Crypto adoption in Europe is growing rapidly. More users are looking to buy crypto safely, but the surge in interest has also attracted increasingly sophisticated scammers. In 2025, crypto scams exploit advanced technology, social engineering, and deceptive financial schemes. Understanding these threats is crucial for anyone trading or investing. Here’s a guide to seven common crypto scams in Europe and how to avoid them.
1. AI-Generated Deepfake Scams
AI-generated deepfakes are used to impersonate trusted figures such as CEOs, influencers, or even friends and family. Fraudsters can create highly realistic videos or voice messages asking users to send funds or reveal wallet keys.
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A deepfake video or audio message is sent, often via social media or messaging apps.
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The scammer instructs the victim to send cryptocurrency or share sensitive wallet credentials.
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AI-generated content makes it difficult to distinguish between real and fake communications.
Example: In 2024, scammers used deepfake videos of Elon Musk to promote fake crypto giveaways, collecting millions in BTC. Always verify offers through official channels.
Elon Musk deep fake case. Source: Ampyxcyber.
2. “Too Good to Be True” Investments
These scams involve fake investment platforms promising unrealistically high returns. Victims are lured to deposit funds in hopes of multiplying their holdings.
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Scammers pose as professional traders or investment managers.
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They create polished websites or apps with financial jargon to appear legitimate.
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Initial small payouts may occur to build trust, followed by requests for larger deposits, which are never returned.
Tip: Use reputable exchanges to buy BTC or other verified cryptocurrencies. Avoid platforms promising guaranteed profits.
3. DeFi Rug Pulls
Rug pulls occur when developers of decentralized finance (DeFi) projects drain all user funds and disappear. In 2025, memecoins have become frequent targets due to hype-driven investments.
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Developers create a token or DeFi protocol that appears legitimate.
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Investors deposit crypto into the project, often buying memecoins.
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Developers execute malicious smart contracts or withdraw liquidity, leaving investors with worthless tokens.
Example: The Meteora memecoin scam manipulated token prices and used over 150 wallets to acquire 95% of the supply before selling, causing massive investor losses.
4. Phishing Attacks
Phishing scams steal wallet credentials by directing users to fake websites or forms. They often impersonate exchange support teams or project leaders.
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Victim receives an email, chat message, or social media DM.
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The message contains a link to a fraudulent website mimicking a real exchange.
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Users enter private keys or seed phrases, which scammers then use to access wallets.
Prevention: Enable MFA and hardware wallets when trading. Trusted platforms allow you to buy stablecoins without exposing your private keys.
5. False Giveaways
Scammers often pose as celebrities or exchanges, promising double or triple returns for sending crypto. These scams exploit urgency and fear of missing out (FOMO).
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Promotions appear on social media or fraudulent websites.
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Victims are asked to send cryptocurrency to a provided address.
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Once funds are sent, scammers disappear, and victims receive nothing in return.
6. Pig Butchering Scams
Pig butchering involves building long-term trust with victims before persuading them to invest in fake crypto schemes. Often, scammers pose as friends, romantic interests, or investment advisors.
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Scammer contacts the victim and nurtures a relationship over weeks or months.
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Victim is convinced to deposit increasing amounts into fraudulent crypto accounts.
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Once funds are significant, the scammer disappears.
7. Pump-and-Dump Schemes
Pump-and-dump schemes manipulate token prices using hype, often targeting volatile or new assets. Investors are lured by sudden price spikes.
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Scammers coordinate to buy large amounts of a token, creating artificial demand.
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Social media hype draws in unsuspecting investors.
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Once the price peaks, scammers sell their holdings, causing the price to collapse.
How to Stay Safe in 2025
- Trade only on well-known, regulated platforms.
- Store crypto securely using hot and cold wallets.
- Research all projects and verify team credentials.
- Enable MFA and use secure networks.
- Avoid rushed investment decisions or promises of risk-free returns.
- Educate yourself about emerging scams, from AI deepfakes to wallet drainers.
Reporting Crypto Scams
If you encounter a scam:
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Report it to local law enforcement and financial regulators.
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Notify social media platforms hosting the scam.
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Contact trusted exchanges or communities to warn others.
Providing detailed evidence can prevent further fraud and may help recover lost funds.
By understanding scam mechanics and relying on secure, trusted platforms, like Guardarian, you can safely navigate the crypto market, confidently buy crypto while avoiding potential pitfalls.
