Cryptocurrency investment scams are on the rise. Fraudsters use sophisticated tactics to gain trust, manufacture urgency, and move funds before victims realise what has happened. This article explains the most common warning signs and what to do if you suspect you are being targeted.
Who fraudsters pretend to be
Scammers rarely approach victims as strangers. They typically adopt a trusted identity to lower your guard. Common impersonations include:
Investment experts or financial advisers offering exclusive opportunities
Romantic partners met through dating apps or social media
Trusted contacts or community members (a tactic known as affinity fraud)
Bitfinex representatives offering private investment deals or special returns
Important: Bitfinex employees will never contact you to offer a private investment opportunity, special returns, or an exclusive deal. If someone approaches you claiming to represent Bitfinex and encourages you to invest, contact us immediately via our security contact form.
Warning signs to watch for
Guaranteed or unusually high returns
All investments carry risk. Anyone who guarantees you will make money, particularly large or consistent returns regardless of market conditions, is either lying or promoting a fraudulent scheme.
Pressure to act quickly
Legitimate investments do not disappear overnight. If someone insists you must decide immediately or risk missing out, that is a deliberate tactic designed to stop you from consulting others or researching the opportunity. Take your time. Any trustworthy adviser will respect that.
Instructions on exactly what to buy or where to send funds
Be cautious if someone tells you precisely which cryptocurrency to purchase and directs you to send it to a specific external wallet or platform. This is a common pattern in cryptocurrency investment scams, sometimes called "pig butchering," where scammers build a relationship, show fake profits, and then instruct victims to move funds until they disappear with everything.
Requests for secrecy
A scammer will often ask you to keep the investment confidential. If someone tells you not to inform family members or says your bank "would not understand," treat that as a serious warning sign. A legitimate adviser will welcome outside review.
Requests for unusual payment methods
If you are asked to send funds via cryptocurrency, wire transfer, gift cards, or cash, refuse. These methods are difficult or impossible to reverse. Scammers use them specifically because stolen funds cannot be recovered.
Unverifiable credentials
Always verify independently that the person and the investment are registered with the relevant regulatory authority. If someone claims credentials that you cannot confirm through an official source, do not proceed.
What Bitfinex will never ask you to do
Move funds to an external wallet as part of an investment opportunity
Make a deposit to "unlock" returns, recover funds, or pay unexpected fees
Share your account credentials, two-factor authentication codes, or allow remote access to your device
Transfer cryptocurrency to a wallet address provided through unofficial channels
If you receive any request of this kind from someone claiming to be Bitfinex, do not comply. Contact our Bitfinex Support team immediately.
What to do if you think you are being targeted
If something feels wrong, trust that instinct. You do not owe anyone an explanation for stopping contact.
Stop all communication with the suspected scammer immediately.
Do not send any further funds. Sending more will not recover earlier losses.
Save all evidence: emails, messages, transaction records, wallet addresses, and phone numbers.
Contact your bank if you have shared account information or transferred funds.
Report the incident to your local law enforcement or financial regulator.
Contact Bitfinex Support via our security contact form.
Not sure if a deposit or withdrawal is legitimate? Contact us first.
If you are uncertain about a transaction, reach out to Bitfinex Support before you proceed. Our customer service team is available 24/7 through Live Chat or by sending us a ticket to Bitfinex Support.
You can also verify whether a website or social media account belongs to Bitfinex using the Bitfinex Channels page.
Important: To further protect your account, read our guide on Security Best Practices and How to protect a Bitfinex account from phishing scams.