November 14, 2021
Scam/Fraud

Cryptocurrency scammers use social media to target new victims

DETROIT – Bitcoin 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.

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