People looking for love may think the internet is a wonderful place to start. Romance scammers, on the other hand, fool people with well-planned ways. They give love that nobody would ask for. Avoid crypto romance scams by familiarising their strategy and learning the tips experts say about it.
Do you know that 2021 was a record-breaking year for bitcoin crime? Scammers stole 14 billion dollars worth of cryptocurrency from victims last year, according to research quoted by CNBC. Theft and frauds are the most common crimes, up 79 percent from the previous high in 2020. Now, crypto scammers are turning to date apps as a new source of revenue.
Last year, romance fraudsters made off with $547 million in bitcoin, according to a new report from the Federal Trade Commission. That’s over six times the losses reported in 2017 and a spike of nearly 80% from 2020. Crooks begin by establishing a trust to control the target effortlessly. They aim to take your heart first, then your money.
They persuade you to invest in cryptocurrencies in exchange for unbelievable returns and then fool you into sending money to fake accounts. Unfortunately, because these phoney trading apps appear authentic, many individuals fall for them. It can get so bad that you may reach the point where you lose all of your life savings.
That is why experts always remind traders, especially beginners, to watch out for these fake crypto platforms. Ensure you’re dealing with reputable cryptocurrency exchanges,…
