List of Scams and Fraud Schemes to Watch Out For

This guide outlines the common types of scams, shows how a scammer typically operates, and explains how to protect your personal information, financial information, and identity. Margex itself is not a scam, not a fraud scheme and never asks users to send money to someone, pay a fee, or disclose personal or financial information — but scammers may impersonate exchanges, including Margex, to trick victims.

Key Takeaways

• Scammers try to pretend to be someone you trust, making it seem like a legitimate request.

• Never send money, gift cards, or financial data to unknown callers or emails.

• Lottery or sweepstakes messages claiming you’ve won are almost always a scam.

• Debt relief and mortgage promises that require you to pay an upfront fee could be a scam.

• Margex will never ask you to send them money, request remote access to your computer, or ask for your social security number.

Imposter Scams (Fraudsters Pretending to Be Someone You Trust)

Among the 10 most common fraud categories, imposter scams remain the most damaging. A fraudster or scam artist may contact you claiming to be:

• A support agent

• A government officer

• A bank representative

• A grandchild needing urgent help (common in grandparent scams)

• An exchange employee

These scams involve messages or calls designed to take your money or steal your identity. A caller may spoof the number on your caller ID to make it seem real. The scam works by creating urgency — asking you to send money, transfer money, or give access to your computer “to verify the story.”

Margex does not call users demanding payment, taxes, or money to someone in a foreign country. If anyone asks you to pay to “recover funds,” it’s a scam.

Investment-Related Scams (High-Return Promises and Fake Opportunities)

Investment scam operations usually promise:

• Unrealistic or guaranteed returns

• Secret trading strategies

• Risk-free profits

• Requests to send the money upfront

These scams could target your online payment accounts, ask for financial information, or request you to pay a fee “to increase your chances of winning.” Some scammers may impersonate crypto platforms to lure users into fake investment programs — Margex has no such programs and never asks you to send money online outside its official platform.

Even if they appear legitimate, if someone asks you to pay to unlock earnings, pay taxes, or join a special club — it could be a scam.

Lottery & Prize Scams (You’ve “Won”, But It’s a Scam)

These messages often claim:

• “You’ve won the lottery!”

• “Increase your chances of winning!”

• “Claim access to your winnings now!”

This is one of the common types of fraud used by a scammer to collect your email addresses, social security number, bank details or personal information.

Typical signals:

• You are asked to pay to enter, pay “fees or taxes,” or use unusual payment methods.

• You are asked to send money or send gift cards to unlock the prize.

• You receive scam emails from a foreign country claiming a sweepstakes win.

• Messages look “too good to be true.”

Legitimate lotteries never ask you to pay to get your money.

Margex does not run lotteries, sweepstakes, or prize programs that require upfront fees.

Debt, Mortgage & Financial Relief Scams (Fake Solutions for Money Problems)

These consumer scams promise help with:

• Debt relief

• Loan modification

• Mortgage closing issues

• Financial hardship solutions

A scammer may ask for:

• Personal or financial information

• Payment upfront for paperwork

• Remote access to “verify” your data

These common fraud schemes often use official-looking documents from Housing and Urban Development, or they pretend to be someone from a bank to get you to pay. The scammer may also request access to your computer “to review documents” — giving them the chance to steal your identity, take your money, or get your data.

Margex does not provide debt services, loan modification, or any relief programs — anyone offering such help using Margex’s name is conducting a scam.

FAQ

What are the common con schemes?

Some of the common types of scams include imposter scams, investment fraud, romance scams, online job traps, pyramid schemes, prize/lottery scams, and relief scams. If someone asks you to send money, demands personal information, or pressures you — it could be a scam.

What are the five area codes you should never answer?

Scammers often spoof numbers from foreign country codes or high-risk regions. While any number can be faked, unknown callers from suspicious regions should be avoided. Remember: a caller ID can be forged.

What are common scammer phrases?

Typical red flags include:

• “You must act now.”

• “Don’t tell anyone.”

• “You need to send money to verify your account.”

• “We need your social security details.”

• “Pay a fee to receive your prize.”

• “Give us remote access to your computer.”

What are the most popular scam schemes?

The most common scam schemes include imposter scams (someone pretending to be a trusted person or organization), investment and crypto high-return scams, lottery and prize scams that ask you to pay fees to claim “winnings,” romance scams based on emotional manipulation, tech-support scams requesting remote access to your computer, fake online stores, charity scams, and debt-relief or loan-modification scams that demand upfront payments.