Crypto scam language changes quickly, but the underlying warning signs are familiar: pressure to act, promises of guaranteed returns, requests for secrets and difficulty withdrawing money. A label can help explain a pattern, but it cannot prove that a particular person or firm is fraudulent.
Rug pull
A rug pull is a common term for a project where people behind a token or platform withdraw support, liquidity or access after attracting users. The phrase is informal and can cover different situations. Investigate the specific facts before repeating the allegation.
Phishing
Phishing is an attempt to trick someone into giving away information or approving an action. Fake wallet websites, copied social accounts, urgent messages and links sent by direct message are common examples. Do not enter a recovery phrase or private key into a link supplied unexpectedly.
Fake support
Scammers may pretend to be a wallet, exchange, blockchain project or platform support team. Genuine support should not need your seed phrase or private key. Treat requests to move funds to a “safe” address as a warning sign.
Guaranteed returns
No legitimate explanation of market risk can turn a volatile cryptoasset into a guaranteed return. Promises of fixed profit, urgency, referral rewards or secret opportunities deserve scrutiny rather than a quick payment.
Where to check a UK firm
The FCA says you can use its Firm Checker to see whether a firm is authorised and has permission for the service it offers. Its Warning List identifies unauthorised firms the FCA knows about, but the FCA also warns that absence from the list does not prove that a firm is authorised or genuine.
If you suspect a scam, preserve messages, addresses, receipts and transaction details, and contact the relevant official reporting or financial-crime route. Do not publish an accusation based only on a screenshot or a name that resembles another firm.