FBI concerned for crypto scams

By Riya gote

Oct 3, 2020

Social media and cryptocurrency are a "combustible combo for fraud," according to a report.

The FBI is concerned about cryptocurrency scams happening all over US.

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FBI concerned for crypto scams

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The US has already expressed worry about the increase in bitcoin frauds.

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The US Federal Bureau of Investigations focused on bitcoin fraud in July.

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In a notice that informed the general public about applications utilising the same logos and contact information as reliable businesses.

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Cryptocurrency frauds are now a major worldwide threat.  According to the FTC, 2021 saw approximately half of the $1 billion in cryptocurrency frauds.

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These cryptocurrency scams have taken advantage of many unwary individuals.

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These scams are common not only on Meta but also on YouTube and Twitter.

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Fraudulent transactions are also carried out through bogus websites and projects.

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