Crypto News: Valentine’s Day to Lure in Victims

Crypto News: FBI Alert Due To Con Artists This Valentine

Crypto News: Cryptomarket And The Upcoming Valentine’s Day

As per a latest crypto news report, there has been an alert by the FBI. Valentine’s Day is approaching and so is the excitement attached with it. However, the crypto enthusiasts need to be extra careful this February 14, as they can become victims to crypto frauds.

The FBI has warned against crypto con artists and crypto scammers who are believed to use the day to trick you into fraudulent cryptocurrency investments. They could make use of fake identities and deceptive websites to steal your funds, which is expected to happen on a comparatively larger scale than the regular crypto scams.

Crypto Valentine - How The Scammers Function

This is a warning by the FBI Philadelphia Field Office, as crypto scams news as well as crypto scammer list are already on a rise. The fraudsters may use online romance schemes to manipulate victims and lure them through fake investment opportunities involving digital assets.

As per crypto news now, the FBI explained, “Once trust and rapport are built, scammers manipulate the victims, often with the promise of lucrative investment opportunities, into depositing money into financial ‘investments’ using cryptocurrency.”

Digital assets are gaining more and more popularity, but so is the sophistication of such scams. You might find the websites very professional, despite the fact that they might be falsely displaying high ROIs, in order to encourage you to deposit funds. When, as victims, you attempt to cash out, you will be upfront with unexpected obstacles, making you lose more, that too, on a continuous basis.

The FBI further detailed, as per crypto news today, “Scammers will often claim the victim needs to pay additional ‘taxes’ or ‘withdrawal fees’ to release their investment ‘gains’, thereby obtaining additional victim funds. Then the scammer cuts off contact with the victim, vanishing with the invested sums.”

This way, you will lose even when you feel you’re on the verge of receiving significant amounts of funds. The scammers can pose as overseas workers too, and use excuses to justify their inability to meet in person. Frauds are rising day by day, so are crypto scams in India, the US, and many other regions. There have been several crypto scams in the past, including the Bitcoin-related scam and one concerned with Kansas.

How To Avoid Crypto Scam - Don’t Get Trapped

You can prevent yourself from falling into this mess and avoid crypto scams by being extra careful and taking the required measures when working in the crypto space, making investments, trading or making related decisions.

You should be skeptical of anybody promoting crypto investments, especially when you encounter them via online dating platforms or social media. Be especially cautious when you notice conversations moving off the dating apps, when you are asked to be quick with making investments, or even when demanded gift cards, money or cryptocurrency.

Lastly, verify the opportunities independently and do not send funds when the person has only interacted online. One may choose to use crypto scam checker too.

In case you feel you have been targeted, immediately report to the Internet Crime Complaint Center to initiate a crypto scam complaint.