The past two years have seen an explosion of crypto currency scams which has led many people to ask the same question – how? After all, crypto currency is something most people don’t understand, and those who do follow it know that it is very volatile, completely unregulated, and has no protection for investors. So, given all of that, how are people losing billions a year to crypto scams? If we had to pick someone to blame (besides the criminals), it might be Cupid.
Romance scams have become one of the top drivers of crypto currency fraud, because once the criminal creates a deep connection with their victim, they are able to get that person to do things they wouldn’t normally do.
If someone you only know online tells you they are making money investing in crypto and offers to teach you how, it’s a scam – full stop. It doesn’t matter how well you think you know this person or how strong of a bond you feel you’ve created, asking for money to invest in crypto currency is one of the surest signs of a modern-day romance scam.
Be a fraud fighter! If you can spot a scam, you can stop a scam.
Report scams to local law enforcement. For help from AARP, call 1-877-908-3360 or visit the AARP Fraud Watch Network at www.aarp.org/fraudwatchnetwork.