Investment fraud using crypto keeps rising. According to Thailand’s Securities and Exchange Commission (SEC), reports and requests for advice about investment scams in the first half of 2026 rose by more than 150% compared with the same period a year earlier, and 60,968 digital asset mule accounts had been suspended as of the end of June 2026.
Scammers often target people with savings who are interested in investing. This article covers 6 common crypto scams, the warning signs to look for, and how to check before you invest in digital assets, so you and your family stay safe.
6 Common Crypto Scams
| Scam type | Warning signs |
|---|---|
| Guaranteed returns / Ponzi schemes | Promises of high daily or monthly profits with no risk, plus rewards for recruiting others |
| Romance investment scams | A stranger builds a close relationship online, then invites you to invest on a website or app they recommend |
| Fake apps or websites | Names or URLs that mimic real ones, links from ads or chats, withdrawals blocked or an “unlock fee” required first |
| Impersonating officials | Claims to be an admin, the SEC or the police, asks for your OTP, password or seed phrase, or tells you to move money to a “safe account” |
| Account-for-hire offers | Payment in exchange for opening a crypto account or lending yours, which may be used as a mule account |
| Fake airdrops or free tokens | Asks you to “Connect Wallet” or approve a transaction to claim a freebie, then drains your wallet |
Why Romance Investment Scams (“Pig Butchering”) Are So Dangerous
Scammers spend weeks building trust through chat. Sometimes they let victims withdraw small profits to win their confidence before persuading them to send a large sum. When the victim tries to withdraw, they are asked to pay extra “taxes” or “fees” until they can never get their money out.
Account-for-Hire Can Lead to Criminal Charges
Opening or letting others use your bank or crypto account for crime may be an offence under Thailand’s law on preventing and suppressing technology crime, even if you did not run the scam yourself.
⚠️ Maxbit will never ask for your password, OTP or seed phrase by phone, email or chat, and will never ask you to send money to another person’s account under any circumstances.
5 Checks Before You Invest
- Check the license. Confirm the platform is licensed by the Thai SEC on the SEC website or the SEC Check First app.
- Type the URL or search for the app yourself in an official app store. Do not tap links from ads, SMS or chats.
- Be suspicious of any “guarantee”. Every real investment carries risk, and no one can guarantee a profit.
- Deposit and withdraw only through a bank account in your own name. Legitimate platforms never ask you to pay into a personal account.
- Talk to someone you trust before sending a large sum. Scammers push you to decide fast and keep it secret.
What to Do Right Away If You Are Scammed
- Stop sending money, even if you are told you must pay a fee to withdraw.
- Contact your bank or platform as soon as possible to request a freeze on the receiving account.
- File a report online at thaipoliceonline.go.th or call the 1441 hotline.
- Report it to the SEC through the 1207 hotline.
- Keep all evidence, such as chats, transfer slips, wallet addresses and website links.
Learn more about storing coins safely in What Is a Crypto Wallet? and the correct identity verification steps in What Is KYC?
Frequently Asked Questions About Crypto Scams
How can I tell if a crypto platform is legitimate?
Check the list of licensed digital asset businesses on the Thai SEC website or the SEC Check First app, and make sure you are using the official website or app.
Someone invited me to invest in crypto by transferring to a personal account. Is that safe?
No. Licensed platforms only take deposits through company accounts and a bank account in your own name. Paying into a personal account is a red flag.
Can I get my money back after a scam?
It depends on how quickly you report it and whether the money is still in the system. The sooner you contact your bank and the police, the better the chance of freezing the funds.
Invest Safely, Starting with a Platform You Can Verify
Crypto scams keep changing, but the defense stays the same: do not trust guarantees, never share your codes with anyone, and invest only through licensed platforms. Share this article with your family to help reduce the number of victims.
Open your Maxbit account today to trade Bitcoin and USDT on a platform regulated by the Thai SEC.
Risk warning: Cryptocurrencies and digital tokens are highly risky. You may lose your entire investment. Please study and understand the risks before deciding to invest.
