Crypto Scam Warning: How to Spot Fake Coins, Fake Exchanges, and Airdrop Scams

When you hear about a new crypto scam, a deceptive scheme designed to steal your money under the guise of a legitimate cryptocurrency project, it’s not just a warning—it’s a survival alert. These scams aren’t rare. They’re everywhere: fake trading platforms like BitAI, a crypto exchange with no real team, no regulation, and no verifiable history, or tokens like BananaGuy, a meme coin with zero utility, no code, and a team that vanishes after the hype. And then there are the airdrops—free tokens that aren’t free at all. Projects like SWAPP Protocol, a fake airdrop that doesn’t exist but tricks users into connecting wallets and paying gas fees—they’re all designed to drain your funds before you even realize what happened.

Here’s the truth: most crypto scams follow the same playbook. They promise high returns, use buzzwords like "AI" or "DeFi" to sound smart, and pressure you to act fast. If a project has no public team, no GitHub activity, no real community, and no audit, it’s not a coin—it’s a trap. The SEC Howey Test, a legal standard used to decide if a crypto asset is a security isn’t just for lawyers—it’s your first filter. If a token is sold as an investment expecting profit from others’ work, it’s likely illegal. And if you’re being asked to send crypto to claim a "free" airdrop? That’s not a gift. It’s a theft. Real airdrops don’t ask for your private keys. They don’t charge gas fees upfront. They don’t require you to join 10 Telegram groups just to get a token worth pennies.

Look at what happened with Ancient Kingdom (DOM), a blockchain game airdrop that promised a play-to-earn future but never launched a single game. Or BitAsset, an exchange that claimed to offer derivatives but had zero security and a trail of angry users. These weren’t failures—they were designed to fail. The people behind them walked away with millions. The rest of us were left with empty wallets. You don’t need to be a tech expert to avoid these traps. You just need to ask: Who’s behind this? Is there proof? Are they hiding? And most importantly—why are they in such a hurry?

Below, you’ll find real reviews of projects that turned out to be scams, warnings about fake airdrops still circulating, and breakdowns of how even "legit" platforms can hide dangerous risks. No fluff. No hype. Just facts, red flags, and what to do instead.