FBI Warns of Ichcoin Targeting American Crypto Investors

The Federal Bureau of Investigation (FBI) has issued a warning about Ichcoin, a fraudulent cryptocurrency platform that is deceiving investors across the U.S. by luring them in through social media, then tricking them into wiring large sums of money. Victims are led to believe their investments are growing but are ultimately left with nothing, often losing their life savings. Assistant Special Agent Amanda Culver highlights the ease with which scammers operate and urges caution.

FBI Warns of Ichcoin Cryptocurrency Scam Targeting US Investors

The Federal Bureau of Investigation (FBI) issued a warning on Thursday regarding the fake cryptocurrency platform Ichcoin, which has defrauded investors across the U.S. The FBI’s Houston office is now trying to identify additional victims.

Assistant Special Agent in Charge Amanda Culver described Ichcoin as a “scheme” and a “scam” that often starts on social media platforms such as Instagram and Facebook. Scammers then move communication to WhatsApp, where they pretend to be cryptocurrency investment coaches. From there, they push victims to lie to their banks and wire large sums to the fraudulent platform.

Victims are misled into thinking their investments are growing, only to be “ghosted” when attempting to withdraw funds. Emphasizing that some victims lost their life savings, Culver said:

The average person could certainly be fooled by this scam.

She added: “It is extremely easy to use these platforms to bamboozle people… crypto is one of those platforms on which folks recognize that there can be a return on investment. The concern is that homework needs to be done.” Culver also warned about red flags, saying:

I think it’s important for people to know that any time you receive unsolicited messages from people asking you to invest, promising high rates of return on your investment, telling you that they’re going to give you free money for you to invest, anything along those lines, those are red flags.

What do you think about the Ichcoin scam targeting U.S. investors through social media? Let us know in the comments section below. #Write2Earn