The cryptocurrency world is exciting and full of opportunity. But it also hides a darker reality, a growing wave of sophisticated scams that have robbed and continues to rob thousands of investors of their hard-earned money.
From fake trading platforms to fraudulent investment schemes, scammers have perfected the art of appearing legitimate while stealing millions in digital assets daily across the internet.
If you’re new to crypto, or if you’ve lost money in a suspicious investment, this article is for you. We’ll explore what every investor should know before putting money into crypto, how to identify scams, and what you can do if you’ve already been defrauded, including how Norton Intelligence can help you with your case.
The rise of cryptocurrency investment & trading scams didn’t start today. The appeal of high returns has drawn millions into crypto, but just as the saying “Where there’s money, scammers follow.”
Here are some of the most common crypto scams we see at Norton Intelligence:
- Fake Trading Platforms: This is when scammers build sleek websites or mobile apps (often using names like MetaTrader, Binance Pro, etc.) to mimic legitimate brokers. You “invest,” see fake profits on-screen, but can’t withdraw a dime.
- Impersonation Scams: Here, fraudsters pretend to be financial experts, brokers, or crypto mentors on WhatsApp, Telegram, or Instagram. They gain your trust, then direct you to invest through their “platform” and disappear afterwards.
- Romance or Friendship-Based Crypto Scams: This particular scam is one of the most hurtful of them all. Here, victims are emotionally manipulated into “investing together” with a new friend or an online partner only to be ghosted once the money is gone.
- Pump-and-Dump Tokens: This scam requires tech expertise and a lot of promotions to achieve. Fraudsters invest money to hype up new coins or NFT projects, get you to invest your money, and then vanish, leaving you with worthless digital assets.
There’s a whole lot that goes into the process of planning any of the aforementioned scam projects. That’s why it’s pertinent that you watch out for these five(5) red flags before you invest subsequently:
- Guaranteed Returns: In crypto, nothing is guaranteed. Anyone promising fixed profits is lying.
- Unregulated Brokers: Check if the platform is registered with credible regulators like FCA, SEC, or ESMA.
- Pressure Tactics: “Act now or lose the opportunity” is a classic scam line. Don’t fall for urgency traps.
- Lack of Transparency: If you can’t verify the broker’s physical address, team, or registration, steer clear.
- No Withdrawal Option: If a platform delays or denies withdrawals without clear legal reasoning, it’s a red flag.
Perhaps you are reading this piece after you’ve been scammed… Here’s what you can do:
First, don’t panic! You are not alone. Victims from around the world lose billions each year to crypto fraud. But recovery is possible, especially if you act fast and work with the right experts.
And that’s where Norton Intelligence comes in…
Norton Intelligence is a licensed private investigation and digital asset recovery agency. We specialize in digital asset tracing and recovery using a combination of blockchain forensics, cyber investigation, and legal escalation.
Here’s how we help:
- Detailed Case Assessment: You provide us with all available information (emails, wallet addresses, transaction proofs, screenshots). Our team verifies the fraud pattern and reverts, letting you know if it’s a case we can treat.
- Blockchain Tracing: We use cutting-edge tools to trace your lost funds across the blockchain, tracking wallet movements even through mixers and DeFi layers.
- Evidence Building: This is where we compile all findings into a legal-grade report that can be used with law enforcement, banks, exchanges, and even in court.
- Collaborating With Authorities: We escalate your case to the appropriate regulatory or security agencies and work with major exchanges to freeze or intercept fraudulent wallets.
- Asset Recovery Strategy: We guide you through realistic recovery options, whether partial or full, depending on how the scam was executed.
We’ve helped hundreds of clients recover stolen digital assets, from $5,000 to over $250,000. You could be next.