DENVER, Co. – The Denver Division of the Federal Bureau of Investigation (FBI) is warning about crypto investment scams, especially involving Tether (USDT) and USD Coin (USDC), that have been affecting mature adults.
In a common scenario, the victim is approached on a social media platform, dating app, or discussion forum with a cryptocurrency investment opportunity. The victim is directed to a link or phone number to set up the investment account. This is a scam – the link or phone number is controlled by the fraudster, who has set up a fictitious support site. Once the victim transfers the funds, the fraudster disappears with the money.
Nationwide, of the reported crypto fraud losses that began on social media, most are investment scams: Since 2021, $575 million of all crypto fraud losses reported to the Federal Trade Commission (FTC) were about bogus investment opportunities, far more than any other fraud type. More than 46,000 people have reported losing over $1 billion in crypto.
In 2021, Coloradans reported losing almost $25 million to investment scams, according to the FBI’s Internet Crime Complaint Center (IC3). Coloradans 60 and older lost more money to scams than any other age group.
“As more people use and invest in cryptocurrency, the more crypto scams we see,” said Special Agent in Charge Mark Michalek. “The FBI will investigate allegations of crypto scams, but the best path is not to fall victim in the first place. FBI Denver wants…
