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The FBI has warned citizens that cyber criminals are highly inventive and have found their ways to exploit cryptocurrency investors

The Federal Bureau of Investigation (FBI) warned financial institutions and investors to be careful when dealing with digital assets because the sector is rammed by scammers whose only goal is to defraud people. As of the moment, the agency has identified 244 victims of fraudulent crypto schemes who lost a combined sum of $42.7 million.

America’s top national security and law enforcement agency alerted that bad actors have flooded the cryptocurrency universe. Those exploit legitimate digital asset investments, defraud US consumers and cause financial losses to monetary organizations, the FBI added.

The agency said bad actors are highly creative and take advantage of the increased
interest in mobile banking and cryptocurrency investing. Some tricks include creating fake websites using logos, names, and other identifying information of legitimate companies.

Conned individuals believe they deal with authorized companies, but in most cases, it is too late when they understand the whole investment was a pure scam.

The FBI urged financial institutions to inform their customers about this activity and advise them on how to detect such fake websites.

 

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