(InvestigateTV) — The Federal Trade Commission says more than 46,000 Americans have reported losing a total of $1 billion in crypto scams since 2021.
Since cryptocurrency payments do not come with any legal protections or government assurances, the experts we spoke to say crypto scams are especially attractive for thieves.
The FTC says scammers are always finding new ways to steal your money using cryptocurrency.
What can you do to protect your money:
- Only scammers demand payment in cryptocurrency. No legitimate business is going to demand you send crypto in advance.
- Don’t trust people who promise you can quickly and easily make money in the crypto markets.
- Never mix online dating and investment advice.
Reporter Susan Campbell goes in-depth with a woman who lost hundreds of thousands of dollars after she responded to a pop-up alert on her computer.
See other scam warning stories from InvestigateTV:
- Experts warn of increase in ‘smishing’ scams
- Romance scams rake in big bucks for fraudsters
- How to spot misleading ads and subscription traps for weight loss products
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