Common Crypto Frauds in India

Simran

India lost over Rs. 72,000 crore to crypto frauds since 2015; scams rising fast with low regulation and growing adoption.

Ponzi & fake apps promise high returns, show fake profits, then block withdrawals—major scams like GainBitcoin trapped investors.

Phishing & impersonation scams mimic exchanges to steal wallet keys via fake emails, apps, and WhatsApp or Telegram links.

Romance scams & AI deepfakes use trust or fake celebrity videos to push users into sending crypto funds.

Red flags: guaranteed returns, urgent pressure, unknown apps, and requests for private keys—never share sensitive details.

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