Scammers Invading Social Media With Cryptocurrency Scams
February 25, 2022
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1:36Now PlayingScammers Invading Social Media With Cryptocurrency Scams
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as posted by the channelSocial media has grown to be a major part of our culture and now it is invaded with crypto scams. Check out the video to learn more.
Welcome back to Bold TV with Sofia Valdes. Be sure to like, comment, and subscribe to Bold TV for all things Bold.
Scammers that phone about your car's warranty or try to get you to buy random gift cards are also attempting to gain access to your cryptocurrency wallet via social media.
Many of you may be wondering how to get into cryptocurrency? Perhaps you don't feel well-informed, or perhaps you don't have the necessary funds at this time.
These con artists are attempting to take advantage of uneducated newcomers to the crypto ecosystem. Scammers impersonate celebrities, relatives, and friends. Users are sent direct messages to persuade them to invest in bitcoin, which they guarantee will yield large returns. According to the Federal Trade Commission, 64 percent of social media investment scams involve customers giving money to strangers to buy cryptocurrency from them.
The Federal Trade Commission (FTC) reported $770 million in losses from social media in 2021. So, how do you spot a crypto fraud? Someone who asks you to pay using a gift card, wire transfer, or cryptocurrency is most likely a con artist.
If they ask for any of your personal information, such as your social security number or credit card number, you should refuse. Always be cautious about who you share your financial information with. You never know who is attempting to exploit you.
Have you seen any cryptocurrency scams pop up on your page? Have you given money to a stranger? Let us know in the comments down below.
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