Crypto Scam Checker

Crypto Scam Checker Review

It is no more news that the crypto industry is plagued by fraudulent schemes and projects. The average crypto user runs the risk of becoming a victim of coordinated attacks and scams as a result of the speculative and unregulated nature of the industry. Although some of these scams thrive because of the excessive greed of investors, the fair share of such illicit activities remains a recurring menace to the digital asset terrain due to the lack of industry standards and established regulatory frameworks.

And so, when it comes to the investigation and confirmation of the validity of crypto projects, it is up to crypto users to do all the heavy lifting. In most cases, this requires hours of research. Therefore, it is always a welcome development when we see solutions with a blueprint designed to ease the process involved in determining the validity of crypto projects, investments, or products. One of such solution is Crypto Scam Checker. As its name implies, the platform focuses on providing the tool for uncovering scam crypto websites or projects.

In this guide, we will explore the workings of Crypto Scam Checker, highlight its strengths and also review its drawbacks.

Overview Of Crypto Scam Checker

Crypto scam checker launched in January 2018 just after the crypto market reached the peak of the bull cycle fuelled by the ICO craze. Due to the frenzy associated with crypto investments in 2017, investors threw all caution to the wind and indiscriminately poured funds into projects promising to disrupt traditional systems with the help of crypto and blockchain technology.

As expected, scammers took advantage of this trend by setting up half-baked projects and conducting elaborate marketing schemes to attract investors. In most cases, these shady investments were Ponzi schemes or an attempt to pump and dump shit coins. Regardless of the strategy utilized, the goal remained the same: Defraud unsuspecting investors of their funds.

It was the influx of these illicit schemes that spurred Chris Beattie, the Founder and CEO of Fried.com, to launch Crypto Scam Checker in January 2018. This tool launched as one of the features of Fried.com, which focuses on disseminating information and solutions related to internet privacy, blockchain, cryptocurrency, and other emerging technologies.

Crypto Scam Checker is a database of crypto websites and projects and their validity status. Here, you can enter a website or project and check whether it is a legitimate scheme or not. The goal is to provide a system that analyzes and determines whether a crypto project is legit or a scam. The conclusion of the study is inputted in the database such that whenever a user enters any of the featured crypto websites or initiatives, the scam checker confirms the status of the site and shows if it is a scam or safe.

How Does Crypto Scam Checker Work?

As mentioned earlier, the operations of Crypto Scam Checker are straightforward. Just enter a crypto site or service in the search bar and the tool will automatically fetch information regarding its safety. To make this possible, Crypto Scam Checker keeps a database of crypto services and their validity status. At the time of writing this review, the database has 5,306 entries.

Hence, whenever a search query matches any of the entries on the database, the scam checker automatically reveals its validity status. Note that the searches generally yield one of the following three results:

• Scam: Obviously, this means that the site or project is unsafe for one reason or the other. Therefore, it is advisable to avoid such a platform.


• Safe: This proves the legitimacy of the platform in question. Whenever the search result comes with a “Safe” tag, it means that the website or service is legit.


• Unclear: Now and then, you may encounter websites tagged as “Unclear”. What this means is that the team behind Crypto Scam Checker is yet to acquire the appropriate information or data necessary to validate the operations of the crypto website or project.

How Does Crypto Scam Checker Verify Websites?

According to the Crypto Scam Checker website, the aim is to verify “every single crypto exchange, coin, ICO, mining resource, HYIP (High Yield Investment Program), cryptocurrency investment fund and all other crypto website/service out there right now.” To this end, the team behind this initiative has taken up the task of manually researching and verifying crypto-related websites. This deep analysis was done for each of the 5,306 websites curated on the platform’s database.

From the information made available, the team aggregated reviews, comments, and discussions about each of the websites on its database. This gives them a picture of the core workings of the project and whether there are reasons to believe that there are discrepancies in its operation. Below are some of the factors considered by the team:

Transparency: As part of the research methodology, Crypto Scam Checker analyzes the transparency of the website in question. Here, the platform checks to see if the website fully details its business model for all to see. It is easier to trust a transparent system than one utilizing a closely guided architecture that breeds all sorts of uncertainties.

The development or management team: In addition to reviewing the transparency of the project, Crypto Scam Checker also takes a look at the identity of the development team or the personalities managing the project. It is a good sign if the team’s identities are public and verifiable. For those development teams that opt for anonymity, there must be a legitimate reason for this. If not, there are reasons to doubt the legitimacy of the project.

The investment model or product design: Another important detail is the investment or product model being utilized. The question that Crypto Scam Checker asks here is: Do investors need to invest an amount before they can access the complete and clear information about the potential profits and losses that they may incur?

Reputation: Additionally, Crypto Scam Checker ensures that the project has not been the subject of scandals. If there are widespread online accusations and the project has not done enough to refute them, then it is plausible that the platform is indeed running a fraudulent scheme.

The quality of online reviews: In as much as Crypto Scam Checker relies heavily on online reviews, it goes a step further to ensure that there is an element of truth in such reviews.

Is this verification model flawless?

The team acknowledged that its conclusion may not be 100% accurate. And so, they provided a suggestion section where users can submit their reservations or other information that can help them reach an accurate assessment of a website.

How Does Crypto Scam Checker Update Its Database?

The platform claims that it updates its database to increase the number of websites verified by the scam checker. The website has a section where users can nominate the website they want the scam checker to review. It even goes as far as to feature the timestamp of the last time the database was updated.

Thanks to this feature, we could confirm that the database has remained static since January 2018. As such, no new website has been added to the database since the tool launched. To many, this would suggest that the website has been abandoned. We even tried to double-check by inputting the names of some of the popular crypto platforms launched after the said date, and to our surprise, none was listed on Crypto Scam Checker. 

What Are The Pros And Cons Of Crypto Scam Checker?

Having reviewed all the moving parts of this scam detector, we could collate the strengths and drawbacks of its features. Below are the pros and cons of Crypto Scam Checker.

Pros Of Crypto Scam Checker

It is a very resourceful tool for crypto users

Scams have become recurring issues in the crypto industry. And so, it is always a welcome development to have a platform go all out to provide a mechanism for evading the security threats associated with crypto investments or services. It helps that Crypto Scam Checker has taken up the analysis requirements of detecting frauds such that you can simply determine the validity of a project in a blink of an eye.

It is free to use

Another advantage is that the services of Crypto Scam Checker are free. There are no hidden fees nor do you need to register for a subscription plan.

There are no ads

Being that Crypto Scam Checker is free-to-use, it is understandable if the website heavily features advertisements. However, this was not the case. Instead, the site is clean and free of unsolicited ads.

Crypto Scam Checker is easy to use

It helps that the process involved in checking the validity of websites on Crypto Scam checker is straightforward. Just type the name of any website in the search bar and the tool will immediately fetch its status. The simplicity of this process shows that anyone, regardless of their technical prowess, can use this tool.

The verification process is thorough

Going by the verification process highlighted on the website, the team has ensured that the validity of featured websites depends on a well-thought-out process. This research model considers several factors to determine the safety status of a crypto website of service. Some of the factors considered are transparency, reputation, identity, and proactiveness of the team.

Cons Of Crypto Scam Checker

The website has not been updated for a while

As discussed in this review, it seems that the website has not undergone any sort of update in a while. Therefore, you may not find the information you are looking for, especially if you are hoping to fetch the status of a project launched anytime within the last 3 years.

There is no way of verifying the information on the website

The style and approach used by Crypto Scam Checker force users to trust the outcome of its research without providing a means of verifying or reviewing the process involved.