BBB warns of cryptocurrency scams


HARRISONBURG, Va. (WHSV) – Not too long ago, the Federal Commerce Fee launched a report exhibiting because the starting of 2021, greater than 46,000 folks have reported shedding greater than a billion {dollars} from scams involving cryptocurrency.

“If anyone is asking you for cost in cryptocurrency, you need to run the opposite means. If any individual reaches out to you on social media, as a good friend, and says they’ve an excellent alternative for you and have made this a lot cash you simply must pay them, give them this amount of cash – run the opposite means,” Julie Wheeler defined.

Wheeler is the president and CEO of the Higher Enterprise Bureau serving Western Virginia. She says cryptocurrency is a nonmonetary means of doing transactions.

“Sadly the usage of cryptocurrency has drastically broadened and expanded because the rip-off artists have realized that it’s a means they are saying they’re conducting their gross sales or purchases,” Wheeler defined. “They do it underneath the radar,” Wheeler stated.

The FTC reports that $575 million had been misplaced in investment-related cryptocurrency scams.

Another methods folks might develop into victims of the schemes are by way of romance scams, and enterprise or authorities imposters. Wheeler says it’s essential be certain you understand all of the info earlier than utilizing it.

“You actually need to [use] unbiased information sources, be sure that it’s not advertorial. Don’t make investments something you can not afford to lose,” she added.

Wheeler says these within the 25-40 age group have been most affected. To learn extra about cryptocurrency scams, click here.

Copyright 2022 WHSV. All rights reserved.

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