CoinMarketCap Issues Urgent Scam Warning Fake DMs

CoinMarketCap has given an emergency announcement to its community worldwide. The company advised users to disregard direct messages that purported to be part of its team. On X, the message says that CoinMarketCap will never send any message first and request payments. The platform stressed that any message of this kind is a scam and asked users to be careful with all messages before acting.

🚨 Be aware of scammers!

🔹 CoinMarketCap will NEVER DM you first. If you receive a message claiming to be from CMC & asking for funds, it's a scam!

Always verify before sending out your funds!

Stay #SAFU

— CoinMarketCap (@CoinMarketCap) October 19, 2025

The warning signals have been issued when cryptocurrency scams are on the increase across the world. Fraudulent pages claiming to be crypto exchanges, such as CoinMarketCap, Binance and Coinbase, are becoming widespread on social media. With the help of fake DMs, scammers are able to defraud the victim and get them to give up money or even personal keys. The reminder feature of the platform will safeguard millions of traders who will use CoinMarketCap to get market information and track cryptocurrencies.

Cryptocurrency Fraud Epidemic

The caution is symptomatic of a grave problem in the cryptocurrency industry. According to the reports by the global regulating bodies, crypto frauds have experienced an eruption over the last few years. Previously, the U.S. Federal Trade Commission disclosed that the amount of money lost to crypto fraud had increased to over one billion dollars in 2021. This has since then continued to increase scams with increasing adoption. A lot of victims become victims of phishing websites, investment offers, or impersonation in the social media.

According to security experts, the newest generation of frauds tend to employ AI-generated messages. Fraudsters have come up to develop convincing messages and counterfeit security seals. Others go to the extent of deepfaking videos of influencers or executives to look authentic. This complicates the ability of the users to differentiate between authentic messages and false messages.

The post CoinMarketCap shared with the hashtag #SAFU is a reminder to users to remain vigilant and fulfill their safe crypto habits. SAFU, the abbreviation of the term, meaning Secure Asset Fund for Users, is a successful term in the crypto industry to raise awareness of safety. A DM is a usual beginning of crypto fraud. The fraudster presents himself as a reputable business, with advice or special investment opportunities. When the victim replies, he/she is prompted to send crypto, hook up his wallet, or provide security information. The tactics result in stolen money and hacked accounts.

Best Practices

To help avoid crypto frauds, experts suggest a number of solutions. Never accept accounts without verifying them by looking at usernames, links, and followers. The websites of CoinMarketCap and other leading crypto companies post their verified communication channels on these sites. Do not send money to an individual who says he or she represents a company, without verification.

Two-factor authentication should also be enabled by users and hardware wallets should be used to store data in the long term. It is possible to minimize risks by regularly reviewing official announcements and learning about new methods of scams. Investor.gov tells users to beware of claims of guaranteed returns or an investment that promises to be risk-free.

The community members also contribute in raising the awareness. There were numerous responses to the post of CoinMarketCap by many users on X, who gave recommendations and jokes. Some warned and cautioned others against responding to suspicious DMs and the rest shared stories of close escapes. These reactions demonstrate that despite a rather rapidly changing market, mass vigilance can still be important.

Regulatory and Industry Action

Regulators are initiating the battle against scams of digital assets. The Digital Financial Assets Law has seen the California Department of Financial Protection and Innovation initiate a licensing system of crypto enterprises. The goal of this initiative is to minimize unjust and fraudulent activities in the market.

The world is becoming more crypto companies, building their own verification systems. Most of them are attaching security warnings on official pages and employing automated detection tools to mark suspicious accounts. In spite of all of these, the best defense is on the users. The post written by CoinMarketCap supports the idea that the modern world of finance requires education and care in the context of decentralization.

Future Outlook

The date of the warning given by CoinMarketCap indicates a recent increase in the reports of scams. As institutions continue to get involved and retailers implement it, fraudsters are focusing on new and old participants. False DMs and phishing attacks take advantage of the desire to know more and the need to act.

With the approach of crypto being mainstream in 2025 the boundaries of what is considered legitimate communication and what is considered fraud become even less distinct. The message directly to the users of CoinMarketCap acts as a reminder that decentralization comes with an opportunity and a responsibility. The company has still focused on safety, transparency, and personal vigilance as the basis of crypto participation.