7 Warning Signs of a Crypto Scam (and How to Protect Yourself)

Cryptocurrency scams cost Americans over $5.6 billion in 2023 alone, according to the FBI. Seniors and retirees are disproportionately targeted because scammers know they may have savings and may be less familiar with digital platforms. Here are the seven warning signs we teach every client to recognize.

The 7 Red Flags

1. Guaranteed returns — no legitimate investment guarantees profits, especially in crypto.
2. Pressure to act immediately — scammers create false urgency to prevent you from thinking.
3. Unsolicited contact — whether by phone, email, social media, or text message.
4. Requests to move money to a 'special' platform you have never heard of.
5. Romance or friendship schemes that eventually pivot to investment advice.
6. Difficulty withdrawing funds — the classic sign of a Ponzi or exit scam.
7. No verifiable regulatory registration (FinCEN MSB, state licenses, SOC 2 certification).

How Grey Crest Protects Clients

Grey Crest Capital is a FinCEN-registered Money Services Business with SOC 2 Type II certification. We never cold-call, never guarantee returns, and never pressure clients into decisions. Every interaction is documented, every withdrawal is processed promptly, and every question gets a straight answer.

Protecting Your Loved Ones

If you have aging parents or relatives who may be targeted, share this article with them. Encourage them to call you — or us — before making any crypto-related financial decision. A five-minute conversation can prevent a life-changing loss.

Legitimate platforms welcome your questions. Scammers want you to stop asking and start sending.