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A crypto exchange scam involves fraudulent platforms pretending to be legitimate cryptocurrency exchanges. Scammers often promise high returns on investments and guaranteed profits. They lure victims with attractive offers and sophisticated websites that mimic real exchanges. These fake exchanges may also use fake endorsements from celebrities or influencers to gain trust. They typically ask for personal information and financial details. Once they have access, they drain the victim's funds. Scammers use high-pressure tactics to rush decisions. They may also create fake accounts to show false trading volumes and success stories. Victims often realize the scam too late, after their money is gone.