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A crypto exchange scam is a fraudulent scheme involving virtual currency exchange. Scammers may set up fake trading platforms, luring victims with promises of high returns and minimal risks. They may also use sophisticated websites, impersonating legitimate exchanges. Such sites often have striking similarities with the real ones, making it hard to distinguish them. Victims are tricked into depositing their cryptocurrencies into these rogue platforms. Once the deposit is made, victims are unable to withdraw their funds. Scammers may also manipulate the trading platform's data, creating an illusion of profits. The victims may then be prompted to invest more money. Often, these scams involve aggressive marketing tactics. They use flashy advertisements and persuasive sales pitches to attract potential victims. Some scams might even offer bonuses or rewards for new sign-ups or referrals. These scams are often highly organized and use social engineering techniques to gain the trust of their victims.