Cryptocurrency is rising in popularity driving record investments and scam losses

COLORADO SPRINGS — Have you heard of cryptocurrency? Some people believe online currency like Bitcoin will be the currency of the future. Investing in it, they are making money off of it as more people start to believe in its value. News5 is learning as the popularity of cryptocurrency increases, so do the number of scams.

Cybercriminals are finding ways to drain people’s cryptocurrency accounts in a matter of seconds and there’s no easy way for victims to recover their funds.

The Federal Trade Commission says cryptocurrency investment scams have cost Americans more than $80 million since October 2020. 44% of the victims are between the ages of 20 and 39. The FTC says victims lose an average of $1,900.

The Vidovic family learned the devastating impact of having their cryptocurrency wiped out. They had no idea their’s was at risk until someone drained cryptocoins worth nearly $170,000 from their online account.

Criminals hacked the Vidovics’…