There are a number of fraudulent schemes on the internet aiming to misappropriate cryptocurrency from unsuspecting users. If you are planning on sending cryptocurrency to a third-party, please look out for these common warning signs you might be dealing with a scam:
Investment scams often pose as trading platforms or individual “experts” that promise to make you profits on your cryptocurrency. These schemes usually use difficult-to-understand terminology to explain how they can generate high returns for you, with little or no risk.
These groups may also falsely claim you need to send them additional cryptocurrency before they release your funds.
Here are some common red flags to look out for:
- High investment returns with little or no risk
- Unlicensed/unregistered companies
- Delays/difficulties in withdrawing your funds
- Overly complex or unspecified investment strategies
Impersonation scams contact you by phone, email, social media, or messaging applications, claiming they are affiliated with MoonPay and/or one of our integration partners. These individuals will attempt to obtain sensitive information from you that they can use for fraudulent purposes.
Impostor websites set up sites that appear to be operated by a reputable company, and may have a URL that is almost indistinguishable from the original. Check for small discrepancies in the URL, like a “0” instead of an “o,” for example.
E-commerce scams ask you to send cryptocurrency in exchange for a product or service, without any intention of delivering the goods.
Giveaway scams post fraudulent messages on social media posing as business leaders or celebrities, claiming that if you send cryptocurrency to their address, they will return you double or more. These scams are mostly found on Twitter, Youtube, and Telegram.
As cryptocurrency transactions are irreversible, we won't be able to retrieve your funds if you fall victim to one of these schemes.
NOTE❗️ MoonPay employees will NEVER contact you by phone, social media, or messaging application.