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A crypto exchange scam is a fraudulent operation. Scammers often promote these as easy ways to make big profits from cryptocurrencies. The scammer will usually set up a fake cryptocurrency exchange. They market this exchange heavily, promising high returns. These fraudsters use sophisticated tactics. One of them is social engineering, where they manipulate victims into revealing personal information. They can also use malicious software, or malware, to steal sensitive data. Crypto scams have several telltale signs. Unusually high rates of return is the most common. Another sign is heavy promotional activity. If you see this, be wary. These promises are often too good to be true. Unfortunately, once the scam is revealed, the victims' money is usually gone. The scammer closes the exchange and disappears. With the increasing popularity of cryptocurrencies, the number of scams is also rising.