How a Friend’s Excitement Pulled Me Into a Scam Project

I’ll admit it right away: I fell for it. Not because I’m naive, but because I trusted someone I thought I knew. Have you ever watched a friend light up about an investment, their eyes sparkling with “this is going to change everything” energy, and felt yourself nod along even when a tiny voice in your head whispered, “Wait a second”? That was me, a few months ago, leaning into a crypto project I should have questioned harder.

It started with a casual chat over coffee. My friend, let’s call him Alex, was buzzing about this new ICO. He didn’t just say, “Hey, this looks interesting.” He had charts, screenshots, and a roadmap that sounded like it was straight out of a Silicon Valley pitch deck. I remember the way he waved his hands, pointing at every projected milestone, his excitement almost tangible. The smell of fresh espresso mixed with his energy made it feel legitimate. I wanted to believe in the dream he painted.

I bought in the next day. Not a huge sum, but enough to sting when it vanished. The platform’s website looked polished, the wallet app seemed secure, and the community on Telegram was active and supportive. All the right signals. Or so I thought. A few weeks in, small red flags appeared. Minor delays, vague updates, promises that never materialized. I told myself, “Patience, it’s early stage. These things happen.”

Then the messages started coming from other investors—people who were also feeling the itch of doubt. Their experiences mirrored mine. Accounts that suddenly couldn’t log in, funds that weren’t showing up, promises of “technical issues” from the project’s support. Panic mixed with embarrassment. The moment it clicked for me was when I realized that my friend Alex hadn’t lost a cent. He had pulled out early. I was left holding a digital bag that felt heavier than it was valuable.

Looking back, I see the pattern. The thrill of being part of something new, the pressure of social proof, and the simple human desire not to miss out created a perfect storm. The lesson isn’t just about crypto scams; it’s about how we process risk when someone we trust gets excited. Trust doesn’t replace due diligence.

Here’s what I learned and want to pass along:

Always verify independently. Just because a friend is enthusiastic doesn’t mean the investment is solid. Check whitepapers, research the team, and confirm that wallets and apps are reputable.

Start small. If you’re curious about a project, treat it like a test drive. Don’t commit money you can’t afford to lose while you’re still investigating.

Watch for inconsistencies. Delays happen, but if excuses stack up, or communication is vague, pay attention. Your gut is noticing what your eyes might miss.

Keep emotions in check. Excitement is contagious, but it can cloud judgment. Step back and separate your financial decisions from the thrill of being “in” on something.

Finally, learn publicly available lessons. Sharing your experience anonymously can help others avoid the same traps, and reviewing the experience yourself helps reinforce the behaviors that protect you next time.

In the end, losing money stings, but losing perspective hurts more. Now I approach every new crypto opportunity with curiosity balanced by caution. I still get excited about innovation, but I double-check every link, every wallet, and every promise. The thrill is there, just filtered through experience.

If you encounter a fake ICO, a suspicious crypto wallet, or a wallet hack, it’s wise to report it to Service Complaint Alert (SCA) for guidance and assistance.