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A crypto scam involves fraudsters tricking individuals into investing in fake cryptocurrencies or schemes. These scams often promise high returns with little to no risk. Scammers create convincing websites and social media profiles to appear legitimate. They frequently use celebrity endorsements and fake testimonials to gain trust. Victims are often lured through unsolicited messages or emails. Scammers may ask for personal information or direct payments in cryptocurrency. Once the money is sent, it becomes nearly impossible to recover. Many scams also involve fake initial coin offerings (ICOs) or pump-and-dump schemes, where the value of a fake cryptocurrency is artificially inflated before being sold off by the scammers. The deception is sophisticated, making it challenging to distinguish from genuine opportunities.