There’s a lot of uncertainty and risk surroundingcryptocurrency, which can make investors susceptible to getting scammed.
Since October 2020, around7,000 people reported losing more than $80 million on scams.
That’s around 12 times the number of reports from a year ago, the FTC says.
Scammers are using every trick available to pry money from people’s hands.
After Musk’s announcement,multiple crypto coins took a dive, including the popular meme coinDogecoin.
“All of this plays right into the hands of scammers.”
“These websites may even make it look like your investment is growing.
Also be weary of any callers, supposed love interests, organizations or anyone else who insists on crypto.
“you’re free to bet it’s a scam.”
Growing concern about the large energy consumption required for cryptocurrencies like Bitcoin has also forced prices to drop lately.
This would help curb tax evasion and other crimes, the Treasury says.
