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A crypto scam involves fraudulent schemes to trick people into investing in cryptocurrencies. Scammers often promise huge returns on investments. They may use high-pressure sales tactics or offer "exclusive" opportunities. Crypto scams often involve "pump and dump" schemes. Here, scammers inflate the price of a lesser-known cryptocurrency. They convince others to invest, then sell their shares at the high price, causing the value to plummet. Scammers also use fake initial coin offerings (ICO). They create a flashy website and invent a compelling backstory. They then persuade people to buy a new cryptocurrency that doesn't exist. In Ponzi crypto scams, initial investors see good returns, paid from the investments of new participants. These scams collapse when there aren't enough new investors.