Crypto Gift Card Scams: Red Flags & How to Protect Your Wallet

Gift card scams are becoming a go-to move for crypto fraudsters. Here’s what you need to know:

How They Work: Scammers create fake social media profiles promising guaranteed returns or crypto “giveaways.” They ask you to buy gift cards (Amazon, iTunes, etc.), claim they’ll use the codes to buy crypto for you, grab the codes, then ghost you. Money gone, wallet empty.

The Red Flags (Watch Out):

• Unsolicited offers promising huge returns with “zero risk” (if it sounds too good, it is)
• Anyone asking for payment in gift cards (legit traders don’t do this)
• Fake urgency—“Act now or miss out”
• Bad grammar/spelling in messages (often a tell)
• Requests for personal data (SSN, bank details)
• Multiple complicated steps or asking for multiple cards at different amounts
• Sketchy wallet addresses they want you to send crypto to

If You Got Scammed:

1. Stop talking to them immediately (all channels—email, phone, socials)
2. Report to the FTC, IC3, or local police
3. Alert credit agencies if they got your SSN or address
4. Contact your exchange/wallet provider to freeze funds if possible
5. Set up fraud alerts on your accounts

How to Stay Safe:

• Never send gift cards or crypto to strangers
• Verify the person/company before ANY transaction (check regulatory bodies)
• Don’t share personal info unless 100% sure it’s legit
• Research the investment opportunity thoroughly
• If something feels off, it probably is

Bottom line: Gift cards = instant cash with no reversal. Scammers love them. You won’t.