Cryptocurrency & Investment Fraud Prevention

It often starts with a simple “wrong number” text.

“Hi, are we still meeting for coffee?”

Or maybe it’s a match on a dating app who seems just a little too perfect. They are attractive, successful, and surprisingly interested in you. You talk for weeks. You bond. They don’t ask for money—at least, not at first.

Then, they casually mention how they made 20% profit on a trade yesterday. They want to show you how to do it. It feels safe because you are the one pressing the buttons. You see the numbers go up on the screen. You feel like a genius.

Then you try to withdraw. And suddenly, your money is gone.

This isn’t just a “bad investment.” This is a sophisticated, psychological weapon used by organized crime syndicates. It’s called “Pig Butchering,” and it is wiping out life savings across the globe.

If you are reading this, you are likely in one of two positions: you are looking for legitimate ways to make money online and are terrified of clicking the wrong link, or you have that sinking feeling in your stomach that the “opportunity” you just joined isn’t right.

Stop what you are doing. Put your wallet away. Read this guide.

The Dual Mission

Here at Earn More Cash Today, we have a specific goal. We want you to build wealth. We want you to find those legitimate side hustles, freelance gigs, and smart investments that can change your financial situation.

But here is the hard truth: Making money is useless if you cannot keep it.

There is a tension in the online world. You need to take calculated risks to earn, but scammers rely on your desire for financial freedom to trap you. My job, as an IT professional and online safety advocate, is to stand between you and the fraud.

We are going to walk through the darkest corners of crypto fraud so you can spot them a mile away.

The “Pig Butchering” Scam (Sha Zhu Pan)

You might have heard this term in the news. It sounds gruesome because the analogy is accurate. The scammers “fatten” the victim up with flattery, friendship, and fake profits before the “slaughter”—stealing everything.

Unlike the old “Nigerian Prince” emails which were full of typos and easy to spot, these scams are highly sophisticated. They play the long game.

The Contact

It usually happens on WhatsApp, Telegram, or a dating app. The scammer poses as a wealthy individual. They might claim to be an Asian beauty, a successful European businessman, or a crypto expert.

They don’t pitch you an investment immediately. They ask about your day. They ask about your family. They build a relationship. This can go on for weeks or even months. They are patient.

The Fattening (The Grooming)

Eventually, money comes up. They send a screenshot of their “gains.” They claim to have inside information or a “teacher” who guides them.

They will tell you to download a legitimate app like Coinbase or Binance. This lowers your guard because you trust those brands. But then, they tell you to move your crypto from that safe wallet to a “special trading platform” or a “mining pool.”

This is the trap.

That “platform” is a fake website controlled by them.

The Bait

They let you win.

You invest $500. A day later, the screen shows you have $600. They encourage you to withdraw that $100 profit to your bank account. It works!

You think, “Wow, this is legit. I actually got money out.”

This is the most dangerous moment. They gave you $100 to gain your trust so they can steal $10,000 later. Now you are confident. You start pouring in your savings. You borrow money. You tell your friends.

The Slaughter

You try to withdraw a large amount. Suddenly, there is an issue.

• “You need to pay a 20% tax to withdraw.”
• “Your account is frozen for security verification.”
• “You need to reach a higher VIP tier.”

You panic. You pay the “tax.” That money disappears too. The “friend” who helped you suddenly vanishes or claims they are having the same problem. The money was never invested. It went straight to the scammer’s wallet the moment you sent it.

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Ponzi Schemes disguised as “Crypto Mining”

While Pig Butchering relies on romance and friendship, Ponzi schemes rely on greed and laziness.

A Ponzi scheme pays early investors with money collected from new investors. There is no actual trading. There is no product. The system collapses when they run out of new victims.

In the crypto space, these rarely look like the classic schemes of the past. They dress up in tech jargon to confuse you.

The “High-Yield” Investment Program (HYIP)

If you see a website promising 1% to 5% daily returns, run.

Let’s do the math. If you invest $1,000 at 3% daily compound interest, you would have millions of dollars in a year. Does that sound realistic? If someone had an algorithm that generated guaranteed profit, they would not sell it to you for $50. They would be the richest person on earth, quietly compounding their own money.

Cloud Mining Frauds

These sites claim they have massive warehouses full of Bitcoin miners. You “rent” a machine, and they pay you daily.

Most of the time, the machines don’t exist. The photos on their website are stolen from legitimate data centers. The “dashboard” showing your mining progress is just a looped animation.

The “Referral” Trap

Legitimate businesses have referral programs. But if a project focuses more on recruiting new members than on the product itself, it is a pyramid scheme.

If the only way to make your money back is to convince your Aunt and your coworker to join, you are not an investor. You are a victim, and you are being used to victimize others.

The “Is This Legit?” Checklist

I have reviewed hundreds of scam sites as a website administrator. They all share the same DNA. Before you transfer a single cent, run the opportunity through this fraud prevention checklist.

1. The “Guaranteed” Promise

• The Red Flag: The website uses words like “Risk-Free,” “Guaranteed Returns,” or “100% Secure.”
• The Reality: All investment carries risk. Even Bitcoin drops in value. If they say there is no risk, they are lying.

2. The Anonymous Team

• The Red Flag: You check the “About Us” page, and there are no names. Or, there are generic photos of people in suits that look like stock images.
• The Reality: Legitimate crypto projects have developers with public profiles (LinkedIn, GitHub, Twitter). If the CEO is a ghost, your money will become a ghost too.

3. The URL Check

• The Red Flag: The website address is slightly off. Instead of coinbase.com, it’s coinbase-vip-support.net or secure-wallet-verify.com.
• The Reality: Scammers register domains that sound official. Always check the exact spelling.

4. Pressure Tactics

• The Red Flag: “Offer expires in 10 minutes!” “Only 2 spots left!”
• The Reality: Real investments will still be there tomorrow. Scammers need you to act fast so you don’t have time to think or research.

5. Communication via Text/Telegram Only

• The Red Flag: Official support for a major exchange will never contact you via Telegram DM to ask for your password or seed phrase.
• The Reality: If a stranger messages you first about crypto, it is a scam. 100% of the time.

How to Protect Yourself

You want to earn cash online. I want you to succeed. Here is how you lock down your digital life.

1. Use the “Lookup” Method

Before joining any platform, go to Google. Type the name of the platform followed by the word “scam” or “review.”

• Search: “Wexnozy scam”
• Search: “Wexnozy review”

If people are complaining about frozen withdrawals, stay away. If there are zero results because the site is brand new, that is even more suspicious.

2. Perform a WHOIS Search

Scammers often claim their company has been running for 10 years. You can verify this.

1. Go to a site like who.is or lookup.icann.org.
2. Type in the domain name of the investment site.
3. Look at the “Registered On” date.

If they claim to be an “established global broker” but the domain was registered 3 weeks ago, you have caught them in a lie.

3. Reverse Image Search

Is that attractive person on Instagram really who they say they are?

1. Take a screenshot of their profile picture.
2. Upload it to Google Images or Yandex Images.
3. See where else it appears.

Often, you will find that the photo belongs to a random fitness model in Brazil or a fashion blogger in Russia, not the “crypto expert” talking to you.

4. Isolate Your Wallet

Never connect your main savings wallet to a new or unknown site.

• Create a “Burner Wallet” (a new Metamask or Trust Wallet) with only the small amount of money you intend to use.
• If the site is malicious and tries to drain your wallet, they only get the small amount, not your life savings.

5. The “Too Good To Be True” Gut Check

This is your best defense. Ask yourself: Why would a stranger on the internet want to make me rich? Why aren’t they keeping this secret for themselves?

If the answer doesn’t make sense, close the chat.

The “Recovery Scam” (The Second Attack)

This is the most heartbreaking part of the fraud cycle.

If you have already lost money to a scam, you are vulnerable. You are angry, desperate, and looking for a way to fix it.

Scammers know this. They hang out in the comments sections of fraud warning videos and blogs. They post things like: “I lost $50k but Agent Smith on Instagram helped me hack the blockchain and get it back!”

Do not believe them.

How Recovery Scams Work

1. You contact the “recovery agent.”
2. They claim they have special software to track the scammers.
3. They show you a fake screenshot of your “frozen” funds.
4. They ask for an upfront “service fee” or “legal fee” to release the money.
5. You pay the fee.
6. They disappear.

NOTE: Crypto transactions are irreversible. No hacker, no lawyer, and no FBI agent can “reverse” a blockchain transaction once it is confirmed. If someone says they can, they are lying to steal the last of your money.

Our Expert Take

I have been in the IT and website administration space for a long time. I have seen trends come and go. I have watched friends get excited about the “next big thing” only to lose months of salary.

Here is my honest take: There is no such thing as easy, passive money in crypto.

Real money is made through work. It is made by learning a skill, by trading with risk management (which is hard!), or by investing in solid projects and holding them for years.

The scammers rely on your impatience. They exploit the fact that life is expensive and everyone wants a shortcut.

If you want to earn more cash today, look for freelance work. Look for affiliate marketing. Look for content creation. Look for verified investment platforms regulated by financial authorities.

If a platform requires you to recruit others to get paid, it’s a pyramid. If a stranger loves you after two days and talks about Bitcoin, it’s a butcher.

Be skeptical. Be safe. And remember, keeping your $1,000 safe is better than gambling it on a fake promise of $10,000.

Frequently Asked Questions (FAQ)

Can I get my money back from a crypto scammer?

In most cases, unfortunately, the answer is no. Cryptocurrency transactions are anonymous and irreversible. Your best option is to report it to law enforcement (like the FBI’s IC3 or your local cybercrime unit) and the exchange you used (like Binance or Coinbase). Never trust anyone claiming they can “hack” your money back.

Is crypto mining legit?

Crypto mining itself is a legitimate technical process. However, “Cloud Mining” websites where you pay money to rent equipment you never see are almost always scams. Unless you are buying physical hardware and plugging it in at home, be extremely cautious.

How do I know if a crypto exchange is safe?

Stick to the major, regulated exchanges. Look for platforms that are publicly traded or have high compliance standards. Avoid “exclusive” or “private” exchanges that someone sends you a link to via WhatsApp.

What is a “Rug Pull”?

A rug pull happens when the developers of a new crypto token hype it up to increase the price, then sell all their tokens at once and abandon the project. The price crashes to zero, and investors lose everything.

Why do scammers use USDT (Tether)?

Scammers prefer stablecoins like USDT because the value doesn’t fluctuate like Bitcoin. It allows them to steal a predictable dollar amount from you. Just because a transaction is in USDT doesn’t mean it’s safe.

How to Spot Fake Reviews Online & Protect Yourself

Stay vigilant. If you found this guide helpful, share it with your friends and family. You might just save someone from losing their life savings.