Common Scams in the Cryptocurrency World! This article will probably offend many people!!

In the cryptocurrency world (the crypto circle), high returns always come with high risks. For beginners, avoiding scams is more important than making money. Below are the most common scam types in 2026 and a "life-saving" guide for novice traders.
Top Five Common Scams in the Crypto Circle
1. "Pig Butchering" and Social Inducement
• Scheme: Scammers disguise themselves as "rich and handsome/beautiful" or "experienced trading mentors" on social media platforms (Twitter, Telegram, DingTalk, even dating apps), first building trust through small talk, then誘導 you to fake trading platforms, and even allowing slight profits! They teach you step-by-step.
• Result: Initially, they let you earn a little and successfully withdraw, but once you invest large sums, the platform will block your account citing "taxes owed" or "illegal operations," then run away with your money. Or they open frequent trades and trigger frequent stop-losses to刷 your fees. It is recommended to observe real profit data for at least half a month before copying trades.
2. Pixiu Pump and Carpet Pull
• Scheme: Launch a popular concept coin on a decentralized exchange, using false advertising to attract buyers.
• Result: * Pixiu Pump: The contract contains logic that forces you to buy but not sell, watching your on-paper gains double but unable to cash out.
• Carpet Pull: The project team suddenly withdraws all liquidity (USDT/ETH) from the pool, causing the coin price to plummet to zero instantly.
3. Fake Airdrops and Phishing Links
• Scheme: Receive private messages or emails claiming you've won a "big prize" or have a "free airdrop," and click on the link to a page identical to the official website.
• Result: As soon as you connect your wallet and click "authorize" or input your "mnemonic phrase," hackers will instantly drain all your assets.
4. Impersonating Official Customer Service/ Celebrities
• Scheme: On Telegram or other groups, someone with an identical profile picture and name as official staff will DM you, claiming to help solve technical issues.
• Result: They will ask for your mnemonic phrase or persuade you to download remote control software with malware.
5. Arbitrage/High Rebate Scams
• Scheme: Claim to use price differences across exchanges for "quantitative arbitrage," promising daily profits of 1%-5%.
• Result: A classic Ponzi scheme, using later investors' money to pay earlier ones, eventually collapsing.
🛡️ Essential "Life-Saving" Tips for Beginners
1. Mnemonic Phrase = Your Lifeline
• Never connect online: Write your mnemonic phrase by hand on paper. Never screenshot, save in notes, or send to anyone.
• Zero trust: Anyone asking for your mnemonic phrase is 100% a scammer.
2. Reject FOMO (Fear of Missing Out)
• When you see everyone in the group shouting "Buy now or it's too late," that's usually the most dangerous time. Don't chase the pump, and definitely don't borrow money to invest.
3. Verify Official Websites, Avoid Ads
• When downloading a wallet or entering an exchange, don't click on the "sponsored" links at the top of search results—those are often phishing sites. Manually type the URL or click through from trusted navigation sites.
4. Small Tests, Diversify
• Withdrawal test: Deposit a small amount into a new platform first, then try withdrawing to ensure smooth access.
• Egg basket: Store large, long-term holdings in cold wallets; keep profits or short-term trading funds in hot wallets, fully separated.
5. Beware of "Authorization" Requests
• When connecting your wallet, be extra cautious if an "infinite authorization" request pops up. Regularly use tools like Revoke to check and cancel unnecessary contract permissions.
💡 Final Advice for You
In the crypto circle, the highest principle is **"Don't touch what you don't understand."** If you can't understand a project's profit logic and only see its price going up, then your principal is someone else's "profit logic." The crypto world is essentially a game of survival of the fittest. So-called signal providers or rebate groups are just tactics. If the so-called signal provider could really help you make big money, why would they call signals and invite you? They could just fill their own bags. Ultimately, you need your own understanding and trading logic. This is Old Wang, who believes in teaching people how to fish rather than giving fish.