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A crypto scam involves fraudsters tricking people into investing in fake cryptocurrencies. They promise high returns and minimal risk, which is a red flag. Real investments always come with some level of risk. Scammers use sophisticated tactics, like professional-looking websites and testimonials from "happy investors." They may even impersonate legitimate crypto businesses. Ponzi schemes are a common type of crypto scam. Here, returns for older investors are paid with money from new investors. This is unsustainable and eventually collapses. Another type is the "pump and dump" scheme. Scammers hype up a cryptocurrency, causing the price to inflate. Once the price is high, they sell off their share, causing the price to plummet and investors to lose their money. In an exit scam, fraudsters create a new cryptocurrency, gather investments, then disappear with the money. This leaves investors with worthless tokens.