This Week in Crypto – Avoiding Crypto Scams

Key Takeaways

• Never share your 12-word seed phrase with anyone—legitimate projects will never ask for it. If someone claiming to be from a crypto project requests your seed phrase, it's a scam 100% of the time.
• Always verify sources directly: go to the official project website first, then click their social media links from there. Scammers create nearly identical accounts (e.g., 'True Badger official group' instead of 'True Badger official') to trick users.
• Keep all questions and conversations within official Telegram or Discord group channels where admins are present. If someone private messages you offering help, it's a scam—they're fishing for access to your wallet.
• Download wallet apps only from official App Stores and Google Play Store—check for high review counts and download numbers. Fake wallet apps that look identical to MetaMask and Trust Wallet steal seed phrases immediately upon entry.
• If an airdrop offer seems too good to be true, it is. Calculate the value of the offer (e.g., 50 BNB = ~$14,000)—legitimate projects don't give away huge sums of money for clicking a link or being part of their community.