Bait-and-Switch Scam Meaning

A bait-and-switch scam is a deceptive tactic where a victim is lured with an attractive offer (“the bait”) and then redirected into a different, worse deal (“the switch”). In everyday commerce, it can look like a highly discounted product advertised to draw you in-only for the item to be “unavailable,” after which you’re pressured toward a more expensive or lower-quality substitute. In crypto, the same pattern appears through misleading promotions, fake listings, and manipulated narratives.

The bait might be an “exclusive” token sale, a too-good-to-be-true yield opportunity, an airdrop promise, or a trading offer that suggests unusually high returns. Once the victim engages-connecting a wallet, depositing funds, signing a transaction, or registering on a platform-the scammer shifts them to something else: a different token than advertised, a fake contract address, a withdrawal fee trap, or a “replacement” investment that benefits the scammer.

These scams often rely on urgency and confusion. The victim is rushed (“limited time”), distracted by social proof (fake influencers, fabricated testimonials), or overwhelmed by technical details.

The “switch” can happen subtly: a token name that looks similar, a website clone, a smart contract that behaves differently than expected, or a platform that changes terms after deposit. In some cases, the victim is guided through steps that feel legitimate-until the final action irreversibly transfers funds.

Practical red flags include: unclear or changing terms, pressure to act immediately, unverifiable team or product claims, inconsistent contract addresses across channels, and requests to sign unfamiliar permissions. A legitimate project typically provides consistent documentation, clear token addresses, and transparent mechanics.

The safest habit is to verify everything independently: confirm the official domain, cross-check token contracts from trusted sources, and avoid connecting wallets or depositing funds based solely on promotions. If you want, I’ll continue with the next terms in your paste (Baking, Balanced Funds, Balloon loan, Balloon payment, Bank run, Bar chart, Basis point, Basket, Beacon Chain, Bear call spread) in the same ~400-word rewritten format.