The world of crypto investments can seem very lucrative but fraudsters are using promises of riches to steal money.

Younger people, in particular, are being targeted with adverts on social media by crypto scammers. With so many well put together promotions it is easy to fall victim to fraudsters.

The first thing that we want to say is that, this is not your fault.

Sometimes crypto scammers will initially lure you in by giving you a return on your investment and encouraging you to spend even more money.

As well as social media, many victims are initially contacted by sophisticated WhatsApp groups which have a host of ‘actors’ to help make the investment opportunity seem more real.

However, you have been scammed we are here to help you recover your money. Our staff are very aware of how clever the fraudsters can be and are very aware that anyone can fall victim to fraud.

What are the key warning signs that it may be a crypto scam?

Here are some of the red flags to look out for around crypto scams.

1. Promises of guaranteed high returns with little to no risk: If a cryptocurrency investment opportunity sounds too good to be true, it probably is. Be wary of any scheme that promises guaranteed high returns with little to no risk.

2. Lack of transparency and vague details: If the company or individual behind the cryptocurrency project is not transparent about their background, experience, or how the investment will work, it may be a red flag.

3. Pressure to invest quickly: Scammers often use high-pressure tactics to get people to invest quickly without doing their due diligence. Be cautious of anyone who pressures you to invest in a cryptocurrency project without giving you time to research and ask questions.

4. Unverifiable information: If the information provided about the cryptocurrency project, team, or technology is unverifiable or inconsistent, it may be a sign of a scam.

5. Lack of regulation or oversight: Cryptocurrency scams often operate in jurisdictions with little to no regulation or oversight. Be cautious of any investment opportunity that operates in a jurisdiction known for lax regulation.

6. Ponzi or pyramid schemes: Some cryptocurrency scams operate as Ponzi or pyramid schemes, where early investors are paid with the money of new investors. Be cautious of any investment opportunity that relies on recruiting new investors to pay returns to existing investors.

7. Unsolicited offers: Be wary of unsolicited offers or messages promoting a cryptocurrency investment opportunity. Scammers often use cold-calling, email spam, or social media messages to target potential victims.