Reddit Scams
Scams on Reddit — fake giveaways, impersonators, and investment pumps.
Last reviewed: 1 June 2026
Reddit's community-driven format creates an illusion of peer credibility that scammers exploit to sell fake investments, counterfeit goods, and too-good-to-be-true services. Crypto and investment subreddits are particular hotspots, but fraud also appears in marketplace-style communities and via direct messages from accounts impersonating well-known figures.
This guide covers the most common Reddit scam types, how to spot them, and the steps to protect yourself.
Common scams on Reddit
Cryptocurrency pump-and-dump posts
Coordinated posts in investment subreddits hype low-value tokens before insiders sell, leaving later buyers with losses.
Fake giveaways and AMAs
Posts impersonating celebrities or brands offer prizes that require a small 'processing' payment or wallet connection.
Reddit Marketplace fraud
Sellers in buy/sell subreddits collect payment then disappear without delivering goods.
DMs from fake recovery services
Users who post about losing money to scams are targeted by 'recovery experts' who charge upfront fees and deliver nothing.
Common red flags
- Investment posts with suspiciously enthusiastic comment sections
- DMs offering financial services after you mention a loss in a public post
- Giveaways that require sending cryptocurrency to 'verify your wallet'
- New accounts with no post history making enticing offers
- Sellers who insist on payment outside the subreddit's established escrow or trusted-trader system
How to protect yourself
- Check account age and karma before engaging with marketplace offers
- Turn off DMs from accounts you do not follow in Reddit Privacy settings
- Treat any investment recommendation in a subreddit as an opinion, not advice
- Never send cryptocurrency to 'verify' or 'unlock' a prize
- Use a subreddit's verified-seller flair or feedback thread for any transaction
How to report it
- Report posts and DMs using the 'Report' button below any Reddit content
- Message the subreddit moderators directly if a scam is active in their community
- Report to your national fraud authority if money was lost
Frequently asked questions
Are Reddit moderators responsible for scam posts?
Moderators are volunteers and cannot monitor every post. Reporting suspicious content to mods and admins is the fastest way to have it removed. Admins at reddit.com can act on site-wide violations.