Recently, while reviewing some theft cases, I noticed a rather alarming trend: the number of novice users falling victim to mining scams is significantly increasing. I’ve summarized some common tactics and think it’s necessary to share them with everyone.

These scams mainly target Web3 newcomers, exploiting their lack of understanding of the crypto market and their desire for high returns. The scammers design a complete process, claiming that funds need to be stored in a mining pool for a period of time to generate profits. The key point is that, because abnormalities are not immediately visible in the short term, users are often tempted by interest rates and continue to invest more money. When they can no longer invest, the scammers start threatening that this will prevent the principal from being withdrawn, pressuring you to keep pouring in funds.

I’ve noticed a particularly sneaky tactic: scammers impersonate well-known exchanges on Telegram to create scam groups. Sometimes these groups can have thousands of members. Many newcomers think that a large number of members means legitimacy, but I’ve seen a group with over 50,000 members where fewer than 100 are actually online at any given time—obviously suspicious.

Even more malicious, scammers will provide detailed tutorials on how to check mining pools, download wallets, and transfer funds. If you follow their steps, you might indeed receive some rebates, which makes most people want to invest more to earn even more. Sometimes, the rebates are fake coins; when you try to trade them, you find they’re worthless. There are also mining scams that lure victims with phishing links to authorize malicious access, directly stealing your funds.

One of the most outrageous methods involves scammers leading you to a fake platform, manipulating data to create the illusion that you’re making money. Once you’re fooled, they invite you to join a mining pool activity, requiring you to deposit 5% or 8% of your total assets in USDT daily to activate the pool. To get dividends, you’re threatened with “if you don’t recharge, you can’t withdraw your principal,” forcing you to deposit more each day than the previous one.

Honestly, these mining scams don’t rely on advanced techniques, but they are very confusing for beginners. The seemingly legitimate procedures, detailed tutorials, and large group sizes all serve as tools for scammers.

My advice is: 1. Be cautious of promises that sound too good to be true—there’s no such thing as a free lunch. 2. Never click unknown links or authorize unknown transactions; this is essentially giving your money directly to scammers. 3. Maintain a skeptical mindset—don’t judge the authenticity based solely on group size, especially when it involves funds. When encountering mining scams, think about why scammers would go to such lengths; the answer is often hidden in the details.