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A crypto scam is a fraudulent scheme. It tricks people into investing in non-existent cryptocurrencies. Scammers promise high returns and low risks to lure victims. They use sophisticated websites and social media campaigns. These make their operations seem legitimate. In a common tactic, scammers ask for an initial investment. They promise huge profits in return. Once the money is transferred, they disappear. The victim is left with no way to recover their funds. Another method is through fake initial coin offerings (ICOs). Scammers create a hype around a new cryptocurrency. They collect funds from investors, then vanish. A third tactic is the Ponzi scheme. Early investors are paid returns from the investments of later participants. This gives the illusion of a profitable investment, but eventually collapses when there are no more new investors.