How the crypto scam check works
Each question in the crypto scam check describes a pattern that appears again and again in investment fraud.
Legitimate, authorised exchanges do not contact strangers with guaranteed returns, do not ask for recovery phrases and do not charge an "unlock fee" before a withdrawal.
That is why even one "yes" is a reason to stop, and three or more make a scam very likely.
The red flags in the crypto scam check, explained
| Red flag | Why scammers use it |
|---|---|
| Unsolicited contact | Scammers start the conversation, often after building trust over weeks |
| Guaranteed or high returns | No real investment can guarantee returns, least of all crypto |
| Time pressure | Rushed people do not stop to check |
| Fake endorsements | Celebrity names and news logos are copied without permission |
| Remote access | Lets the scammer take over your bank or exchange account |
| Recovery phrase requests | Whoever has the phrase controls the wallet |
| No authorisation | A real EU crypto service provider can be found in the ESMA register |
| Fees to withdraw | The "balance" is fake; the fee is the next theft |
| Payments to personal accounts | Money sent this way is hard to trace or recover |
| Secrecy | Banks and family often spot scams the victim cannot see |
Check the firm, not just the offer
Since 1 July 2026, crypto-asset services in the EU require a MiCA authorisation, and authorised firms appear in ESMA's register.
Search for the exact legal name with the MiCA licence checker, and compare the website address with the one in the register.
Scammers often use names that look like real firms, so a similar name is not a match.
ESMA also publishes a list of non-compliant entities, and national regulators publish warning lists, as the guide to regulator warning lists explains.
If the crypto scam check finds red flags
- Stop all payments: do not send more money, even to "unlock" a withdrawal.
- Do not share codes or phrases: no genuine service needs your recovery phrase.
- Remove remote-access software: if you installed any, uninstall it and change your passwords from a different device.
- Contact your bank: quickly, if you have already paid.
- Report it: to the police and your national regulator, as the guide to reporting a crypto scam explains.
Beware of "recovery" offers after a scam
People who have lost money to a scam are often contacted again by someone offering to recover it for a fee.
These offers are usually a second scam by the same or a related group, as the guide to crypto recovery scams explains.
Common crypto scam types
- Romance and "pig butchering" scams: a long online relationship that leads to a fake investment platform.
- Fake trading platforms: a professional-looking site that shows growing profits but never pays out.
- Giveaway scams: "send 1 coin, get 2 back".
- Fake support: someone posing as an exchange's support team asks for codes or remote access.
- Phishing: a copy of a real exchange's login page.
Each is described in the guide to crypto scams.
Crypto scam check: how a typical investment scam unfolds
- First contact: a message, a wrong-number text, a dating match or an ad with a famous face.
- Trust building: days or weeks of friendly conversation, often with no mention of money.
- The opportunity: a "platform" or "mentor" that has supposedly made them rich.
- A small start: you invest a little and see fast "profits" on the screen.
- A small withdrawal works: sometimes the scammer lets you take out a little to build confidence.
- Pressure to add more: a special deadline, a VIP level, a once-only offer.
- The trap: withdrawals now require a "fee", "tax" or "verification deposit".
- The second wave: after contact stops, "recovery" services appear.
Each step matches one or more questions in the crypto scam check, which is why answering honestly matters.
Crypto scam check: why clever people are caught
Investment scams succeed because they use normal human instincts: trust in friendly people, fear of missing out and the wish to recover a loss.
They often reach people at vulnerable moments, such as loneliness, money worries or after a bereavement.
Being caught is not a sign of foolishness, and talking about it early limits the damage.
Crypto scam check: how to verify a platform quickly
| Check | Genuine authorised exchange | Typical scam platform |
|---|---|---|
| ESMA register | Listed, with a matching website | Not listed, or a copied name |
| How you found it | You searched for it yourself | Someone sent you a link |
| Returns | No promises | High or guaranteed |
| Withdrawals | Follow published terms and fees | Blocked until you pay more |
| Support | Through the official app or site | Through WhatsApp, Telegram or a personal contact |
Crypto scam check for someone you know
If a friend or relative shows you a platform they are excited about, the crypto scam check can be a non-judgemental way to look at it together.
Ask how they found it, whether they have tried a withdrawal and whether the firm appears in the ESMA register.
If the answers point to a scam, encourage them to stop payments and contact their bank, without blame.
After the crypto scam check: protect your accounts
- Change passwords from a clean device if you shared any.
- Remove remote-access apps and check email forwarding rules.
- Turn on app-based two-factor authentication everywhere.
- Watch for new "recovery" offers, which are usually a second scam.
The account security check walks through each setting.
Crypto scam check: what to report and where
- The website address, app name and any wallet addresses you were asked to pay to.
- Names, phone numbers and usernames the contact used.
- Screenshots of messages, adverts and the platform's dashboard.
- Dates, amounts and transaction IDs of any payments.
Report to the police and your national financial regulator, and tell your bank at once if money left your account; the guide to reporting a crypto scam lists the steps.
Crypto scam check: questions readers ask
Can a scam use a real MiCA licence? Clone scams copy real firms' names and details, so always compare the website address with the register.
Is a platform safe if I could withdraw a small amount? No; scams often allow a small first withdrawal to build trust before larger deposits.
Do not contact the scammers again after reporting.
Warn friends and family too, since scammers often reuse the same story with other people in the same group.
Frequently asked questions
How accurate is the crypto scam check?
It looks for the most common signs of investment fraud. It cannot prove that an offer is safe, so a clean result should still be followed by a register check.
What is the biggest red flag in a crypto offer?
Any request for your recovery phrase or private key. No genuine exchange or wallet provider ever needs it.
Can a scam platform show real profits?
It can show numbers that look like profits, but they are usually fake. The problems start when you try to withdraw.
How do I check if a crypto platform is authorised in the EU?
Search the ESMA register for the exact legal name, or use the MiCA licence checker on this site, and compare the website address.
What should I do if I already sent money?
Contact your bank straight away, stop all further payments, keep all evidence and report the scam to the police and your national regulator.
Are my answers to the crypto scam check stored?
No. The check runs in your browser, and nothing is saved or sent.
Sources
- ESMA interim MiCA register, including the list of non-compliant entities
- Regulation (EU) 2023/1114 (MiCA), Article 143(3): transitional period until 1 July 2026
Every figure on this page is checked against the ESMA register, the exchange's own terms and fee pages or another primary source, and the sources are listed above. Editorial policy · How we rate