Scams involving investments in cryptocurrencies can occur in various ways, but they all involve false promises, such as incredibly high returns in a short period and fake guarantees. Those conducting the scams might establish legitimate investment websites, but later, you'll discover that you can't withdraw the money you thought you had invested.

In other cases, scammers impersonate famous individuals and distribute generous claims of multiplying any cryptocurrency you send. Scammers also utilize online dating websites to convince people to make false cryptocurrency investments in the name of love.