Cryptocurrency is gaining popularity for everything from investing to online purchases—but with its rise comes risk. Scammers are taking advantage of how fast and untraceable crypto payments can be, making it harder for victims to recover lost funds.

At Rally Credit Union, we want to help protect your financial future. Here’s what you should know about crypto payment scams, and how to avoid them.

Why Scammers Love Crypto

Unlike credit cards or traditional bank transfers, cryptocurrency payments can’t be reversed. Once a scammer has your crypto, it’s gone for good. That’s why fraudsters often pressure people into paying with Bitcoin or other digital currencies—especially when pretending to be from a government agency, tech support, or even a love interest.

Common Crypto Payment Scams

• Fake Investments: You’re promised high returns if you send crypto now—usually with zero real proof.
• Romance Scams: Someone you met online builds trust, then claims they need help with a crypto-related emergency or opportunity.
• Imposter Scams: A caller pretends to be from the IRS, law enforcement, or a well-known company and demands payment in crypto to “avoid trouble.”

How to Protect Yourself

Think twice before sending any crypto.
If someone you don’t know personally asks for a crypto payment, it’s likely a scam. Real businesses or government agencies won’t ask you to pay this way.

Slow down and verify.
Scammers try to create urgency to pressure you into acting quickly. Take a moment to step back. Call the company directly using a number you trust—not the one they give you.

Keep your information safe.
Don’t share private keys, wallet access, or account logins. And never post details about your crypto holdings publicly on social media.

Use strong passwords and two-factor authentication.
Extra layers of protection can go a long way in keeping your digital accounts secure.

Some Scammers Are Victims Too

In some heartbreaking cases, the “scammer” may be someone forced into it. Organized crime rings sometimes recruit people with false job offers, then trap them into helping run scams. Staying informed helps us protect ourselves—and show compassion where it’s due.

Red Flags to Watch Out For

• Someone insists you pay with crypto
• They promise fast, guaranteed profits
• They refuse to video chat or meet in person
• They avoid details and use poor grammar
• You feel rushed, pressured, or confused

Crypto can be part of your financial toolkit—but only when used safely. If something feels off, trust your gut. Rally is here to help you stay safe and informed.

Still have questions? Reach out to our Member Service team—we’ve got your back!