The Scam List – Overview of all scams in the crypto world =

Scams, scams, fraud, you come across it everywhere and the crypto world is also full of them. You may have already come across some and by now you know when something is a scam and when it is not, but it is still useful to stay up-to-date, because the scams also continue to evolve.

Our article on Crypto Scams and what to look out for has already discussed all the warning signs when it comes to crypto scams, so that you can reduce the risk of losing your hard-earned money. So it is useful to read that article first. This article is intended for possible doubtful cases, because all – known to us – scams in the crypto world are highlighted here. So put it in your bookmark bar by clicking on the star at the top of your browser, so you can always see if your question is included in this list.

It is of course possible that something is a scam and is not on this list as this article is out of date and something may have been overlooked, so always be careful because if something sounds too good to be true then it is it usually is.

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  • View quickly
  • Scam via Litebit
  • Infinitrade
  • GiroFX
  • EXW Token
  • Others
    • 2FA Scams
    • Pump & Dump
    • Paid groups
    • Discord, Telegram & Facebook
  • Scams that no longer exist
    • Trondivs
    • MX Trades & Investments
    • bitconnect
    • PCMex Global
  • Finally


Scam via Litebit

If you receive an e-mail from Litebit or another exchange, always check first whether this really comes from the e-mail address of the relevant exchange. Chances are that you have received a phishing email and this is exactly how many scammers operate.

An example of such an email could be:

“You have been chosen as a loyal user LiteBit who is lucky to get a bonus of 0.83 Bitcoin & 4 Litecoin. In order to improve the Quality of the Platform we give bonuses to 50 loyal users LiteBit .”

Followed by a link to a website similar to Litebit’s website.

If you then decide to log in to this website, you are essentially sending your username and password directly to the scammer and they will have access to all of your coins.

Therefore , always use 2FA (2-factor authentication)! Then they just don’t need your login details.


Infinitrade with the website is a company based in England. They advertise via sponsored links on Facebook and the website is also fairly easy to find on Google.

The approach of these scammers is as follows:

  • You put money in and they supposedly do the investment work for you. They promise good returns.
  • There is a lot of contact with your “personal account manager”, who eventually also tries to persuade you to invest even more
  • Huge fake returns are shown on your account
  • When you decide to withdraw money, you will be asked to deposit even more so that you can only withdraw your money afterwards
  • In the end you will never see all the money again

Unfortunately, Infinitrade is still active and you see a lot of reviews on all review sites from people who have been scammed. So don’t go with Infinitrade!


GiroFX is a company that actually works in the same way as Infinitrade. Here too, the investments are made for you and more and more investment is required from you. If you then want to withdraw money, they will again ask for additional investment – sometimes even through a bank loan – after which you will never see your money again.

GiroFX is run by a criminal gang and other names they also go under are:

  • GMO Trading
  • Bitcoin Kingdom
  • ICN Brokers
  • MTC Brokers
  • 66 Brokers
  • Blue Hill Capital
  • Anthony Goldman
  • GFCInvestment
  • Brighter Trade
  • Vemarkets
  • Bitcoin loophole
  • Immediate Hedge
  • Bitcoin Revolution
  • Bitcoin Rush
  • Bitcoin Era
  • Bitcoin Future
  • Bitcoin Profit
  • Bitcoin Circuit
  • The Crypto Revolt
  • Bitcoin Traders Pro
  • LionsFM
  • Mirror trading
  • International Parker Prime

This is a nice laundry list of names, but they all work the same. The way of advertising is also unique; because photos of celebrities are used with a fake text, such as: “Waylon’s latest investment terrifies banks…”. These ads are mainly found on Facebook.



This is a very smart way of advertising and many people have already fallen for it. So it is up to you to avoid GiroFX and all its aliases

EXW Token

The EXW Wallet project, with the associated EXW Token, falls under the category of Ponzi Fraud/Pyramid Scheme.

This is a scam method in which investments are offered where the paid-out funds are financed from the deposits of new customers. As you can imagine, such a pyramid falls apart completely if no new customers are added, which is why pyramid schemes are also illegal in the Netherlands.

Such a game can often be recognized by the promise of large winnings and rewards for acquiring new customers. In the case of EXW, you would get up to 0.3% profit per day. This does not seem like much, but this would mean that with an investment of € 1000, you would have collected about € 56 million after ten years, and this for every customer. As said before; if something sounds too good to be true, it usually is!

So don’t imagine the EXW Token or the EXW wallet, because this project is doomed to collapse in the long run.


Quite a few names have passed by with different methods, but there are many other ways that scammers try to take your money. Check them out below and try to keep them in mind!

2FA Scams

Now that 2FA is mandatory almost everywhere to protect your account, scammers have also found ways to recover. For example, your password may have already been released in the event of a data breach, so that scammers now only have to circumvent your 2FA.

For example, you may receive a message that your account may have been compromised, asking you to verify your identity by means of a 2FA code that you will receive as soon as possible. Then they log in to your account, which triggers that 2FA code. They now have access to your account and immediately change all login details, so that you lose everything.

You can come across these scams on any site, but none of those sites will ever actually ask for your password or your 2FA code. To prevent a 2FA scam, you simply never respond to messages requesting this secret information.

Pump & Dump

You must have heard of it: Pump & Dump groups on Telegram, Discord, Facebook or other communities. The goal of such a group is to drive the price of an asset in a very short period of time – usually no longer than an hour – by buying massively, which we also call the “pump”. The “dump” follows, when the price is sky high, everything is supposed to be dumped, after which the price plummets again.

It is not advisable to participate in this anyway because it is illegal, but there is also a good chance that you will only lose money with it. The organizers of such groups often buy well in advance at very low prices and they use the group for the “pump” when the time comes.

At such a moment you are probably buying the coins from the organizers and you just have to be lucky that the price has not already plummeted if you want to sell. So avoid these groups at all costs.

Paid groups

Paid groups, also often referred to as “paid groups”, are groups in which certain “calls” are made to buy a coin, because it will bring you profit. You usually pay a monthly or annual fee for this.

These calls are often based on technical analysis of the charts and trading indicators and can sometimes actually be profitable. The only question is whether they are profitable more often than not, and does it also cover the cost of the paid group?

The profitable trades are often advertised on Twitter, Telegram and Discord, but the losing trades are never shown. So there is a good chance that you will end up in a group where no profit is made at all, for which you do pay. It is also possible that you are completely scammed and you do not even end up in a group. So just try to keep things in your own hands and avoid these groups.

Discord, Telegram & Facebook

The advice is to avoid approaches from unknown persons via Discord, Telegram and Facebook asking you to do something. Not even those beautiful women! Most scammers do their job through these platforms, in all sorts of creative ways.

If you still want to respond to a message, make sure that you never click on links, give passwords or transfer money.

Scams that no longer exist

Fortunately, there are also a number of scams / pyramid schemes already to be found in the cemetery. Unfortunately, that does not mean that the scammers themselves have stopped, just like with GiroFX, they can just hide under another name. Below you can read about four canceled scams.

Trondivs was a site where you could invest Tron (TRX) and where a daily return of up to 20% was promised. This is of course too crazy and the only people who actually made money from it are the founders of this pyramid scheme.

The website is now no longer available and there are a lot of people who have lost a lot of money. With returns of this order, don’t assume that things will work out!

MX Trades & Investments

MX Trades & Investments could just have been a predecessor of GiroFX or Infinitrade, for example. This company would also make the investments for you with the help of a personal account manager. Here too, more and more deposits were requested to eventually see your money go up in smoke. These “companies” will not cease to exist, because every time a new “company” is started, unfortunately…


Bitconnect is a big boy when it comes to crypto scams, which can be placed in the category of pyramid schemes. Again, astronomical returns were promised and there was even the possibility to lend Bitconnect’s token (BCC) to other users to earn interest, very strange yes.

In the end, Bitconnect was stopped by US authorities, after which the entire pyramid collapsed and a lot of money was lost. Bitconnect was so popular that the coin itself was also seen as a good investment, you can see how that turned out below:


PCMex Global

PCMex Global was an ICO scam and the successor to the XTTMT scam. The token XQE was promoted on their website, but as you can imagine everything on this site was fake. Once you transferred your hard-earned BTC to the website for the XQE ICO, it was no longer yours and you didn’t get anything in return. After 3-4 months the website was shut down and the scammers ran off with the money.

in 2017 during the ICO hype, this was a common occurrence, but that doesn’t mean it doesn’t happen anymore. The ICO of XQE was just this summer and who knows what the next ICO scam from these scammers will be. So with ICOs, make sure you do proper research on the team behind the project and always be critical. If you don’t trust it 100%, just don’t do it.


A wide range of different scams has been discussed above, some more sophisticated than others, but in the end it always comes down to scammers out to take your money. It’s a very cruel world, the scam world, but still it’s best that you protect yourself from it.

The 2 most important tips I can give are:

  • Never give your login details or a 2FA code to someone else
  • If something sounds too good to be true, it usually is

Furthermore, it is important to always be critical and stay sharp, because the scammers will always come up with new ways.

Do you have any experiences with Crypto Scams yourself? Or are you looking for people who do have this and who can tell you more about it? Then start a discussion in the Crypto Facebook group or the Crypto Forum. Also let us know if you have any interesting ideas about a blog topic of your own. Who knows, we might write for you next time!



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