Top 10 Cryptocurrency Scams

It seems that people have been scamming since the human race began. At least more since the modern humanity.

It seems that it was an inflow of fraud since the beginning of the technology and the cryptocurrency was not an exception.

The emergence of cryptocurrency has brought a realization of how easy it was to copy a legitimate open source code project and acquire a new cramp line.
For example, 98% of the ICOs (thousands of new cryptocurrencies launched through the first coin offering of the 2016-2018 crypto bubble) have since turned out to be either fraudulent or huge failures.

In any case, 98% of the thousands of crypto projects at the time, investors lost money. Still, some of all these scams have stolen hundreds of millions or even billions of dollars from victims around the world.

Here are Top 10 Cryptocurrency’s Scams

1. Onecoin

Famous for the BBC’s Missing Cryptoqueen podcast series, Onecoin is now considered the biggest crypto scam in history. The OneCoin scam, now known as the giant Ponzi scheme, is believed to have stolen an estimated $ 25 billion. Surprisingly, the scam was closed by authorities in 2017, but its leader was arrested and its founder either disappeared or is dead. The scam is still going on. The strangest thing is that Onecoin didn’t have a cryptocurrency. Technology was a hoax from the beginning.

2. Bitconnect

Bitconnect – One of the bravest and most famous crypto scams ever. Bitconnect has scammed an estimated $ 4 billion in the MLM Ponzi scheme and has captivated investors by claiming to have an invincible trading algorithm that probably didn’t exist. Surprisingly, They weren’t happy to scam the victims only once, so they launched the second ICO, Bitconnect X, just as the first project went to zero.

3. Bitclub Network

The largest known crypto mining scam. Like Onecoin and Bitconnect, this is a Ponzi scheme that has raised $ 722 million using good marketers and salespeople. BCN has promised investors to own Bitcoin mining equipment and send guaranteed profits. Unfortunately, the video of the mining equipment used was from another mining farm and seems to have been nothing more than a Ponzi scheme from start to finish.

4. Quadriga

The cryptocurrency exchange, believed to be infamous for its founders misrepresenting their death, was originally Canada’s leading and trusted cryptocurrency exchange. However, it was later discovered that it had been tampered with from the beginning, and its founder had experience with other scams.

The founder was the only person to access a private key containing a $ 250 million in user’s tokens, then he died suspiciously. But a lot of people are questioning his death and believe that he changed his identity and is still alive.

5. Pincoin and iFan

Vietnam’s project, which combines compelling marketing with clever marketing, has scammed investors for $ 660 million. Many of these crypto coins are still missing.

6. Plexcoin

An ICO that incredibly promised investors a 1,354% return has been closed by the SEC and they had to repay the stolen $ 20 million from the ICO.

7. Savedroid

It’s not a scam itself, but the founders shut down their offices and social media before recklessly posing at the airport or beach, pretending that the exit was scammed, and coming back and saying it’s not a scam. Either way, the value of the project’s tokens plummeted, where investors lost around $ 50 million.

8. Bitcoin Doublers

Not one of the biggest scams in terms of stolen money, but overall still bad for the investors. The site claims to double the Bitcoin coins once are sent to their wallet address. The offer sounds good, but it would be a shock if they did anything other than steal the BTC sent to them.

9. Twitter and Social Media Offers

Like the Bitcoin Doubler, these aren’t individual scams, but scammers who hijack celebrity social media accounts or disguise themselves so well that people fall in love with them. They promise to send back to the person who sent them the cryptocurrency tokens, or whatever offer is made. The celebrities that were being used in the scams are unaware of these scams on their behalf.

10. Thodex

The Turkish founder of the crypto exchange has lured investors to put $ 2.2 billion in crypto on the exchange in return of getting free Doge coin which is a memecoin. The founder did an exit scam and still no one knows where he is.

If you want to check other popular scams, feel free to check this cool video on YouTube.


There are a lot of cryptocurrency scams and crypto beginners are falling for it, but remember one thing, if the offer is too good to be true, then most of the case its about a huge scam and nothing more. So make sure you do a deep research before you do anything in the cryptocurrency sphere, there are a lot of scammers that are improving their scamming methods day by day in order to lure cryptocurrency investors to send them money or private keys.

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of EGG Finance. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.