/2023\/11\/28\/fbi-issues-fake-charity-scam-warning\/ \"Fox - Charity Scam\"). These websites focus on one objective: Taking advantage of a person's charitable inclinations to steal their money.\n\n### Rug Pull Scams\nAlso known as pump-and-dump schemes, these scams involve a fraudster who promotes a crypto product to boost its price. They then take the investors’ money and quietly shut down the project, leaving investors with worthless crypto coins.\n\n### Blackmail Scams\nScammers will sometimes try to blackmail an individual by saying they have compromising photos or videos of the person and will request payment with cryptocurrency to avoid them sending the compromising images to others.\n\nWhen this happens, the [FTC advises](https:\/\/consumer.ftc.gov\/consumer-alerts\/2020\/06\/cryptocurrency-blackmail-scam-alert \"FTC - Crypto Blackmail Scam\") that you ignore the scammer's threats and [report the crime to the FBI](https:\/\/www.fbi.gov\/contact-us \"FBI - Contact\").\n\n### Business Opportunity Scam\nSome scammers will promote fake business opportunities which they often say will make you significant amounts of money with minimal investments of funds or time. During this scheme, a scammer will often act as if the matter is urgent in an attempt to pressure you into providing payment.\n\n### Romance Scams\nRomance scams sadly exploit the hopes and trust of individuals, [including the elderly](https:\/\/www.cnb.com\/personal-banking\/insights\/prevent-elder-fraud.html \"City National Bank - Help Prevent Elder Fraud\"). During these schemes, a scammer starts a romantic relationship with the victim via email or text. Once the victim’s feelings are involved, the scammer will try to get them to send money for various made up reasons.\n\n## How to Help Detect and Prevent Crypto Scams\nInvesting in cryptocurrency might offer the potential for enormous gains, but it’s crucial to take steps to protect yourself and your money. Consider five tips for protecting yourself from crypto scams.\n\n**Stay informed about cryptocurrency and scams.** There are thousands of cryptocurrencies available, and each type provides different ways to purchase and store it. With so many options available, it’s important to educate yourself on the process of purchasing and selling the options you choose.\n\nIn addition, you should always stay up-to-date about common scams in cryptocurrency markets and be aware of how scammers are approaching investors. If you are contacted to buy or sell cryptocurrency, be extremely cautious about responding and if there's a hint of doubt - don't.\n\n**Do your due diligence.** Never invest in a new cryptocurrency or initial coin offering (ICO) without doing thorough research. Be skeptical of any cryptocurrency platform that promotes a guaranteed return. Remember, there's no such thing as a free lunch.\n\n**Use reputable wallets with robust security features.** When you own cryptocurrency, you can only access your holdings with your private \"key,\" which is the password that gives you access to your money. Most crypto investors use a crypto wallet that keeps their private keys protected and accessible. Make sure you only use a crypto wallet that has robust security features—because anyone who gains access to your private keys will immediately have access to your crypto funds.\n\n**Practice good cyber hygiene.** Use [long passwords](https:\/\/www.cnb.com\/personal-banking\/insights\/secure-password-guide.html \"City National Bank - Making Strong Passwords\"), two-factor authentication and update all your software in a timely manner. Do not share your private keys with anyone. If you share your private key with someone, they can access your cryptocurrency wallet, allowing coins to be withdrawn or transferred.\n\n**Check out charities before making a donation.** Verify any charitable organization by searching online. Websites like [Charity Navigator](https:\/\/www.charitynavigator.org\/ \"Charity Navigator\"), [Charity Watch](https:\/\/www.charitywatch.org\/) and the Better Business Bureau’s [Wise Giving Alliance](https:\/\/give.org\/ \"BBB Wise Giving Alliance\") will post details about legitimate organizations and the causes they support.\n\n## How to Report a Cryptocurrency Scam\nIt's important to remember that investing in cryptocurrency is inherently risky, even when scams aren't a factor. If you've chosen to take on the risk associated with investing in crypto, you need to protect yourself if you believe you've been scammed.\n\nIf you suspect a crypto scam or believe you’ve been the victim of a crypto scam, visit the [FBI page about reporting cryptocurrency scams](https:\/\/www.ic3.gov\/Media\/Y2023\/PSA230824 \"FBI - Guidance for Cryptocurrency Scam Victims\") to find out what to do for your specific information.","meta_canonical":null}

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URL	https://www.cnb.com/personal-banking/insights/crypto-scams.html
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First Indexed	2024-06-29 09:17:44 (1 year ago)
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Meta Title	How to Help Spot a Crypto Scam \| City National Bank
Meta Description	Investing in cryptocurrency is already risky enough, and scammers are working hard to add to its dangers. And their efforts are paying the off to the tune of billions. Learn more about how to help spot crypto scams.
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Boilerpipe Text	Cryptocurrency, also known as crypto, is digital currency that is encrypted and decentralized. Over recent years, cryptocurrencies such as Bitcoin and Ethereum have made headlines for its considerable volatility and risk . While many people are drawn to cryptocurrency, it carries significant peril. For example, crypto holdings are not insured by the Federal Deposit Insurance Corporation (FDIC), which does insure traditional bank deposits in accounts such as checking and savings. This means that a crypto investor assumes a considerable risk of losing their money during a crash. But that isn't where the risk ends. The world of cryptocurrency has created a new environment for scammers to steal from others. In 2023, cryptocurrency investment fraud losses rose to $3.94 billion, an increase of 53% from the previous year, according to a 2024 report from the FBI’s Internet Crime Complaint Center. In an increasingly digital world, it’s important to learn how to spot a bitcoin scam or any kind of crypto scam. The information below can help you get started with protecting yourself. Types of Cryptocurrency Scams to Watch If you decide to take on the considerable risks associated with investing in cryptocurrencies, you should take every step possible to prevent yourself from falling victim to scammers. Part of this process is familiarizing yourself with some of the most common scams involving crypto. Here are a few to know about. Fake Cryptocurrency Websites Scammers often spoof a legitimate cryptocurrency website or create a fake website to trick victims into purchasing cryptocurrency. It may have a similar design to an official website, but the domain name will be slightly different from the legitimate one. The fake website may include fake testimonials, fake trading platforms and trading records. Once a person pays money to these websites, they might find it impossible to recover their lost funds. Crypto Phishing Scams Fake websites often help scammers accomplish something known as phishing. In short, phishing is the process of tricking a person to provide personal information. In the case of crypto, scammers often use fake websites to try to obtain access to a person's cryptocurrency wallet. During this process, they'll send you an email or a text with a link to their fake site. Always verify the validity of any site before entering sensitive information into it. Fake Celebrity Endorsements Some scammers will post pictures of a celebrity or influencer, falsely claiming that the celebrity made a lot of money using their financial services app or program. These organizations might contact you through social media, sending you links or QR codes . Their hope is that the false celebrity endorsement will be enough to convince you that the scheme is real. If you click the link, bogus financial services will pressure you to open a cryptocurrency account by downloading their app. In some cases, this app may enable remote access to your device, allowing fraudsters access to your funds. Ponzi Schemes While Ponzi schemes have been around for decades, they've found new life in the crypto era. In a Ponzi scheme, scammers attempt to recruit you as an investor in what appears to be a legitimate cryptocurrency portfolio. The scammers will continue to recruit new investors, securing more money and — thanks to their accrual of funds — the appearance of legitimacy. Instead of investing in a cryptocurrency portfolio as promised, they'll use the funds to pay out the initial investors and pocket the rest. Since early investors might receive consistent high returns, they can unknowingly legitimize the Ponzi scheme by endorsing it. Scammers will falsify documents and fabricate account statements to keep the scheme going and recruit more investors. Cryptocurrency Donations It's possible for individuals or corporations to donate cryptocurrency investments to legitimate charitable organizations. This means that it's also possible for scammers to pose as those organizations. During this scheme, scammers will often set up a fake website that poses as a legitimate charity or, in some cases, a completely made up one . These websites focus on one objective: Taking advantage of a person's charitable inclinations to steal their money. Rug Pull Scams Also known as pump-and-dump schemes, these scams involve a fraudster who promotes a crypto product to boost its price. They then take the investors’ money and quietly shut down the project, leaving investors with worthless crypto coins. Blackmail Scams Scammers will sometimes try to blackmail an individual by saying they have compromising photos or videos of the person and will request payment with cryptocurrency to avoid them sending the compromising images to others. When this happens, the FTC advises that you ignore the scammer's threats and report the crime to the FBI . Business Opportunity Scam Some scammers will promote fake business opportunities which they often say will make you significant amounts of money with minimal investments of funds or time. During this scheme, a scammer will often act as if the matter is urgent in an attempt to pressure you into providing payment. Romance Scams Romance scams sadly exploit the hopes and trust of individuals, including the elderly . During these schemes, a scammer starts a romantic relationship with the victim via email or text. Once the victim’s feelings are involved, the scammer will try to get them to send money for various made up reasons. How to Help Detect and Prevent Crypto Scams Investing in cryptocurrency might offer the potential for enormous gains, but it’s crucial to take steps to protect yourself and your money. Consider five tips for protecting yourself from crypto scams. Stay informed about cryptocurrency and scams. There are thousands of cryptocurrencies available, and each type provides different ways to purchase and store it. With so many options available, it’s important to educate yourself on the process of purchasing and selling the options you choose. In addition, you should always stay up-to-date about common scams in cryptocurrency markets and be aware of how scammers are approaching investors. If you are contacted to buy or sell cryptocurrency, be extremely cautious about responding and if there's a hint of doubt - don't. Do your due diligence. Never invest in a new cryptocurrency or initial coin offering (ICO) without doing thorough research. Be skeptical of any cryptocurrency platform that promotes a guaranteed return. Remember, there's no such thing as a free lunch. Use reputable wallets with robust security features. When you own cryptocurrency, you can only access your holdings with your private "key," which is the password that gives you access to your money. Most crypto investors use a crypto wallet that keeps their private keys protected and accessible. Make sure you only use a crypto wallet that has robust security features—because anyone who gains access to your private keys will immediately have access to your crypto funds. Practice good cyber hygiene. Use long passwords , two-factor authentication and update all your software in a timely manner. Do not share your private keys with anyone. If you share your private key with someone, they can access your cryptocurrency wallet, allowing coins to be withdrawn or transferred. Check out charities before making a donation. Verify any charitable organization by searching online. Websites like Charity Navigator , Charity Watch and the Better Business Bureau’s Wise Giving Alliance will post details about legitimate organizations and the causes they support. How to Report a Cryptocurrency Scam It's important to remember that investing in cryptocurrency is inherently risky, even when scams aren't a factor. If you've chosen to take on the risk associated with investing in crypto, you need to protect yourself if you believe you've been scammed. If you suspect a crypto scam or believe you’ve been the victim of a crypto scam, visit the FBI page about reporting cryptocurrency scams to find out what to do for your specific information.
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Over recent years, cryptocurrencies such as Bitcoin and Ethereum have made headlines for its [considerable volatility and risk](https://disb.dc.gov/page/you-invest-crypto-know-risks "DISB - Crypto Risks"). While many people are drawn to cryptocurrency, it carries significant peril. For example, crypto holdings are not insured by the Federal Deposit Insurance Corporation (FDIC), which does insure traditional bank deposits in accounts such as checking and savings. This means that a crypto investor assumes a considerable risk of losing their money during a crash. But that isn't where the risk ends. The world of cryptocurrency has created a new environment for scammers to steal from others. In 2023, cryptocurrency investment fraud losses rose to \$3.94 billion, an increase of 53% from the previous year, according to a 2024 [report](https://www.fbi.gov/contact-us/field-offices/sanfrancisco/news/fbi-releases-internet-crime-report "FBI - Internet Crime Report") from the FBI’s Internet Crime Complaint Center. In an increasingly digital world, it’s important to learn how to spot a bitcoin scam or any kind of crypto scam. The information below can help you get started with protecting yourself. ## Types of Cryptocurrency Scams to Watch If you decide to take on the considerable risks associated with investing in cryptocurrencies, you should take every step possible to prevent yourself from falling victim to scammers. Part of this process is familiarizing yourself with some of the most common scams involving crypto. Here are a few to know about. ### Fake Cryptocurrency Websites Scammers often spoof a legitimate cryptocurrency website or create a fake website to trick victims into purchasing cryptocurrency. It may have a similar design to an official website, but the domain name will be slightly different from the legitimate one. The fake website may include fake testimonials, fake trading platforms and trading records. Once a person pays money to these websites, they might find it impossible to recover their lost funds. Crypto Phishing Scams Fake websites often help scammers accomplish something known as phishing. In short, phishing is the process of tricking a person to provide personal information. In the case of crypto, scammers often use fake websites to try to obtain access to a person's cryptocurrency wallet. During this process, they'll send you an email or a text with a link to their fake site. Always verify the validity of any site before entering sensitive information into it. ### Fake Celebrity Endorsements Some scammers will post pictures of a celebrity or influencer, falsely claiming that the celebrity made a lot of money using their financial services app or program. These organizations might contact you through social media, sending you links or [QR codes](https://www.cnb.com/personal-banking/insights/qr-code-fraud.html "City National Bank - QR Code Scams"). Their hope is that the false celebrity endorsement will be enough to convince you that the scheme is real. If you click the link, bogus financial services will pressure you to open a cryptocurrency account by downloading their app. In some cases, this app may enable remote access to your device, allowing fraudsters access to your funds. ### Ponzi Schemes While Ponzi schemes have been around for decades, they've found new life in the crypto era. In a Ponzi scheme, scammers attempt to recruit you as an investor in what appears to be a legitimate cryptocurrency portfolio. The scammers will continue to recruit new investors, securing more money and — thanks to their accrual of funds — the appearance of legitimacy. Instead of investing in a cryptocurrency portfolio as promised, they'll use the funds to pay out the initial investors and pocket the rest. Since early investors might receive consistent high returns, they can unknowingly legitimize the Ponzi scheme by endorsing it. Scammers will falsify documents and fabricate account statements to keep the scheme going and recruit more investors. ### Cryptocurrency Donations It's possible for individuals or corporations to donate cryptocurrency investments to legitimate charitable organizations. This means that it's also possible for scammers to pose as those organizations. During this scheme, scammers will often set up a fake website that poses as a legitimate charity or, in some cases, a [completely made up one](https://www.fox10tv.com/2023/11/28/fbi-issues-fake-charity-scam-warning/ "Fox - Charity Scam"). These websites focus on one objective: Taking advantage of a person's charitable inclinations to steal their money. ### Rug Pull Scams Also known as pump-and-dump schemes, these scams involve a fraudster who promotes a crypto product to boost its price. They then take the investors’ money and quietly shut down the project, leaving investors with worthless crypto coins. ### Blackmail Scams Scammers will sometimes try to blackmail an individual by saying they have compromising photos or videos of the person and will request payment with cryptocurrency to avoid them sending the compromising images to others. When this happens, the [FTC advises](https://consumer.ftc.gov/consumer-alerts/2020/06/cryptocurrency-blackmail-scam-alert "FTC - Crypto Blackmail Scam") that you ignore the scammer's threats and [report the crime to the FBI](https://www.fbi.gov/contact-us "FBI - Contact"). ### Business Opportunity Scam Some scammers will promote fake business opportunities which they often say will make you significant amounts of money with minimal investments of funds or time. During this scheme, a scammer will often act as if the matter is urgent in an attempt to pressure you into providing payment. ### Romance Scams Romance scams sadly exploit the hopes and trust of individuals, [including the elderly](https://www.cnb.com/personal-banking/insights/prevent-elder-fraud.html "City National Bank - Help Prevent Elder Fraud"). During these schemes, a scammer starts a romantic relationship with the victim via email or text. Once the victim’s feelings are involved, the scammer will try to get them to send money for various made up reasons. ## How to Help Detect and Prevent Crypto Scams Investing in cryptocurrency might offer the potential for enormous gains, but it’s crucial to take steps to protect yourself and your money. Consider five tips for protecting yourself from crypto scams. Stay informed about cryptocurrency and scams. There are thousands of cryptocurrencies available, and each type provides different ways to purchase and store it. With so many options available, it’s important to educate yourself on the process of purchasing and selling the options you choose. In addition, you should always stay up-to-date about common scams in cryptocurrency markets and be aware of how scammers are approaching investors. If you are contacted to buy or sell cryptocurrency, be extremely cautious about responding and if there's a hint of doubt - don't. Do your due diligence. Never invest in a new cryptocurrency or initial coin offering (ICO) without doing thorough research. Be skeptical of any cryptocurrency platform that promotes a guaranteed return. Remember, there's no such thing as a free lunch. Use reputable wallets with robust security features. When you own cryptocurrency, you can only access your holdings with your private "key," which is the password that gives you access to your money. Most crypto investors use a crypto wallet that keeps their private keys protected and accessible. Make sure you only use a crypto wallet that has robust security features—because anyone who gains access to your private keys will immediately have access to your crypto funds. Practice good cyber hygiene. Use [long passwords](https://www.cnb.com/personal-banking/insights/secure-password-guide.html "City National Bank - Making Strong Passwords"), two-factor authentication and update all your software in a timely manner. Do not share your private keys with anyone. If you share your private key with someone, they can access your cryptocurrency wallet, allowing coins to be withdrawn or transferred. Check out charities before making a donation. Verify any charitable organization by searching online. Websites like [Charity Navigator](https://www.charitynavigator.org/ "Charity Navigator"), [Charity Watch](https://www.charitywatch.org/) and the Better Business Bureau’s [Wise Giving Alliance](https://give.org/ "BBB Wise Giving Alliance") will post details about legitimate organizations and the causes they support. ## How to Report a Cryptocurrency Scam It's important to remember that investing in cryptocurrency is inherently risky, even when scams aren't a factor. If you've chosen to take on the risk associated with investing in crypto, you need to protect yourself if you believe you've been scammed. If you suspect a crypto scam or believe you’ve been the victim of a crypto scam, visit the [FBI page about reporting cryptocurrency scams](https://www.ic3.gov/Media/Y2023/PSA230824 "FBI - Guidance for Cryptocurrency Scam Victims") to find out what to do for your specific information. * * ## Explore More - [![Money covered giftbox wrapped in a blue blow](https://s7d2.scene7.com/is/image/citynationalbank/intra-family-loans) Wealth Transfer Using Intra-family Loans to Transfer Your Wealth 5 min read](https://www.cnb.com/personal-banking/insights/intra-family-loans.html) - [![Human figurines standing on stacks of coins](https://s7d2.scene7.com/is/image/citynationalbank/purposeful-planning) Trust & Estate Planning What is Purposeful Planning? 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Readable Markdown	Cryptocurrency, also known as crypto, is digital currency that is encrypted and decentralized. Over recent years, cryptocurrencies such as Bitcoin and Ethereum have made headlines for its [considerable volatility and risk](https://disb.dc.gov/page/you-invest-crypto-know-risks "DISB - Crypto Risks"). While many people are drawn to cryptocurrency, it carries significant peril. For example, crypto holdings are not insured by the Federal Deposit Insurance Corporation (FDIC), which does insure traditional bank deposits in accounts such as checking and savings. This means that a crypto investor assumes a considerable risk of losing their money during a crash. But that isn't where the risk ends. The world of cryptocurrency has created a new environment for scammers to steal from others. In 2023, cryptocurrency investment fraud losses rose to \$3.94 billion, an increase of 53% from the previous year, according to a 2024 [report](https://www.fbi.gov/contact-us/field-offices/sanfrancisco/news/fbi-releases-internet-crime-report "FBI - Internet Crime Report") from the FBI’s Internet Crime Complaint Center. In an increasingly digital world, it’s important to learn how to spot a bitcoin scam or any kind of crypto scam. The information below can help you get started with protecting yourself. ## Types of Cryptocurrency Scams to Watch If you decide to take on the considerable risks associated with investing in cryptocurrencies, you should take every step possible to prevent yourself from falling victim to scammers. Part of this process is familiarizing yourself with some of the most common scams involving crypto. Here are a few to know about. ### Fake Cryptocurrency Websites Scammers often spoof a legitimate cryptocurrency website or create a fake website to trick victims into purchasing cryptocurrency. It may have a similar design to an official website, but the domain name will be slightly different from the legitimate one. The fake website may include fake testimonials, fake trading platforms and trading records. Once a person pays money to these websites, they might find it impossible to recover their lost funds. Crypto Phishing Scams Fake websites often help scammers accomplish something known as phishing. In short, phishing is the process of tricking a person to provide personal information. In the case of crypto, scammers often use fake websites to try to obtain access to a person's cryptocurrency wallet. During this process, they'll send you an email or a text with a link to their fake site. Always verify the validity of any site before entering sensitive information into it. ### Fake Celebrity Endorsements Some scammers will post pictures of a celebrity or influencer, falsely claiming that the celebrity made a lot of money using their financial services app or program. These organizations might contact you through social media, sending you links or [QR codes](https://www.cnb.com/personal-banking/insights/qr-code-fraud.html "City National Bank - QR Code Scams"). Their hope is that the false celebrity endorsement will be enough to convince you that the scheme is real. If you click the link, bogus financial services will pressure you to open a cryptocurrency account by downloading their app. In some cases, this app may enable remote access to your device, allowing fraudsters access to your funds. ### Ponzi Schemes While Ponzi schemes have been around for decades, they've found new life in the crypto era. In a Ponzi scheme, scammers attempt to recruit you as an investor in what appears to be a legitimate cryptocurrency portfolio. The scammers will continue to recruit new investors, securing more money and — thanks to their accrual of funds — the appearance of legitimacy. Instead of investing in a cryptocurrency portfolio as promised, they'll use the funds to pay out the initial investors and pocket the rest. Since early investors might receive consistent high returns, they can unknowingly legitimize the Ponzi scheme by endorsing it. Scammers will falsify documents and fabricate account statements to keep the scheme going and recruit more investors. ### Cryptocurrency Donations It's possible for individuals or corporations to donate cryptocurrency investments to legitimate charitable organizations. This means that it's also possible for scammers to pose as those organizations. During this scheme, scammers will often set up a fake website that poses as a legitimate charity or, in some cases, a [completely made up one](https://www.fox10tv.com/2023/11/28/fbi-issues-fake-charity-scam-warning/ "Fox - Charity Scam"). These websites focus on one objective: Taking advantage of a person's charitable inclinations to steal their money. ### Rug Pull Scams Also known as pump-and-dump schemes, these scams involve a fraudster who promotes a crypto product to boost its price. They then take the investors’ money and quietly shut down the project, leaving investors with worthless crypto coins. ### Blackmail Scams Scammers will sometimes try to blackmail an individual by saying they have compromising photos or videos of the person and will request payment with cryptocurrency to avoid them sending the compromising images to others. When this happens, the [FTC advises](https://consumer.ftc.gov/consumer-alerts/2020/06/cryptocurrency-blackmail-scam-alert "FTC - Crypto Blackmail Scam") that you ignore the scammer's threats and [report the crime to the FBI](https://www.fbi.gov/contact-us "FBI - Contact"). ### Business Opportunity Scam Some scammers will promote fake business opportunities which they often say will make you significant amounts of money with minimal investments of funds or time. During this scheme, a scammer will often act as if the matter is urgent in an attempt to pressure you into providing payment. ### Romance Scams Romance scams sadly exploit the hopes and trust of individuals, [including the elderly](https://www.cnb.com/personal-banking/insights/prevent-elder-fraud.html "City National Bank - Help Prevent Elder Fraud"). During these schemes, a scammer starts a romantic relationship with the victim via email or text. Once the victim’s feelings are involved, the scammer will try to get them to send money for various made up reasons. ## How to Help Detect and Prevent Crypto Scams Investing in cryptocurrency might offer the potential for enormous gains, but it’s crucial to take steps to protect yourself and your money. Consider five tips for protecting yourself from crypto scams. Stay informed about cryptocurrency and scams. There are thousands of cryptocurrencies available, and each type provides different ways to purchase and store it. With so many options available, it’s important to educate yourself on the process of purchasing and selling the options you choose. In addition, you should always stay up-to-date about common scams in cryptocurrency markets and be aware of how scammers are approaching investors. If you are contacted to buy or sell cryptocurrency, be extremely cautious about responding and if there's a hint of doubt - don't. Do your due diligence. Never invest in a new cryptocurrency or initial coin offering (ICO) without doing thorough research. Be skeptical of any cryptocurrency platform that promotes a guaranteed return. Remember, there's no such thing as a free lunch. Use reputable wallets with robust security features. When you own cryptocurrency, you can only access your holdings with your private "key," which is the password that gives you access to your money. Most crypto investors use a crypto wallet that keeps their private keys protected and accessible. Make sure you only use a crypto wallet that has robust security features—because anyone who gains access to your private keys will immediately have access to your crypto funds. Practice good cyber hygiene. Use [long passwords](https://www.cnb.com/personal-banking/insights/secure-password-guide.html "City National Bank - Making Strong Passwords"), two-factor authentication and update all your software in a timely manner. Do not share your private keys with anyone. If you share your private key with someone, they can access your cryptocurrency wallet, allowing coins to be withdrawn or transferred. Check out charities before making a donation. Verify any charitable organization by searching online. Websites like [Charity Navigator](https://www.charitynavigator.org/ "Charity Navigator"), [Charity Watch](https://www.charitywatch.org/) and the Better Business Bureau’s [Wise Giving Alliance](https://give.org/ "BBB Wise Giving Alliance") will post details about legitimate organizations and the causes they support. ## How to Report a Cryptocurrency Scam It's important to remember that investing in cryptocurrency is inherently risky, even when scams aren't a factor. If you've chosen to take on the risk associated with investing in crypto, you need to protect yourself if you believe you've been scammed. If you suspect a crypto scam or believe you’ve been the victim of a crypto scam, visit the [FBI page about reporting cryptocurrency scams](https://www.ic3.gov/Media/Y2023/PSA230824 "FBI - Guidance for Cryptocurrency Scam Victims") to find out what to do for your specific information.
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