Cryptocurrency Giveaway Deposit-Doubling Scam

Some websites use a public figure's name or image to advertise a fake cryptocurrency giveaway. They tell visitors to send coins to a wallet address first and promise to return twice as much. The promised giveaway is not a legitimate way to receive cryptocurrency: sending funds gives the visitor no reliable way to recover them.

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Cryptocurrency Giveaway Deposit-Doubling Scam example

How this scam works

  1. 1

    A website uses a familiar public figure's name, photographs, or political branding to make a cryptocurrency offer look official.

  2. 2

    It claims that a very large amount of cryptocurrency is being given away and tells visitors to choose a coin and send funds to a special address.

  3. 3

    The page promises to return double the amount sent, sometimes with a minimum and maximum amount and a claim that each person can participate only once.

  4. 4

    A visitor who sends cryptocurrency may lose the funds. Cryptocurrency transfers are generally difficult or impossible to reverse.

✓ Do this

  • Do not send cryptocurrency to participate in a giveaway that promises to send back more than you paid.
  • If you already sent funds, save the website address, screenshots, wallet address, and transaction hash, and contact the exchange or wallet provider you used promptly.
  • Report the website and wallet address through the relevant platform and your local fraud-reporting service.

✗ Avoid this

  • Do not connect your wallet or share a recovery phrase, private key, password, or verification code.
  • Do not trust a celebrity photograph, political slogan, transaction list, or countdown as proof that a giveaway is real.
  • Do not pay anyone who later promises to recover your cryptocurrency for an upfront fee.

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