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Watch For Scams Newsletter. Cryptocurrency Investing Scams
September 29, 2021

Cryptocurrency Investing Scams

Watch For Scams is dedicated to helping you avoid becoming a victim of fraud.

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Cryptocurrency Investing Scams

Be warned about cryptocurrency investing scams in which fraudsters approach their victims online, promising major payouts.

The scam can begin through messages on social media, unsolicited email, dating sites and online advertisements.

Fraudsters will say they know cryptocurrency traders or investors, or claim to be one themselves.

Promising a big return, they'll convince people to transfer money and go as far as setting up fake websites where victims can supposedly see their funds sitting in cryptocurrency accounts.

In many instances, these fraudsters are using fake names and identities or impersonating existing legal companies.

The fraudster will continually ask for more money and additional fees and eventually, victims will not be able to recover their money at all.

People should trust their instincts and never invest in something they cannot confirm is legitimate, or receive a money transfer from an unknown person.

If you believe you have been a victim of this type of scam you should promptly report it to the IC3's website at The IC3's complaint database links complaints together to refer them to the appropriate law enforcement agency for case consideration.

Remember - always watch for scams!


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