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A crypto scam is a fraudulent scheme involving cryptocurrencies. Scammers promise huge returns and minimal risk. They often create a sense of urgency to invest. One common tactic is the "pump and dump". Scammers inflate the price of a lesser-known cryptocurrency. Then, they quickly sell their coins once the price peaks. This leaves unsuspecting investors with worthless coins. In a Ponzi scheme, scammers promise high returns from a nonexistent business. Instead, they pay returns to earlier investors with funds from new investors. Scammers also use phishing. They send fake emails or texts, pretending to be a reputable crypto exchange. Their goal is to steal your login information and access your funds. It's important to remember that if something sounds too good to be true, it probably is.