How to Quickly Identify a Crypto Scam. Tips From LATOKEN

3 min readJul 20, 2021


Criminals and crypto scammers have created so many ways to steal cryptocurrency. They create fake exchanges, run failed ICOs, rug pulls, email scams, social media scams; and this is not the whole list. It is essential for us that LATOKEN users and other crypto enthusiasts feel safe. Today we want to share ways to identify a crypto scam and stay safe.

Attackers and crypto scammers have established schemes that allow them to gain users’ trust to deceive them later.

We we want to provide some warnings sign to look for, so you can detect a crypto scam:


Crypto scammers, in most cases, rush their “clients” and try not to give them time to realize what is really happening. They often use manipulations and even threats for this purpose. Don’t be on the bit; don’t listen to those trying to confuse and rush you, do not forget to get acquainted with all the available information. It is very important, so do not underestimate this advice.

For example, do you remember that story about crypto scams on Tinder? You can read it on the LATOKEN Medium page.

You can also find more relevant information, reading our article “Dating App User Lost £20,000 because of Cryptocurrency Scam. How Can You Avoid Being the Next?”

Exclusive information

To attract attention, crypto scammers often use the “secret bugs” trick. On social networks, scammers often “share information” about an allegedly erroneous exchange rate or, vice versa, something successful and unique. Both are losses of money. Don’t get fooled by such tricks and crypto scams. In addition, promises of inflated profitability are also among the dangerous factors that indicate a possible crypto scam.


If you have to send a token or make a transfer in payment systems with a low level of data verification, you should be very careful. Crypto scammers very often use the features of these systems for their own benefit. For cryptocurrencies, these are non-refundable transactions. Therefore, perform all transactions on crypto exchanges that you trust. For example, if you want to buy, sell or deposit crypto and feel secure about your cryptocurrency, you should definitely visit LATOKEN exchange.

LATOKEN mobile exchange is the fastest-growing category in 1Q2021, according to Google Play, with close to 1 million installs and a 4.2 user rating. So you can forget about any LATOKEN scam!

No refund

Users who have become victims of crypto scammers have the opportunity to contact law enforcement, but this does not give any chance that the stolen funds will be returned.

In very rare cases, crypto scammers could make a mistake and get caught, but even in this case, the crypto scammers may no longer have stolen money.

It is almost impossible to return cryptocurrencies, even if law enforcement officers had a great desire and authority. The very essence of cryptocurrencies implies the absence of a management function on the part of central organizations.

LATOKEN cares about its clients and anyone who deals with crypto, and more than once touched upon the topic of crypto scams and ways to avoid becoming a victim.

You can find more useful information about crypto scams in the article “How to Avoid Crypto Scams: Essential Tips from LATOKEN.”


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LATOKEN crypto exchange does not provide any investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like other assets, cryptocurrency is subject to market risk. Please do your own research and trade with caution.




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