CoinMarketCap has made an urgent announcement to its global community. The company advised users to ignore direct messages claiming to be part of the team. On X, you will see a message that CoinMarketCap will never request payment by sending you a message first. The platform stressed that all messages of this type are scams and urged users to be wary of all messages before acting.
🚨 Beware of scammers!
🔹 CoinMarketCap will never send you a DM first. If you receive a message claiming to be from CMC requesting funds, it is a scam.
Please be sure to check before transferring funds.
Stay #SAFU
— CoinMarketCap (@CoinMarketCap) October 19, 2025
The warning signals come as crypto fraud is on the rise across the world. Scam pages claiming to be crypto exchanges such as CoinMarketCap, Binance, and Coinbase are rampant on social media. Scammers can use fake DMs to trick victims into handing over money or even personal keys. The platform’s reminder feature protects the millions of traders who use CoinMarketCap to obtain market information and track their cryptocurrencies.
The spread of virtual currency fraud
This wariness is indicative of a serious problem in the crypto industry. According to a report from a global regulatory agency, crypto fraud has increased sharply in recent years. Previously, the US Federal Trade Commission announced that losses due to cryptocurrency fraud increased to more than $1 billion in 2021. Since then, fraud has continued to increase as adoption increases. Many victims fall victim to phishing websites, investment offers, or impersonation on social media.
Security experts say the latest generation of scams tends to use AI-generated messages. Fraudsters have emerged to develop persuasive messages and counterfeit security seals. Some go as far as deepfaking videos of influencers and business owners to make them look authentic. This complicates a user’s ability to distinguish between real and fake messages.
The post, shared by CoinMarketCap with the hashtag #SAFU, reminds users to remain vigilant and practice safe cryptocurrency habits. SAFU is an abbreviation of the term, which stands for Safe Assets Fund for Users, and is a term that has been successful in raising safety awareness in the cryptocurrency industry. DM is the typical beginning of a cryptocurrency scam. Scammers present themselves as reputable companies, offering advice and special investment opportunities. Once the victim replies, they will be asked to send cryptocurrency, connect a wallet, or provide security information. This tactic results in your money being stolen and your account being hacked.
best practices
To avoid cryptocurrency scams, experts suggest several solutions. Never accept an account without checking and verifying the username, links, and followers. CoinMarketCap and other large cryptocurrency companies have verified communication channels listed on their websites. Do not send money to individuals claiming to represent your company without verification.
Users must enable two-factor authentication and use a hardware wallet for long-term data storage. You can minimize your risk by regularly checking official announcements and learning about new scam techniques. Investor.gov urges users to be wary of investments that claim guaranteed returns or promise to be risk-free.
Community members also contribute to raising awareness. CoinMarketCap’s post received numerous reactions from many users on X, including recommendations and jokes. While some people warned and cautioned them not to reply to suspicious DMs, others shared stories of their near-escapades. These reactions demonstrate that public vigilance may still be important, even though the market is changing fairly rapidly.
Regulation and industry initiatives
Regulators are beginning to fight digital asset fraud. Under the Digital Financial Assets Act, the California Department of Financial Protection and Innovation has launched a licensing regime for virtual currency companies. The goal of this initiative is to minimize unfair and fraudulent practices in the marketplace.
An increasing number of cryptocurrency companies around the world are building their own verification systems. Most of them attach security warnings to their official pages and use automatic detection tools to mark suspicious accounts. Despite all this, the best protection lies with the user. The post written by CoinMarketCap supports the idea that the modern financial world needs education and care in terms of decentralization.
Future outlook
The date of the alert issued by CoinMarketCap indicates a recent increase in fraud reports. As institutions continue to get involved and retailers run with it, scammers are focusing on participants old and new. Fake DMs and phishing attacks exploit the desire to know more and the need to take action.
As cryptocurrency approaches become mainstream in 2025, the lines between what is considered legitimate communication and what is considered fraud will become even less clear. CoinMarketCap’s direct message to users serves as a reminder that decentralization comes with opportunity and responsibility. The company remains focused on safety, transparency, and personal vigilance as the basis for participating in cryptocurrencies.
Discover more from Earlybirds Invest
Subscribe to get the latest posts sent to your email.
