Cryptocurrency Investment Scams

Below is a list of websites and companies involved in fraudulent activities using cryptocurrency. Thats a huge jump over the 570 cryptocurrency investment scams and 75 million in losses during the same months just the year before.

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From October 2020 to March 2021 nearly 7000 people reported losses of more than 80 million to cryptocurrency investment scams according.

Cryptocurrency investment scams. With cryptocurrency scams on the rise here are some. Crypto Scam List Last Updated. Crypto scams reported to Cert NZ a cybersecurity government agency cost New Zealanders 500000 from March through June.

Cryptocurrency investment scams can take many forms with the FTC highlighting scammers using. Of course if you pay theres almost no way to get that money back. Scammers might post investment sites that look real but youll find you cant withdraw the money youve invested Others pretend to be celebrities doing giveaways with claims of multiplying any cryptocurrency you send.

In fact anyone who tells you to pay by wire transfer gift card or cryptocurrency is a scammer. Crypto scams are most often targeted at gaining private information such as security codes or tricking an unsuspecting person into sending cryptocurrency to a comprised digital wallet. The FTC data released Monday showed about 7000 reports of crypto investment scams received by the agency since last fall with a median loss of 1900.

One sure sign of a scam is anyone who says you have to pay by cryptocurrency. Reported losses grew 10-fold to more than 80 million. Anatomy of a Cryptocurrency Investment Scam The FBI outlines the eight steps that a cryptocurrency investment scam commonly follows 1.

The scammers initial contact is typically made via dating apps and other social media sites. 3 From October 1 2019 through March 31 2020 people submitted 570 cryptocurrency investment scam reports indicating 75. Emma had owned cryptocurrency for a few years and the value of her investment had gone up and down.

How To Avoid Cryptocurrency Scams. Since October 2020 consumers have reported losing more than 80 million to cryptocurrency investment scams an increase of more than ten-fold year-over-year according to a new data analysis from FTC Data Shows Huge Spike in Cryptocurrency Investment. Cryptocurrency investment scams can happen in many ways but theyre all full of fake promises and false guarantees.

About 92 of cryptocurrency investment scam reports from October 1 2020 through March 31 2021 are classified as miscellaneous investments. The Federal Trade Commission FTC received nearly 6800 complaints of cryptocurrency investment scams from October 2020 through March 31 up from 570 in the same period a year before. Crypto Mining Investment Scams.

You give the celebrity-backed investment some of your cryptocurrency and you supposedly get back more than you put up. It includes Bitcoin scams Cryptocurrency scams fake ICOs as well as Forex crypto scams and other trading companies that are involved in fraudulent activities using cryptocurrency. Mining investment scams are one of the oldest and most effective ways to steal cryptocurrencies from new investors.

Scammers are always finding new ways to steal your money using cryptocurrency. Another scam involves pitches using celebrity names. Fake investment websites romance scams where victims are persuaded to.

In its latest quarterly report Cert warns that cryptocurrencies are high risk and highly volatile investment opportunities. In this particular cryptocurrency scam a company will approach an investor with a request to invest their cryptocurrency. Some of Emmas friends got into crypto mining and they said it was a great opportunity to make passive income on the side without much effort or knowledge.

But thats likely just the tip of the iceberg because few victims report their losses.

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