BBB warns of cryptocurrency scams – KFVS

Reports from victims of large financial losses to cryptocurrency related scams are skyrocketing.

CAPE GIRARDEAU, Mo. (KFVS) – Reports from victims of large financial losses to cryptocurrency related scams are skyrocketing.

That’s new information from the Better Business Bureau.

Whitney Quick, with the BBB, shares how to avoid being a victim.

“In 2021, BBB received more than 2400 complaints with monetary losses of nearly $8 million involving cryptocurrency companies. Scam tracker reports to BBB tripled from 2019 to 2021. And reported losses tripled over the last two years. So cryptocurrency accounted for the second highest scams are scam losses reported to the Federal Trade Commission in 2021. With losses of $750 million,” Whitney Quick said. “The FBI’s Crime Complaint Center and the Canadian Anti-Fraud Centre also had major increases in reports received a major increases in losses. So, BBB study notes that the research shows that most people do not make a report when they get…

Read Full Story: https://www.kfvs12.com/2022/03/27/bbb-warns-cryptocurrency-scams/

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