LARP in crypto is slang borrowed from live-action role-playing, the hobby in which people act out characters in costume. In crypto conversations, saying that someone is "LARPing" means they are pretending to be something they are not: an anonymous account posing as a wealthy trader, an influencer claiming insider knowledge, a newcomer acting as an experienced developer, or a project that markets itself as decentralized while a small team still controls the keys, a pattern critics call "decentralization theatre". The term is often aimed at projects that copy the look of serious finance, such as describing themselves as a bank, without the licences or safeguards. It is a criticism rather than a technical label, and it overlaps with warnings about crypto scams and exit scams that rely on fake credibility.
Last updated 13 Nov 2026