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We’ve put together an in-depth video breaking down this exact scam so you can hear it, see how it works, and know how to respond.
If you prefer learning in video format, head over to our Fraud Fighters page. It’s packed with real-world scam examples and expert tips to help you stay one step ahead of the bad guys.
“Dear Crypto User…”
It starts with a robocall that sounds like a security alert:
“Dear crypto user, a threatening alert about your unsuccessful login attempts has been sent to us from Hangzhou, China. Press 1 to confirm it’s you.”
The caller makes it sound urgent. Someone’s trying to hack your account—at least that’s what they want you to believe.
In the heat of the moment, you might think: “I better find out what this is all about.”
But here’s the truth: This is a scam.
How Crypto Account Scams Work
These scams use the same playbook as phishing emails and fake bank alerts. The ingredients:
Urgent language — “failed login attempts” and “press 1 now” force you to react.
Fear tactics — They count on your panic to override your judgment.
The trap — Pressing a number or following instructions gives scammers the opening they need.
Once you take the bait, scammers may:
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Try to harvest your crypto exchange login details.
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Trick you into installing remote-access software.
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Push you toward costly “crypto recovery services” — scams on top of scams.
Why This Scam Works
Even people who don’t own crypto can feel rattled by these calls. The psychology is simple:
Authority — It sounds like a serious security notice.
Fear of loss — Nobody wants their money stolen.
Confusion — Crypto is still unfamiliar to many, making it easier for scammers to bluff.
The reality? Most victims didn’t even have a crypto account. The call was just fishing for the few who do.
How to Stay Safe From Scams
If you receive a call claiming something is wrong with your crypto account, the best thing to do is hang up immediately.
If you actually own a crypto account, log in independently and check for suspicious activity.
Never click a link or press a number from an unsolicited call or text.
Remember: legitimate companies will never demand urgent action over the phone.
Don’t Let Fear Do the Scammer’s Work
When you hear the words “security alert” or “unauthorized login,” it’s natural to panic. But that’s exactly what scammers are counting on.
Instead of reacting, slow down. Ask yourself: “Wait… do I even have a crypto account?”
The moment you take a breath, you take back control.
How to Stay Safe From Crypto Scams
Don’t press. Don’t click. Don’t call back. Never respond directly to a suspicious alert.
Verify independently. Go directly to your crypto exchange or wallet app to confirm account status.
Enable two-factor authentication. This makes it much harder for attackers to access your accounts.
Report and block. Forward scam texts to 7726 (SPAM) and hang up on suspicious calls.
Protect yourself. Nomorobo blocks scam calls and texts before they ever reach your phone.
Block the Scam Before It Starts
Nomorobo intercepts millions of scam calls and texts every day, including crypto account alert scams like this one.
Sign up now to protect your accounts, your identity, and your peace of mind.
