Crypto Scams

What to look out for in the world of crypto

In the ever-growing universe of cryptocurrencies, the opportunities for financial advancement are limitless, but they are also fraught with pitfalls, particularly in the form of cryptocurrency scams. This comprehensive guide aims to provide education on common scams, strategies to recognise them and measures to protect your digital assets.


X4T values your security and will never ask for your wallet address, personal information or funds. Our support team will also never contact you unsolicited to obtain such information. We understand that trust is essential in digital finance, so our qualified support team is always ready to verify the authenticity of any communication claiming to be from us.



Examples of common fraud methods are provided to illustrate what fraud can look like. These include:

Promising free assets in exchange for a deposit, which is then stolen by scammers.
'Ponzi' or 'pyramid' schemes that promise high returns for top members and operate at the expense of new recruits. This is one of the most common methods of scamming, since it not prohibited or a scam per se, but rather an intransparent investing scheme, promising high returns and low cost. If things sound too good to be true, they mostly are. Mostly dependand on referral- and affiliate programs.
Requesting your wallet address under the pretence of wanting to help you or verify account details.
Phishing scams that use fake websites to try to get your login details.
'Pump and dump' scams, where the price of a currency is artificially inflated and then dumped, resulting in losses for subsequent investors.



If you have any doubts or concerns about a communication or transaction, it is strongly recommended that you contact our support team immediately. Experience has shown that scammers are using the communication app Telegram more and more for their scams.



To ensure the security of your digital assets, you should:

Research platforms and investment opportunities thoroughly.
Only use official customer support channels to confirm identities
Choose a secure wallet to store your cryptocurrencies, ideally a hardware wallet
Handle personal and financial information online with care.
Enable two-factor authentication.
Ensure that your device software is updated regularly.



It's essential to always assess the source of any information you receive and only trust trusted, official channels to protect yourself from fraudsters. Recognising fraud can be difficult; if in doubt, do not take any action and contact support. It is important to stay informed and vigilant to defend yourself against these threats.



Please note: Once you have withdrawn your funds from X4T, there is nothing more we can do. Once sent to another address, the crypto is out of our reach. We cannot retroactively cancel transactions nor return them. We encourage all our clients to thoroughly research before sending funds to another address. It is always recommended to try a test amount first.

Updated on: 30/07/2024