Bangladesh Bank crypto warning: What you need to know about crypto bans and scams

When the Bangladesh Bank crypto warning, a formal directive from Bangladesh's central bank prohibiting all cryptocurrency transactions and services. Also known as crypto ban in Bangladesh, it was issued in 2017 and remains strictly enforced today. This isn’t just a suggestion—it’s a legal order. Banks, payment processors, and fintech firms are forbidden from handling any crypto-related activity. If you try to send Bitcoin through a local bank, your account gets frozen. If a business accepts Ethereum, it risks fines or shutdown. The government’s stance is clear: no digital currency, no exceptions.

But here’s the twist: people still trade crypto in Bangladesh. Not because they’re ignoring the law, but because they have no other choice. With inflation rising and the taka losing value, many turn to Bitcoin and USDT to protect their savings. They use P2P trading, peer-to-peer platforms where buyers and sellers exchange crypto directly without banks. Also known as crypto P2P Bangladesh, this method bypasses the banking system entirely. You’ll find traders on Facebook groups, WhatsApp channels, and encrypted apps like Signal. They meet in person, pay in cash, and use VPNs to access Binance or OKX. It’s risky, but it works. Meanwhile, crypto scams, fraudulent projects promising free tokens or guaranteed returns that vanish after collecting money. Also known as fake airdrops Bangladesh, they thrive in this gray zone. Scammers know people are desperate for alternatives. They create fake websites claiming to be "official Bangladesh Bank crypto wallets" or "government-approved token launches." They even copy real project names like NAMA or DIVER to trick you. One look at the posts below and you’ll see how common this is—NAMA Protocol never ran an airdrop. HAI token was destroyed by hackers. Mones? No such thing. These aren’t mistakes. They’re traps.

The Bangladesh Bank crypto warning didn’t stop crypto. It just pushed it underground. And where there’s underground activity, fraud follows. You can’t use crypto legally in Bangladesh, but you can still lose your money to scams pretending to be legal. That’s why understanding the truth matters more than ever. Below, you’ll find real breakdowns of fake airdrops, banned exchanges, and how people still get access to crypto despite the ban. No fluff. No hype. Just what’s real, what’s fake, and how to stay safe.