As the usage of cryptocurrency turns into extra widespread, scammers are beginning to take discover. Numerous businesses are seeing a big improve in cryptocurrency rip-off stories for the reason that COVID-19 pandemic started. The Higher Enterprise Bureau desires you to be alert for the purple flags.
The hazard in coping with cryptocurrency is that accounts aren’t backed by a authorities. If you pay with cryptocurrency, there aren’t any authorized protections and funds sometimes aren’t reversible. BBB investigator Don O’Brien tells The Massive Z it’s best to watch out for false earnings claims and “funding managers.”
The Federal Commerce Fee reported earlier this 12 months that it acquired practically 7,000 complaints about cryptocurrency scams between October 2020 and March 2021 with reported losses of greater than $80 million. For extra details about Cryptocurrency and Scams, go to the Federal Commerce Fee’s web site: https://www.consumer.ftc.gov/articles/what-know-about-cryptocurrency-and-scams