Fake Crypto Platform: How to Spot Scams and Avoid Lost Funds

When you hear about a new crypto project promising huge returns with no effort, chances are you're dealing with a fake crypto platform, a deceptive project designed to steal your money under the guise of innovation. These aren’t just risky—they’re often completely fake, with no team, no code, and no future. They show up as airdrops you never signed up for, tokens with zero trading volume, or exchanges that don’t actually exist. And they’re getting smarter.

Look at the names: Unbound NFTs (UNB), ShibaKeanu (SHIBK), KEKE Terminal, Cougar Exchange, Boboo. These sound real, but they’re all dead or never existed. Some are just ticker hijacking—using a name that sounds like a legit project to trick you into buying worthless tokens. Others pretend to be exchanges when they’re really just tokens floating on decentralized markets. The fake airdrop, a lure used to collect wallets and private keys under false promises of free tokens is one of the most common traps. You get an email, a tweet, or a Discord message saying you’re eligible for free tokens. You click, connect your wallet, and suddenly your funds are gone. No tokens arrive. Just empty pockets.

These scams thrive because people don’t know what to look for. A real project has public code, active developers, exchange listings, and community discussions. A fake one has a website that looks professional but no GitHub, no team photos, no Twitter replies from real users. If a token has $0 trading volume on CoinGecko or CoinMarketCap, it’s not a coin—it’s a ghost. And if a platform claims to be an exchange but isn’t listed on any official regulator’s site, it’s not a platform—it’s a trap.

Some of these scams even use real names from legitimate projects to confuse you. Like when crypto regulation, the legal framework that separates licensed exchanges from fraudsters is ignored. In Japan, the FSA and PSA require strict licensing. In Qatar, crypto is banned for institutions. But in the shadows, fake platforms pop up everywhere, targeting people who don’t know the rules. You don’t need to be an expert to avoid them—just learn to check the basics: Is there real trading? Is there a public team? Is it listed on any major exchange?

The worst part? These scams don’t just steal money. They make people lose trust in crypto entirely. And that’s exactly what the scammers want. Because when you get burned once, you might walk away from Bitcoin, Ethereum, or DeFi—projects that actually work.

Below, you’ll find real breakdowns of the most common fake crypto platforms, dead tokens, and fake airdrops that have flooded the market. No fluff. No hype. Just facts: what they are, why they’re fake, and how to spot the next one before you click "Connect Wallet."