Avoiding Crypto Scams: A Simple Guide

This guide is part of our ongoing mission to keep the Ronin community safe. For any doubts or further tips, reach out to us on Discord or Ronin Shield on X.

Tokens, dApps, and airdrops are multiplying on Ronin—also increasing the potential for scams. Nearly every day, there are reports across the industry of users falling for spammy links or fake airdrops, only to later discover they authorized a transaction that wiped out their wallet.

Trust is earned, and security matters, so it's important to stay alert. Here’s a straightforward guide to help you recognize and avoid these scams.

1. Phishing Scams: Don’t Take the Bait

We're sure you've received a slick email, DM, or an ad from a known dApp, or even an official Ronin update. Clicking the link might take you to a malicious website asking you to connect your wallet or approve a transaction—and if you do, your wallet could be drained.

What You Can Do:

• Double-Check URLs & dApps: Always verify links and sources. If it looks off, it probably is. Trusted Domain Levels (TDL) can be a helpful tool to verify official dApps.
• Community Verification: Lean on our community—if something feels fishy, reach out on Discord or tag us on socials. Our Ronin family has your back.

Trusted Domain Levels (TDL) is a trust system on Ronin with three tiers based on developer reputation.

2. Fake Accounts & Impersonation: Know Who’s Who

The Scam:

Scammers may impersonate well-known accounts, launch tokens, or create counterfeit websites mimicking trusted platforms. They often share links for fake airdrops, allow lists, or giveaways. If you're not careful, you might assume they're legitimate and connect your wallet.

What You Can Do:

• Report Fake Accounts: Reach out to verified Ronin social channels for support or make a report on social platforms.
• Refresh Ronin Wallet Approvals: If you signed a malicious smart contract or if the signed smart contract was exploited, you can revoke your approvals and permissions here.

Ronin Revoke is a tool built for revoking approvals previously granted to a Ronin dApp's smart contract which handles your digital assets.

3. Rug Pulls: When Projects Disappear in a Puff of Smoke

This chart belongs to a token that rug pulled. In hindsight, it’s easy to spot rug pulls. In real-time, you’ll need to look for red flags and mitigate your personal risk.

The Scam:

Pump-and-dump operations like “miracle” yield farms or memecoins that promise exponential returns with little to no risk. They end up vanishing overnight with all the funds—leaving investors stranded in the dust.

What You Can Do:

• Red Flags: Be cautious of claims promising unrealistic returns, excessive hype, or urgent calls to invest. Rely on your instincts and avoid giving in to FOMO.
• DYOR: Asses the projects’ credibility by looking for transparent roadmaps, audited smart contracts, and active community engagement.

Check Out This Scam Simulation👇

The Final Word: Stay Vigilant RONers

As exhilarating Web3 is, it is also unpredictable. Scammers will always try to exploit gaps in any defense, but with knowledge and community strength, we can stay one step ahead.

Best Practices to Stay Secure

1. Never Share Your Private Keys: Don't share them with anyone, private keys are private for a reason.
2. Think Before Clicking: Double-check URLs from unfamiliar sources (ads, DMs, social posts) to avoid phishing.
3. Use Trusted dApps: Only connect with verified tools and platforms from credible developers.
4. Use a Hardware Wallet: add another layer of protection for your assets.
5. Use Two-Factor Authentication (2FA): Double up on security—like adding an extra layer to your armor.
6. Keep Software Updated: Always use the latest, verified versions of wallets and dApps.
7. Engage With the Community: Whether you’re a seasoned veteran or a new recruit, your fellow RONers can help spot potential scams.