How to spot cryptocurrency Bitcoin scams trying to steal your money
AS Bitcoin and other cryptocurrencies rise in popularity, so too have crypto-related scam operations and phishing attempts.
While the growth of Bitcoin has skyrocketed in some bank accounts, it’s also fueled the growth of crypto-related fraud operations.
The FTC reported that since October of 2020, nearly 7,000 people have reported losses of more than $80million in the US due to cryptocurrency scams.
That number is around 12 times, or 1,000 percent more than reported losses from the period a year earlier.
Here are some of the red flags that may signal a Bitcoin scam so you can protect your crypto wallet.
POSING AS AN AGENCY OR BUSINESS
Some reports to the FTC said victims…