Fake Cryptocurrency: How to Spot Scams and Avoid Losing Money

When you hear about a new crypto project promising free tokens or insane returns, stop and ask: is this real or a fake cryptocurrency, a deceptive digital asset designed to trick users into sending money or private keys. Also known as crypto scam, it often looks like a legitimate project but has no team, no code, and no future. These aren’t just bad investments—they’re thefts dressed up as opportunities.

Fake cryptocurrency projects don’t just appear out of nowhere. They ride on the hype of real ones. You’ll see names like Piyasa crypto exchange, a scam using a Turkish word for "market" to trick non-Turkish speakers into thinking it’s a real platform, or Coinopts, a fake exchange with zero reviews, no security audits, and no official presence. Then there are fake airdrops—like the one pretending to be for HAI token, a token that crashed after Hacken’s security breach, now used by scammers to lure victims into fake claiming pages. These aren’t mistakes. They’re engineered to exploit trust.

What makes these scams dangerous is how they mimic the real thing. They use professional-looking websites, copy real project names, and even fake social media accounts. Some even claim to be on Binance or Coinbase. But if a platform isn’t listed on official exchange directories, has no public team, and no blockchain explorer data, it’s a red flag. Real projects don’t hide. They publish audits, list their code, and answer questions. Fake ones vanish when you ask for proof.

You’ll find a lot of these in the posts below: dead DEXs like MakiSwap and AfroDex, fake airdrops that ask for deposits instead of giving free tokens, and exchanges that don’t exist but still have fake user reviews. Some are old. Some are brand new. All of them are designed to take your crypto. The good news? You don’t need to be a tech expert to spot them. You just need to know what to look for—and what to avoid.