Key Takeaways
The holidays, such as Black Friday or Christmas, are a prime time for scammers. More people are shopping, there are more “limited-time” offers, and people are generally distracted as they search for the best deals while remaining too distracted to stay safe. Crypto’s more anonymous nature adds fuel to the scammer’s fire, as they can move funds fast, internationally, and with minimal intermediary involvement.
Here are some common holiday-season crypto scams, alongside ways to avoid them.
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How it works: Scammers run a livestream (or ad) with a deepfake of a famous CEO/influencer alongside a QR code or wallet address. They promise to “double” your crypto if you send funds first. People tend to fall for it because the video looks real, and there might be a countdown to create fake urgency.

How to avoid it:
How it works: Scammers will launch seasonal tokens with Christmas themes, pump them with hype, then dump them. Some will even rename their old scam tokens to make them look “new.”

Sometimes scammers even rename their tokens based on Reddit threads full of interested investors.
How to avoid it:
How it works: If you post a problem you’re having on social media, like losing access to your exchange wallet, a “support agent” might DM you and ask for your recovery phrase to “verify” your ownership.
No company will ever need your seed phrase at any time. Period.
How to avoid it:
How it works: Scammers might send convincing emails (or even physical letters) warning you about “firmware issues” or the need for “wallet verification.” These might include links or QR codes for you to scan, which lead to a fake site that asks for your seed phrase.

How to avoid it:
How it works: You connect your wallet and “claim” something. The site tricks you into approving a malicious transaction, and a bot drains your wallet almost immediately.
How to avoid it:
How it works: You join a Telegram or Discord channel, and an automated “bot” or “mod” demands you verify your account. Clicking the button runs a malicious script or asks you to verify a wallet transaction.

How to avoid it:
How it works: You Google search “MetaMask download” or the login for a specific exchange, click on a sponsored link, and land on a clone site that paid Google to show up high in the results. If you connect your wallet, all might be lost.
How to avoid it:
How it works: A scammer hijacks your phone number, resets your exchange passwords, or gains access to SMS login verification codes. From there, they log into your account and steal your funds.
How to avoid it:
How it works: You get an unassuming “oops! Wrong number!” text message. If you reply, they suddenly become quite interested, try to become your friend or partner, and will eventually recommend a “surefire” crypto investment platform. When you invest, you’ll realize too late that withdrawals are suddenly blocked.

How to avoid it:
How it works: If you post on Reddit about losing your funds, a “recovery expert” might offer to help, for a fee, of course. Only, they’ll take that fee and disappear.
How to avoid it:
In general, you can avoid holiday crypto scams by engaging in a few “boring” habits and refusing to break them under pressure, like when a fake timer comes into play:
If you ever suspect you fell for a malicious transaction approval or accidentally exposed your wallet information, immediately move your funds to a new wallet. Otherwise, you might lose them forever.
If it pressures you to act fast (“limited time,” “verify now,” “only today”), treat it as a scam until proven otherwise. No. Real support never needs your seed phrase or private keys. Sharing them hands over your funds. Use a separate burner wallet, verify the official link from the project’s main site, and read transactions before signing. Move remaining assets to a fresh wallet, revoke token approvals, reset account security, and assume follow-up DMs are scams.