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A Crypto exchange scam typically occurs when fraudsters create a fake cryptocurrency exchange. These fraudsters lure unsuspecting investors by offering competitive market prices. They often promise high returns and low fees. They are known for their flashy advertising, often using social media platforms for promotion. These ads usually lead to professional-looking websites. The trick is, they make their platform look as legitimate as possible to entice people to invest. To appear authentic, these scam exchanges may incorporate features such as live trading charts. They even go as far as creating fake customer reviews or testimonials to build trust. Scammers typically involve depositing funds in a cryptocurrency like Bitcoin in exchange for a promise of high returns. After the money is transferred, they become unresponsive or the website disappears. Remember, if it sounds too good to be true, it probably is. Always do thorough research before investing in any cryptocurrency exchanges.