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Telegram is a popular platform for crypto users, providing a hub for discussions, community support, and updates from projects.
However, it has also become a breeding ground for scams targeting both new and experienced users. Staying safe requires awareness and precaution. Below, we outline common scams and how to protect yourself.
Fake Telegram channels
Scammers create fake groups that mimic official project channels, including Best Wallet.
These groups often copy the layout, pinned messages, and even admin profiles of the legitimate group. They might manually invite members from the original group to join their fake version.
The best way to prevent joining a fake Best Wallet Telegram channel is by only joining via official links, which can be found here.
Common tactics:
These fake channels will mimic official ones, full of fake "admins" who will try to gain access to your wallet or personal information. The number one rule is never to share your wallet's private keys or secret recovery phrase with anyone. No one from a legitimate project will ever ask for it.
There will also be lots of fake discounted token sales or exclusive pre-launch opportunities. Be especially aware of fake Telegram channels for Upcoming Token projects, especially around claim periods. These fake channels will share various phishing links and support links that are designed to drain your wallet's crypto. Only join via the official links on their verified X accounts.
Posting fake announcements about flash sales or giveaways. If something sounds too good to be true, it probably is. Double-check any giveaway on other official channels — for example, if you see a Telegram channel for Best Wallet advertising a crypto giveaway, check our official X account and other platforms to verify the information.
How to stay safe:
Adjust your settings: Restrict group invites to “My Contacts” only to prevent random invites from scammers. Don't engage with people privately messaging claiming to be from a legitimate project.
Verify links: Only join groups through links from the official website or trusted sources.
Cross-check: Always compare announcements in multiple official channels.
Copycat Telegram admins
This scam involves impersonators pretending to be admins or support staff from legitimate groups. They typically directly message users who have asked for help or posted questions in a public group, offering fake assistance to steal sensitive information.
Common tactics:
Using usernames similar to legitimate admins, such as replacing “O” with “0”, or using the same profile picture.
Asking for private keys, seed phrases, or login details under the guise of resolving an issue.
How to stay safe:
Check user roles: Real admins have a verified “Admin” or “Support Team” tag next to their usernames in official groups.
Search usernames: Copy the username of the person contacting you and search for it in the group. If they are not a listed admin, they are fake.
Avoid direct messages: Legitimate admins will never DM you first or ask for personal information.
Impersonating support channels
A growing scam involves fraudsters pretending to be from a project's support or social team. They prey on users seeking help in the project's official Telegram channel, sending direct messages asking for sensitive information or phishing links.
Common tactics:
Responding to your queries faster than actual moderators, in the hope that users in need of support won't double-check their username or role in the channel.
Claiming to need your private key, secret recovery phrase, or payment to resolve an issue.
How to stay safe:
Golden rule: Never share your private key or secret recovery phrase. No legitimate support team will ever ask for it.
Report impersonators: If someone pretends to be from Best Wallet, report them immediately. No one from the Best Wallet team will directly message you offering support.
Verify roles: Best Wallet admins always have verified roles next to their usernames in official groups.
"Investment" crypto channels
Investment channels, often promoting pump-and-dump schemes, are another common Telegram scam. These channels are designed to promise users incredible returns with promises of insider trading tips or early-stage gems.
These groups aim to manipulate cryptocurrency prices for the admins’ benefit and often leave users out of pocket.
Common tactics:
Promoting “VIP memberships” for exclusive access to supposed market-moving insights, which involve some sort of crypto payment.
Pumping a coin’s price, then selling their holdings at the top while leaving others with losses.
How to stay safe:
Avoid “signal groups”: Genuine projects do not engage in pump-and-dump schemes, and as always, if something seems too good to be true ("x100 your crypto holdings), then it normally is a scam.
Evaluate track records: Look for consistent, reliable information, not exaggerated claims of quick profits.
General tips to avoid Telegram scams
Whilst being aware of the different types of Telegram scams, there are some general rules you can follow to stay safe:
Enable privacy settings: Restrict who can contact you, view your profile, or invite you to groups.
Double-check URLs: Only use links from official websites or trusted announcements.
Stay informed: Regularly update yourself on common scams and how to identify them.
Never share sensitive information: Private keys, seed phrases, or passwords should remain confidential.
Report scams: Help protect the community by reporting suspicious accounts and groups.
If you're unsure about a Best Wallet or Upcoming Tokens Telegram channel
Telegram can be a valuable tool for engaging with the crypto community, but vigilance is key to avoiding scams.
By taking precautions and staying alert, you can enjoy the platform safely while protecting your assets and information.
However, if you are unsure about a channel or admin — whether it is a legitimate Best Wallet or Upcoming Token project — please contact the Best Wallet support team in-app by heading to Settings → Get Help. Read our guide on how to get in-app support.
You can also find all of Best Wallet's official links here.
Important reminder: Best Wallet will never request your wallet’s private key or secret recovery phrase. Keep this information strictly private and do not share it with anyone.