Written by: James Carnell
Investment scams using online trading platforms are often promoted online and via social media channels. Fraudsters typically promise high returns and use fake celebrity endorsements and images of luxury items to entice people to invest in their scams
Financial fraudsters use sophisticated and effective tactics to get people to part with their money. Investment broker scams, online trading scams and bitcoin scams are a dime a dozen.
There are few other scams out there that take advantage of the fact that not everyone is experienced with cryptocurrencies.
Investing in cryptocurrency means taking on risks, but getting scammed shouldn’t be one of them. Reports to the FTC’s Consumer Sentinel1 suggest scammers are cashing in on the buzz around cryptocurrency and luring people into bogus investment opportunities in record numbers. Since October 2020, reports have skyrocketed, with nearly 7,000 people…