Security and Scams
Red flags, verification and protecting your keys, from people who watched the scam playbook get written.
Security and Scams4 min readCrypto scam tax write off: what your accountant needs
A crypto scam loss may be deductible as a theft loss, depending on when it happened, whether you expected a return and what you can document. Here are the six records to bring your accountant.
Chad Wittfeldt 
Security and Scams6 min readCrypto giveaway scam: the deepfake video isn't real
A deepfake crypto scam is an AI clone of a public figure announcing a crypto giveaway, with a link that drains your wallet or asks you to send crypto to be doubled. Don't test the video. Test the offer.
Chad Wittfeldt 
Security and Scams6 min readWhatsApp Crypto Scam: Is That Trading Group Real?
A WhatsApp crypto scam is any offer over WhatsApp or Telegram to trade crypto for you if you send funds first. No dashboard, just an account manager and fake screenshots. Here's how it runs and why those two apps.
Chad Wittfeldt 
Security and Scams7 min readAsked to pay tax to withdraw your crypto? It's a fake platform.
A crypto investment scam is a platform that shows your balance growing daily, pays the first small withdrawal, then invents a reason you can't have the rest. I've watched the same one get rebuilt since USI Tech in 2017.
Chad Wittfeldt 
Security and Scams6 min readTinder crypto scam: how the crypto romance scam plays out
A crypto romance scam is a long con: months of a relationship, then a crypto opportunity through a relative, a fake platform, and a withdrawal that needs taxes first. The longest I've seen ran nine months and cost about $322,000.
Chad Wittfeldt 
Security and Scams7 min readWhy do smart people fall for crypto scams?
People get scammed in crypto because they want a lot of money quickly without doing the work. Here's how every crypto scam works, why smart people fall for it, and the three-question audit that stops the second one.
Chad Wittfeldt 
Security and Scams6 min readCrypto scam reporting: where to report it and what happens next
Report a crypto scam in this order: the exchange you sent from, the FBI at ic3.gov, the FTC, your local police. What each report gets you, what it doesn't, and the one step almost everyone skips.
Chad Wittfeldt 
Security and Scams8 min readCrypto recovery scam: are there any legitimate crypto recovery services?
Almost none of the companies advertising crypto recovery to individuals are legitimate, and the FBI counted $9.9 million lost to fake recovery firms in 2024. Here's the bad news, then the only good news there is.
Chad Wittfeldt 
Security and Scams8 min readGot a Coinbase scam text with a verification code? Don't call.
A Coinbase scam text is a mass-sent message with a phone number to call. I called one and recorded the call. Here's what the texts say, how the call runs, and the one-line answer.
Chad Wittfeldt 
Security and Scams7 min readCrypto Scam Red Flags: 9 Warning Signs to Walk Away
Most crypto scams run the same playbook. I have tracked it since BitConnect, through today's fake trading groups. These are the red flags, and how to verify anyone before you trust them.
Chad Wittfeldt