Fraud that demands payment in crypto or lures victims into fake crypto platforms, exploiting irreversible transactions.
Cryptocurrency transactions are irreversible and pseudonymous, making them ideal for scammers. Job-related crypto fraud usually takes one of two forms: demanding a crypto “deposit” to start earning, or steering victims to a counterfeit trading platform that displays fake gains.
Once crypto leaves your wallet it is almost never recoverable, which is why any job that hinges on depositing crypto is a red flag.
Red flags
- A job requires depositing cryptocurrency to earn or withdraw
- A platform shows profits but blocks or taxes withdrawals
- Being told to buy crypto at an ATM or kiosk
Deep-dive guide
Crypto & Web3 Job Scams: Wallet 'Verification' and Deposit Traps
Frequently asked questions
Why is crypto used in so many scams?
Crypto payments are fast, global, and irreversible, and wallets aren't tied to a name by default. That combination lets scammers take money with little chance of it being clawed back.