Cryptocurrencies are a new part of our financial world but are quickly growing in popularity. One of the most well-known is Bitcoin, which has quickly grown in value over the past decade.

Both investors and criminals are trying to profit off this new technology, however.

“Crypto is both new and crypto is hot,” said Christopher Leach, an attorney at the Federal Trade Commission who focuses on consumer protection. “A lot of people are making a lot of money and people sitting at home might be thinking they want to get in on that, too.”

Bitcoin and other crypto-currencies are all the rage, but what exactly are they, and how do they work?

Cryptocurrencies are digital forms of payment that only exist online. The FTC says bitcoin and Ethereum are two of the most well known, but new ones are being created all the time.

In a new report, the FTC said that between October 2020 and the end of March 2021, it received more than…

Read more…