Crypto Scams in the Netherlands
Fraudulent crypto investment schemes and fake token sales target Dutch investors through Telegram, Discord and Instagram with promises of rapid wealth.
Part of: Crypto Scams
Last reviewed: 1 June 2026
The Netherlands has one of the highest crypto ownership rates in Europe, making Dutch investors a high-value target for cryptocurrency fraud. The AFM and De Nederlandsche Bank (DNB) have published numerous warnings about unregistered crypto service providers targeting Dutch residents, with total reported losses running into tens of millions of euros annually.
Dutch victims are targeted through professional-looking Telegram investment groups, Discord servers for apparently legitimate crypto projects, and Instagram accounts projecting a lifestyle of crypto wealth. The high English-language proficiency of Dutch victims means they are equally targeted by English and Dutch-language schemes.
How this scam works on Netherlands
Criminal groups create convincing crypto project personas on Twitter/X and Discord, complete with white papers, tokenomics documentation and apparent developer teams. Dutch investors contribute to Initial Coin Offerings (ICOs) or purchase project tokens, which turn out to have no real utility and whose value collapses after the exit.
In a separate variant, a 'crypto mentor' on Instagram or Telegram claims to offer exclusive trading signals for a monthly fee, then introduces the victim to a controlled trading platform that shows profits but prevents withdrawals.
Dutch elderly investors have been targeted by phone calls from Dutch-speaking 'crypto advisers' who describe crypto as the only hedge against inflation, directing them to purchase Bitcoin at Dutch ATMs and send it to a provided wallet address.
Common red flags
- Crypto project with no verifiable team identities or audited smart contract
- Instagram 'mentor' asking for a fee before sharing trading signals
- Telephone call directing you to purchase Bitcoin at an ATM for investment
- iDEAL or SEPA payment for crypto to a wallet address provided by a stranger
- Withdrawal from crypto platform blocked by network fees or verification steps
- Project not registered with AFM as a crypto service provider
How to protect yourself
- Check that any crypto service provider is registered with De Nederlandsche Bank
- Never purchase crypto at an ATM on the instruction of an unsolicited caller
- Research any crypto project extensively through independent sources before investing
- Report suspicious crypto platforms to the AFM and Fraudehelpdesk
- Use only established, licensed Dutch crypto exchanges for purchases
How to report it
- AFM: afm.nl/meldingen — report unlicensed crypto service providers
- Fraudehelpdesk: fraudehelpdesk.nl
- Politie: politie.nl/aangifte — official police report
Frequently asked questions
Does a crypto exchange need to be registered to operate in the Netherlands?
Yes. Under Dutch Anti-Money Laundering law, crypto service providers must register with De Nederlandsche Bank (DNB). Check the DNB register at dnb.nl/register before using any crypto platform.