True Love Or Crypto Scam? Investors Face Rising Risk Of 'Long Con' Crypto Scams Tied To Fake Relationships. FBI Warns Of Billion-Dollar Crypto Losses.

Benzinga

Federal officials warn investors about rising cryptocurrency scams tied to fake relationships on dating apps, social media, and networking sites. Scammers use these platforms to pose as romantic interests, old friends, or investment professionals, gradually earning their victims' trust before introducing fraudulent cryptocurrency investments. According to the FBI, consumers lost over $5 billion in crypto-related frauds in 2023, with relationship scams being the most prevalent. The scams typically involve a long con that builds a victim's trust over time, with the scammer requesting increasing amounts of money.

Transcript

00:00It's Benzinga, and here's what's on the block.

00:02Federal officials warn investors about rising cryptocurrency scams tied to fake relationships

00:08on dating apps, social media, and networking sites.

00:11Scammers use these platforms to pose as romantic interests, old friends, or investment professionals

00:17gradually earning their victims' trust before introducing fraudulent cryptocurrency investments.

00:22According to the FBI, consumers lost over $5 billion in crypto-related frauds in 2023,

00:28with relationship scams being the most prevalent.

00:31The scams typically involve a long con that builds a victim's trust over time, with the

00:36scammer requesting increasing amounts of money.

00:38For all things money, visit Benzinga.com.

Category

Transcript

Comments

Recommended