\u201cGiven that investment scams are really driving this, it’s very important for people to understand that any promises of huge returns, or that your investments can be quickly multiplied, are obviously a scam,\u201d Fletcher said. “No return on a crypto investment is guaranteed.”<\/p>\n<\/div>\n
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An ex-cop fell for Alice. Then he fell for her $ 66 million crypto scam.<\/span><\/p>\n<\/div>\n\n
So-called romance scams – in which thieves posing as potential love interests ensnare people on dating apps or social networks, then persuade them to invest in fraudulent crypto schemes – cost victims $ 185 million, according to the report. A single such scam last year probably took in more than 5,000 victims and made off with more than $ 66 million, a Washington Post investigation found.<\/p>\n<\/div>\n
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People between 20 and 49 were more than three times as likely as older cohorts to be taken in by crypto grift, the FTC found. And crypto scams made up 35 percent of the fraud suffered by people in their 30s.<\/p>\n<\/div>\n
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Crypto’s lack of federal oversight has helped make it a magnet for criminals. \u201cThere’s no bank or other centralized authority to flag suspicious transactions and attempt to stop fraud before it happens,\u201d the FTC’s report said. Plus, “crypto transfers can’t be reversed – once the money’s gone, there’s no getting it back.”<\/p>\n<\/div>\n
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Fletcher said potential crypto investors, in addition to being wary of promises of big returns or enticements from dating app matches, should steer clear of pitches on social media. \u201cEven when it’s somebody who may very well be their friend, the account could have been hacked,\u201d she said.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"Placeholder while article actions load Americans have lost more than $ 1 billion to cryptocurrency scams since the start of last year, as criminals exploit rising popular interest in scoring quick digital riches, according to a new analysis by the Federal Trade Commission. Crypto-based with jobs now account for a fourth of all dollars lost …<\/p>\n
Crypto scams cost Americans more than $ 1 billion in last year, FTC reports<\/span> Read More »<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[8],"tags":[],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"fifu_image_url":"https:\/\/www.washingtonpost.com\/wp-apps\/imrs.php?src=https:\/\/arc-anglerfish-washpost-prod-washpost.s3.amazonaws.com\/public\/343AMVGSD4I6ZCDL353BQPJDH4.jpg&w=1440","_links":{"self":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/36695"}],"collection":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/comments?post=36695"}],"version-history":[{"count":0,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/36695\/revisions"}],"wp:attachment":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/media?parent=36695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/categories?post=36695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/tags?post=36695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}