Cryptocurrency investment fraud is a plague of our times. Based on my experience as an attorney handling numerous cases of cryptocurrency fraud, I have compiled 7 practical rules that will help protect you and your assets.
Rule 1: If it sounds too good to be true, it is
No legitimate investment guarantees returns of 100%, 200%, or more. Promises of quick, guaranteed, risk-free profits are the hallmark of every scam. In the real world of investments, higher returns always come with higher risk.
Rule 2: Verify the entity
Before investing any money, verify who you are dealing with. Check: registration in official registers, physical address, team members’ identities, regulatory licenses, and reviews from other investors. If any of these cannot be verified – walk away.
Rule 3: Never invest under pressure
Scammers always create urgency: “limited time offer,” “last spots available,” “price going up tomorrow.” Legitimate investments do not require immediate decisions. Take your time to research and consult with professionals.
Rule 4: Be wary of unsolicited contact
If someone contacts you out of the blue with an “amazing investment opportunity” – via phone, email, social media, or dating apps – it is almost certainly a scam. Legitimate investment firms do not cold-call potential clients with guaranteed returns.
Rule 5: Understand what you are investing in
If you cannot explain the investment to a friend in simple terms, you probably don’t understand it yourself. Scammers deliberately use complex jargon and opaque structures to confuse victims. Ask questions until you fully understand the product.
Rule 6: Never give remote access to your devices
A common technique of crypto scammers is to ask victims to install remote access software (AnyDesk, TeamViewer) on their computers or phones. This gives them direct access to your bank accounts, cryptocurrency wallets, and personal data. No legitimate service provider would ask for this.
Rule 7: If you are a victim, act immediately
If you have been defrauded:
- Report to the police immediately.
- Contact your bank to block transactions.
- Preserve all evidence: screenshots, emails, transaction records.
- Consult a lawyer experienced in cryptocurrency fraud cases.
- Report to GIIF (General Inspector of Financial Information) if cryptocurrency transfers were involved.
Remember: the sooner you act, the greater the chance of recovering your funds.
Paweł Osiński
Attorney, expert in cryptocurrency fraud and cybercrime