DETROITBitcoin is the most common form of cryptocurrency on the market but there are many others to choose from and different exchanges to trade them.

Danielle and Chris Girt put $500 into what they thought was a Bitcoin investment on Facebook. It turned out to be a scam.

“In the beginning, everything was kind of lining up legitimate, that was initially. When we started to get really skeptical was when they requested more money in order to even get a withdrawal,” Danielle Girt said.

Read: More Metro Detroit scam coverage

Federal investigators said there has been a massive spike in cryptocurrency scams. Since October, nearly 7,000 people have reported losses of more than $80 million. The average loss was nearly $1,900.

IRS Special Agent Christopher Janczewski investigates cryptocurrency cyber crimes.


“I think one of the easiest things people can get caught up with is that they’ve heard the stories of somebody being an early adopter to a…

Read more…