HomeScamsDiscord scamsHow to Avoid Cryptocurrency Scams: A Guide for Discord Users

    How to Avoid Cryptocurrency Scams: A Guide for Discord Users

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    Discord is a chat app originally designed for gamers, but it’s become popular with people. That’s because it has a handy system of “servers” (communities), channels, and private messages. And on those servers, cryptocurrency fans are discussing the latest news about altcoins, investors are sharing predictions, and scammers are scheming how to cash in on both. In this article, we unpack the latest Discord schemes and explain how not to fall for them.

    Be cautious of exchanges that offer gifts

    This scam is the latest in many attempts to take advantage of cryptocurrency investors. But it’s notable for a few reasons. First, it’s using Discord, becoming an increasingly popular platform for crypto discussion and trading groups. And second, it’s preying on the fact that many people are feeling FOMO (fear of missing out) as the prices of Bitcoin and other cryptocurrencies continue to rise.

    It starts with a message from a member of a group or server you’re in, asking if you want to join their “exclusive” cryptocurrency trading group. The group claims to have an “insider” at a major exchange like Binance who shares tips about which coins are about to be listed.

    The idea is that by getting in early on these trades, you can make huge profits. But of course, there’s no such thing as a free lunch. The scammers are simply trying to get your hard-earned cash and cryptocurrency. And they may even go so far as to promise to double your investment if you send them your coins first.

    Hackers posing as other Discord members

    Another variant of this scam is when someone pretends to be another member of a Discord group or server, and tries to get you to send them cryptocurrency. They do this by DM (private message)ing you, pretending they’re someone you know and trust.

    To pull this off, the scammer will often use the information they’ve gleaned from your public profile, such as your name, location, or the groups you’re in. They may also copy someone you know’s an avatar (profile picture). So it’s essential to be vigilant about who you’re talking to on Discord, even if they seem like someone you know.

    Malicious Discord DMs

    The scammer will usually contact you directly via a Discord DM (private message), rather than on a public channel. This is so they can build a rapport with you and gain your trust. They may even pretend to be someone you know, using an old photo or profile information lifted from another social media platform.

    Once they’ve gained your trust, the scammer will ask for money or cryptocurrency. They may even promise to double your investment if you send them some coins first. Of course, there’s no such thing as a free lunch. The scammers are simply trying to get your hard-earned cash and cryptocurrency.

    Discord server hacks

    Another way scammers use Discord to defraud people is by hacking into popular servers and changing the server’s description or welcome message. They will then add their contact information, pretending to be the server owner, and use this to try and extract money from anyone who contacts them.

    If you get approached by someone claiming to be the owner of a server you’re in, be very wary. Always check that the person is who they say they are by looking for signs that the account has been hacked, such as a recent change in the profile picture, username, or email address.

    Tips to Avoid Cryptocurrency Scams on Discord

    Turn on 2-Factor Authentication (2FA)

    The first and most important step you can take to protect your account is to enable two-factor authentication (also known as “two-step verification” or “multi-factor authentication”). This adds an extra layer of security by requiring you to enter a code from your phone in addition to your password when logging in.

    Turn off your Discord DMs

    If you’re not planning on using Discord’s direct messaging feature, disabling it’s a good idea. That way, people who don’t know you won’t be able to send you messages (and potentially scam you). To do this, go to User Settings > Privacy & Safety and toggle the “Enable DMs from Server Members” setting to “Off.”

    This may seem like common sense, but it’s worth repeating. If someone sends you a link, even if they seem trustworthy, don’t click on it unless you are sure it’s safe. And be especially wary of links that promise free cryptocurrency or other rewards.

    Be careful about what information you share

    In general, it’s best not to share too much personal information on any online platform – including Discord. Be especially cautious about sharing your email address or phone number. And never give out your private keys or passwords to anyone.


    Following the tips in this article, you can help protect yourself from being scammed on Discord. Remember to be vigilant about who you’re talking to and what information you share. And if something doesn’t seem right, trust your gut and don’t hesitate to report it to a moderator or administrator.

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