Crypto Exchange Scams: How to Spot and Avoid Fake Platforms

When you hear crypto exchange scams, fraudulent platforms that steal user funds by pretending to be legitimate trading sites. Also known as fake crypto exchanges, they often copy the look of real platforms like Binance or Coinbase but vanish overnight with your crypto. These aren’t just shady websites—they’re organized operations that use fake reviews, influencer shilling, and fake customer support to trick people into depositing funds they’ll never see again.

One of the most common tricks is the unregulated exchange, a trading platform that operates without any government oversight or licensing. Examples like ZT Exchange and Karatbit show up in reviews because users report failed withdrawals, hidden fees, and support that never answers. These platforms don’t need to be legal to make money—they just need enough people to trust them long enough to drain their wallets. Then there’s the crypto exchange fraud, when a platform creates fake tokens or airdrops to lure in users, then shuts down the site. The CAKEBANK airdrop? No official team, no exchange listings, just a token trading at $0.00000207 with zero community. That’s not a mistake—that’s a trap. Even airdrops like Peanut.Trade (NUX) and ExzoCoin 2.0 (NZT) sound legit at first, but if the token’s value drops 99% and no one knows who’s behind it, you’re not getting rich—you’re getting scammed.

How do you avoid these traps? Look for three things: licensing (like a BitLicense or FinCEN registration), real user reviews with names and dates, and trading volume on CoinGecko or CoinMarketCap. If a platform has no public team, no transparency, and no history, walk away. Real exchanges don’t hide behind vague terms of service or promise 10x returns overnight. They follow rules, answer questions, and keep your funds safe.

The posts below break down real cases—ZT Exchange, Karatbit, Shido DEX, Scalpex—where users lost money because they skipped the basics. You’ll find clear checklists, red flags to watch for, and alternatives that actually work. No fluff. No hype. Just what you need to protect your crypto.