DENVER — The number of people who fall for crypto scams is on the rise as more people start using cryptocurrencies, according to a warning from the Denver Division of the Federal Bureau of Investigation.
Investigators in Denver said they are seeing a trend of adults being caught up in these scams, which typically involve Tether (USDT) and USD Coin (USDC).
FBI Denver is now warning Coloradans about how these scams usually play out. It said that the scammer typically approaches a victim on social media, dating apps or discussion forums. The scammer says they have a cryptocurrency investment opportunity — often with “zero risk” and ways to “make lots of money” — and asks the victim for a link or phone number, which they falsely say is to set up the investment account. Once the victim transfers the funds, the fraudster disappears with that money.
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In Colorado, investigators said they are seeing two main tactics: One is that a fake investment manager contacts you with a promise to grow your money, but only if you buy cryptocurrency and transfer it into their online account. The second is an online love interest asking for money or cryptocurrency to help you invest.
In 2021, Coloradans reported losing about $25 million in these types of scams. The FBI said this includes:
- A 52-year-old Aurora man lost approximately $600,000 in a Tether investment…
