1. BitConnect (2016–2018)

Undoubtedly the most infamous crypto scam of all time, BitConnect promised huge daily returns via its lending platform. In reality, it was a Ponzi scheme that collapsed in 2018, wiping out billions of user funds.

Lesson: Beware of guaranteed high yields. In crypto, nothing is without risk.

2. OneCoin (2014–2017)

Marketed as a revolutionary cryptocurrency, OneCoin was actually a fake coin that did not exist on a blockchain. It raised over 4 billion dollars from investors worldwide before the founder disappeared.

Lesson: Always check if a project operates on a real public blockchain.

3. MT. Gox Hack (2014)

MT. Gox was once the largest Bitcoin exchange, handling 70% of all BTC transactions. In 2014, it filed for bankruptcy after 850,000 BTC was 'lost' due to hacks and mismanagement.

Lesson: Do not leave large amounts of crypto on centralized exchanges.

4. PlusToken (2018–2019)

This scam promised users high returns via a wallet application. It collected over 2 billion dollars in cryptocurrencies before disappearing. Later, it was discovered that the stolen crypto was laundered through mixers and exchanges.

Lesson: Be wary of wallet applications that promote investment programs.

5. Thodex Exchange Exit Scam (2021)

A Turkish cryptocurrency exchange suddenly suspended its operations and its CEO disappeared, allegedly fleeing with over 2 billion dollars of customer funds.

Lesson: Look for the legitimacy and regulation of exchanges before using them.

6. Squid Game Token (SQUID) Rug Pull (2021)

Capitalizing on the popular Netflix series, the SQUID token gained value until the developers withdrew liquidity and disappeared, leaving investors with nothing.

Lesson: If a project does not allow selling, or lacks a clear vision, stay away.

7. WoToken (2018–2020)

Another Ponzi scheme similar to PlusToken, WoToken promised profits to trading bots and deceived over 700,000 users out of more than a billion dollars.

Lesson: Ponzi schemes often disguise themselves as trading bots or investment platforms.

8. Africrypt (2021)

Two brothers in South Africa disappeared with 3.6 billion dollars of Bitcoin from their investment company Africrypt. The company claimed to have been hacked, but many believe it was an inside job.

Lesson: A lack of transparency and centralized control is a warning sign.

9. ICO Scam Wave (2017–2018)

During the ICO boom, thousands of cryptocurrency projects were launched and raised funds, many of which had no real product. It is estimated that more than 80% of them were scams or failed projects.

Lesson: Do not invest based on hype, look for functional products and real businesses.

10. Crypto Twitter & YouTube Impersonators

Fake accounts impersonating real influencers like Elon Musk or Vitalik Buterin continue to deceive people with schemes like 'send 1 ETH to receive 2 ETH'.

Lesson: No legitimate project or influencer will ask for crypto in exchange for more crypto.