FTC issues urgent warning about the increase in romantic scams with cryptocurrencies
The FTC asked users to report the scammers to the government and alert their loved ones about the coup.
NEWS
The United States Federal Trade Commission (FTC) has issued a consumer alert about romantic scams involving cryptocurrencies.
The FTC asked consumers to "cut contact" with online love interests that may be trying to steal their funds, using cryptocurrency investments as bait.
Scammers employ long-term tactics, taking the time to get to know their victims and build relationships before executing their schemes.
What are romantic blows?
The FTC stated that although people generally do not suspect that a love interest is applying a scam, love scammers create emotional connections with their victims, making it easier for them to believe the scammers' claims that they are cryptocurrency experts.
The government agency noted that these scammers are "good at what they do".
However, the FTC has warned investors that these scammers have already stolen millions of dollars from unprepared victims. The FTC wrote:
"They want to help you invest your money in the cryptocurrency markets or say they can teach you how to do it. You may think that they are concerned about your financial well-being, but they are not. They only care about their own financial well-being."
In addition, the FTC highlighted several warning signs that someone's love interest can be a scammer. These signs include promising large profits, ensuring that there is no risk, stating that they will teach investment secrets and persuading victims to send them money.
The FTC reminded consumers that no one can guarantee profits on any investment. The agency also said that all investments have risks, including cryptocurrency markets.
The government agency asked consumers to report possible love scammers with cryptocurrencies to the FTC and the social platform used by the scammer. In addition, the FTC also asked those who find scammers to alert their friends and family about the scam.
