Crypto exchange Echobit has warned users about an increase in scams involving people pretending to represent the company, urging customers to verify all official communication before taking any action.
In a security notice, Echobit said fraudsters have been using its name, logo and branding to create fake websites, mobile apps, Telegram channels and social media accounts. The scammers reportedly contact users under the guise of offering API services, deposit assistance, trading support or exclusive internal services, with the aim of convincing victims to transfer funds or reveal account information.
🚨 OFFICIAL SECURITY ALERT: BEWARE OF SCAMS – ALWAYS USE OUR VERIFIED CHANNELS! 🚨
Recently, Echobit has detected an increase in fraudulent activities involving impersonation of Echobit personnel. These bad actors misuse Echobit’s name, logo, or create fake websites, apps,… pic.twitter.com/RXVYPEVYFi
— Echobit Exchange (@EchobitExchange) June 29, 2026
The exchange stressed that its staff will never send unsolicited private messages or ask users for passwords, private keys, verification codes or cryptocurrency transfers. Echobit also urged customers to confirm any account claiming to represent the company through its official verification channel before responding.
Crypto scams keep changing with the market
Impersonation scams remain one of the most common threats facing crypto users because they rely on social engineering rather than breaking into blockchain networks.
Over the past few years, criminals have repeatedly created fake exchange websites, customer support accounts and investment groups to steal digital assets. During periods of high market activity, these scams often increase as new investors enter the market. Security experts continue to advise users to verify official websites, enable two-factor authentication, avoid sharing private keys and carefully check wallet addresses before sending funds. Because blockchain transactions cannot usually be reversed, prevention remains the strongest defence.
The rise in crypto scams has pushed exchanges to strengthen account security, improve identity verification, and issue more frequent warnings. Bitget earlier warned that fraud targeting digital asset investors is becoming more sophisticated, with criminals increasingly using artificial intelligence, social engineering, and phishing attacks to steal funds.
Exchange promises legal action against fraudsters
The exchange added that it will take legal action against individuals or organisations found impersonating the platform after verification. It also encouraged users to report suspicious accounts, websites or messages immediately.
While blockchain technology offers transparent transactions, attackers increasingly target users directly through fake support channels and social engineering rather than attempting to compromise the underlying networks, making user awareness an important part of protecting digital assets.
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