AI trading bots in crypto: how to spot a scam and what to do if you have already paid
A platform that promises high and certain profits from cryptocurrency trading thanks to “artificial intelligence” is almost always a scam. The Czech National Bank (ČNB) warned about such offers again on 12 March 2026: none of them is authorised, and they often just change their name and website. The profits on their “account” are made-up numbers – the money is not actually traded but ends up with the fraudsters.
Summary
- No algorithm or AI can guarantee a profit on the cryptocurrency market. A promise of a “certain return” is in itself proof of fraud.
- Typical sequence: an ad featuring a well-known personality → registration → a “personal analyst” calls → a small deposit → fake growth → pressure for more deposits → withdrawal impossible.
- Before you send money, check the company in the ČNB list (JERRS) and the ESMA register. Since 1 Jul 2026, only firms licensed under MiCA may provide crypto-asset services in the EU.
- If you have already paid: stop payments, contact your bank immediately, report it to the police and don't trust anyone offering to “recover” your money for a fee.
Does automated trading work at all?
Automated trading exists and is legal. Exchanges offer, for example, “grid bots” that buy and sell within a set price range. The difference is that the money stays in your account at a regulated exchange, you set the rules yourself, and nobody promises you a result.
But even an honest bot can lose money. The cryptocurrency market is highly volatile and reacts to news, regulation and crowd sentiment. An algorithm that worked last year doesn't work this year. If someone had software with a guaranteed profit, they wouldn't sell it through social media ads – they would use it themselves.
How the “AI trading” scam works
- The ad. On Facebook, YouTube or a fake news website, you see an article or video in which a well-known politician, athlete or entrepreneur “reveals” their source of income. The video is often created with AI (a deepfake).
- Registration. You fill in your name, e-mail and phone number. The platform is called something like “Trader AI” or “TradeVision”, and in a few weeks it has a different name.
- The phone call. A “personal manager” or “analyst” gets in touch. They are friendly, patient and professional, and help you with your first, seemingly small deposit.
- Remote access. They ask you to install an app such as AnyDesk or TeamViewer “to help you with the setup”. This gives them access to your computer and often to your online banking too.
- Fake growth. On the platform account you see your deposit growing every day. But the numbers are just graphics on the fraudster's website.
- Pressure for another deposit. “Now is the ideal opportunity, the AI has found a great trade.” Sometimes they advise you to take out a loan.
- Withdrawal is impossible. When you try to withdraw, a “tax”, “transfer fee” or “account verification” appears that you have to pay in advance. After you pay, another fee follows. In the end the manager stops answering the phone.
- The second round. Months later, a “law firm”, “Interpol” or “the police” get in touch saying they have caught the fraudsters and will return your money – for an upfront fee. This is another scam.
Work out what they are promising
Fraudulent platforms often state a return of “only” 1% a day or 10% a month. It sounds modest, but with compounding (the profit is added to the deposit) these are figures nobody achieves on a real market over the long term:
| Promised return | CZK 10,000 would become in a year | Annual return |
|---|---|---|
| 0.5% a day | approx. CZK 61,700 | +517% |
| 1% a day | approx. CZK 377,800 | +3,678% |
| 10% a month | approx. CZK 31,400 | +214% |
| “guaranteed” 30% a month | approx. CZK 233,000 | +2,230% |
Returns like that would turn a few thousand koruna into millions within a few years. No investment can do anything like this over the long term – let alone with a guarantee. If someone promises you a certain return, the maths alone shows they are lying.
Typical signs of a scam
| What you see | What it really means |
|---|---|
| “Guaranteed profit with no risk” | A legitimate provider may not guarantee a profit. There is always risk. |
| An ad featuring a well-known personality | The personality usually knows nothing about the ad; the video has been manipulated. |
| Urgency: “offer valid today only” | The pressure is meant to stop you checking the company or talking to someone. |
| A request to install AnyDesk, TeamViewer or similar | An attempt to take control of your computer and banking. |
| Payment to a private individual's account or in cryptocurrency to an unknown address | Such money can hardly be traced or recovered. |
| A “tax” or “fee” must be paid in advance to withdraw | No legitimate platform asks for a separate withdrawal fee upfront. You pay taxes yourself to the tax office. |
| The company changes its name and domain and has no address in the EU | Typical according to the ČNB: the same offer appears under different brands. |
How to check a platform
- Find the exact name of the legal entity (not the brand) and its country of registration. Look for it in the terms and conditions or in the website footer.
- Check it in the ČNB list of regulated entities (JERRS) and in the ESMA register for MiCA. The transitional period ended on 1 Jul 2026 – a firm without a licence or notification may no longer provide crypto-asset services in the EU.
- Go through the ČNB warnings section and the international IOSCO warning list (I-SCAN).
- Search for the platform name together with “scam” or “fraud”.
- Remember that even a licence doesn't mean profit. The ČNB explicitly points out that supervision does not reduce the risks of investing in crypto-assets.
What to do if you have already paid
- Stop all payments and cut off communication. No further “fee” will get your money back.
- Contact your bank immediately. The sooner you do, the better the chance it can stop the payment or, for a card, start a chargeback. If you gave someone access to your online banking, have your access and card blocked.
- Uninstall the remote access app and ideally have your computer checked. Change the passwords to your e-mail, banking and exchanges and turn on two-factor authentication.
- If you paid in cryptocurrency, contact the exchange the payment was sent from. The transfer cannot be reversed, but the exchange can block the fraudster's account if it is held there.
- File a criminal complaint with the police. Bring payment statements, website addresses, the names of the “managers”, phone numbers, e-mails and screenshots.
- Report the platform to the ČNB using its online form. You will help warn others.
- Beware of “recovery agents”. According to European regulators, firms that contact you on their own and promise to recover your money for a fee are usually another wave of the same scam.
What next
- Offers to rent hashrate work on a similar principle – why to avoid most cloud mining and how to recognise honest hosting.
- How to protect yourself when buying cryptocurrencies and where to keep them safely is summed up in our guide to the world of cryptocurrencies.
- Another common trick is artificially inflating the price of small coins – how pump and dump works.
Sources
Frequently asked questions
Is every trading bot a scam?
No. Regulated exchanges also offer automated trading, but your money stays in your account and nobody may promise a profit. A scam is an offer with a guaranteed return where you send money to a third-party platform.
How do I find out whether a platform is licensed?
Find the company's exact name and look it up in your national regulator's register (in the Czech Republic the CNB's JERRS list) and in the ESMA register under MiCA. If it is not there, it may not provide crypto-asset services in the EU.
Can I get my money back if I have sent cryptocurrency?
A crypto transfer cannot be reversed. Your chances improve if you quickly notify the exchange the payment came from and the police – an exchange can freeze the recipient's account if it holds it.
A company contacted me offering to recover money I lost to a scam. Should I trust it?
No. According to European regulators, anyone who contacts you unsolicited and wants a fee upfront is usually another scammer with a list of victims.
Why does the platform want me to pay tax before a withdrawal?
It is a trick to get more money out of you. You pay income tax yourself to the tax office, not to a trading platform.
This text was prepared with the help of AI. Facts, figures and procedures were checked by Yegor.
