Is Web3 a concept for a more free internet or a financial trap? Thanks to the efforts of scammers, more and more users associate this term not with the advancement of DeFi technologies, but with fraud. The internet is flooded with fake Web3 platforms and Telegram bots promising super-profits. Users stake coins, trade digital assets, but in the end, they always lose money. Honest Web3 projects suffer no less due to reputational damage.

How exactly scammers are using the trend of the decentralized internet and how to avoid falling into their nets — keep reading.

Web3 — What Is It Really?

It is a new evolutionary stage of the internet's development. If in the Web2 era data and services were under the control of corporations, now the management of assets and access is gradually shifting into the hands of users. Prominent examples of the Web2 internet are YouTube and Facebook, which collect user data and manage content.

In Web3, these are dApps — decentralized applications that store and process data on the blockchain via smart contracts. There is no single "owner" of the infrastructure here. Identity and assets are stored in users' personal digital wallets — like Coinbase Wallet, MetaMask, and similar ones. These wallets are also used for authorization instead of a login and password.

Any crypto enthusiast can audit a smart contract thanks to its open-source code, as well as track a transaction through a blockchain explorer. This advantage of Web3 is one of its key features. Anyone can examine a project for errors, financial traps, and hidden functions.

Here's what Binance outlines on its official website about Web3 and its practical application for traders.

Web3 in the Hands of Scammers: How Is It Used for Deception?

Scammers thrive on their ability to adapt to the current agenda. They implemented Ponzi schemes and hacked Zoom accounts during the COVID-19 pandemic. They promoted fake "green" investing. The popularization of AI ushered in an era of thousands of sham projects with "smart" bots that promised super-profits. But in reality, they emptied investors' wallets.

The fate of becoming a tool for fraudsters has not bypassed Web3 either. Scammers create fake platforms for "investing and earning in the tokenized economy." However, with no hint of decentralization or connection to a blockchain, the participants' funds fall under the control of the fraudsters.

Often, these are just ordinary Web2 websites of fake brokers, exchanges, or HYIPs, or Telegram bots. The "Web3" label is used as bait for those who are not well-versed in the topic.

The outward appearance of a fraudulent resource is designed to inspire trust. It has a friendly interface, a convenient personal account, and an online support chat. The user is shown growing profits on their "balance." In reality, this is nothing more than an image — the investor's money has long been transferred to the organizers' accounts.

Withdrawing funds from these sham Web3 resources is impossible. Scammers actively prevent withdrawals by:

• demanding to enter a tax/collection code;
• asking for a payment to pass verification;
• issuing an invoice for insurance, taxes, and other fees;
• requiring to connect a beneficiary, who must also deposit a certain amount into a "joint account";
• simply blocking the account without explanation.

Scammers deceive people by publishing fake licenses from authoritative financial regulators. Alternatively, they have offshore registration, which essentially absolves them of any responsibility to investors.

Starting in 2025, clone scam brokers have shown a particular fondness for luring clients with promises of the most modern Web3 trading platform. For example, there is a series of clones whose main pages are shown in the screenshots. They send the terminal download link to users via private messages. Of course, their trading terminal has no real connection to the markets, and the only thing Web 3.0 about it is the name.

Telegram Bots Under the Banner of Web3

Due to the increased interest of online investors in the mysterious Web3, scammers have grown fond of Telegram bots: the monetary and labor costs for their creation are minimal, while the payoff is maximum. Deceived investors mention the following resources:

• t.me/TradeZephyrBot
• t.me/CoinsFlickerBot
• t.me/MarketGlintBot
• t.me/TokenRiseXBot

How to recognize scammers? They offer "investments in digital assets on Web3," "staking," "easy money," bonuses, and use other emotional marketing slogans. They promise instant daily payouts, pressure greed and a sense of exclusivity, and urge you to get in on the ground floor.

The interface and tricks of such platforms are similar:

• They display an animated picture instead of real charts and "draw" a growing balance.
• They post fake, laudatory reviews in the chat.
• They place fake buttons for staking, confirmation, and withdrawal that do not work.
• They impose hidden fees for verification, insurance, taxes, or account unblocking. They connect fake brokers — a third party to receive payment. Deceived investors mention false intermediaries like Ecoriogo, Aventushg, Nisiomonk, and others in their reviews.

In fact, scammers clone and distribute templates of fraudulent bots, changing only the names and logos.

Scammers are also given away by the payment methods they use, which do not allow for transaction tracing. For example:

• Transfers to plastic cards of mules ("drops") — individuals whose accounts are used for laundering funds.
• Exchangers where the investor independently buys tokens with fiat money and transfers them to the scammer's wallet.
• Settlements in digital currencies.

Such tricks are a safety net for the fraudsters. If a company is not registered anywhere, operates without licenses, and does not publish agreements or transparent payment terms, disputing the transfer becomes much more difficult.

A requirement to complete registration is also a telltale sign of a fake Web3 resource. This is typical for Web2 platforms but contradicts the concept of decentralization, where one only needs to connect their wallet. The result is that the participant's wallet and the bot do not interact in any way, and the movement of funds on the investor's balance is not reflected in the blockchain explorer. Essentially, the scammers are putting on a show with the goal to fleece the victim completely.

Reviews from Defrauded Investors About Web3 Scams

Scammers often use the same techniques as fake brokers — either individually or in combination:

Common Scam Techniques:

• Blocking Independent Cash-Out: They reject a participant's independent cash-out attempt by freezing the withdrawn amount and insisting on administrator involvement. The administrator then informs the user of the need to pay additional fees: taxes (up to 30% of the total amount), network fees, insurance, and other hidden commissions.
• The "Trusted Contact" (Beneficiary) Scam: They demand the involvement of a trusted contact (beneficiary), citing problems with transferring money to the investor's account. According to the scheme, the user's close relative or friend must "merge accounts" with the investor and pay a certain sum as a deposit. The scammers promise to return it along with the user's funds, but after the transfer, they block access to the bot and stop responding to messages.
• Fake "Analyst": They connect a so-called "analyst" to the investor, who supposedly advises on profitable deals or provides copy-trading support but, in reality, blows the deposit.
• Romance Scams (Crypto-Romance): They search for victims on dating apps or initiate "random" acquaintances on Telegram. "Girls" and "guys" build a relationship with a person and then lure them into a trap with stories about their financial success achieved through a "magical" Web3 bot.

The victims note that the peak of deception under the guise of Web3 was in 2025. New fake Telegram bots appear literally every day. The losses of their victims reach $5-7 thousand.

How to Spot a Scammer and What to Do in Case of Fraud

It is important to remember that Web3 is not about bots or websites, but an umbrella term for new technology. To avoid losing money:

• Avoid platforms with aggressive advertising that appeal to emotions and pressure you into making quick decisions.
• Check the legal side of the service — licenses, registration, domain age (if it's a website). Scammers love anonymity.
• Do not agree to pay various fees, insurance, or taxes. Do not involve a trusted intermediary. Decentralized services do not charge withdrawal fees.
• Do not use invites from strangers. Even if you were invited to a project by someone you know, be sure to research reviews of the service on specialized platforms.

If you have transferred money to scammers, take screenshots of your correspondence, save the wallet addresses and copies of transaction receipts. If you dealt with a fake broker, you should file a complaint with the regional financial regulator and contact the cybercrime unit. You can also reach out to digital chargeback specialists. Lawyers and blockchain analysts will handle the fund recovery.

For Web3 applications to be profitable, use services with a good reputation and a large customer base. An anonymous Telegram bot promising mountains of gold is always a scam.

Share this information with your friends and colleagues to protect them from scammers.