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A crypto scam is a fraudulent scheme involving cryptocurrencies. Scammers often promise high returns and minimal risk. They use various tactics to lure unsuspecting victims. One common method is Ponzi schemes. Here, scammers promise high returns to early investors using funds from new investors. The scheme collapses when there are not enough new investors. Another tactic is fake ICOs (Initial Coin Offerings). Scammers create a fake cryptocurrency and sell it to investors. Once they have collected enough money, they disappear. Pump and dump schemes are also common. Scammers artificially inflate the price of a low-value cryptocurrency. Once the price is high, they sell their shares and the price crashes. Lastly, phishing is a common tactic. Scammers use fake emails or websites to steal your crypto wallet credentials.