Cryptocurrency Phone Scam

Crypto fraud reports to the FBI's IC3 exceeded $5 billion in 2024 — and many start with a phone call or a friendly DM that transitions to one. "Pig-butchering" is the dominant style: weeks of relationship-building before the scam closes.

Warning signs

• Cold caller pitching "guaranteed" crypto returns.
• Tip-offs about new exchanges or coins you "must get in on".
• Romance contact who slowly steers conversation to crypto trading.
• Pressure to deposit on platforms you have not heard of.

Real-world scripts

• "We have an algorithmic trading platform returning 20% a month — start with just $500."
• "I made $200,000 on this exchange — my uncle taught me. You should try it."

If you receive this call

• Never send crypto to a number or contact who called you, however friendly.
• If you're investing, use US-regulated exchanges only.
• Report at ic3.gov immediately if you've been hit.

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