Cryptocurrency scams have soared 1,000% since October – CBS News

Scammers are posing as celebrities to poach bitcoin and other cryptocurrencies from investors, the FTC said.

Americans have lost more than $80 million in cryptocurrency investment scams since October, a 1,000% increase from the fall of 2019, according to Federal Trade Commission data. People between the ages of 20 and 39 were hit particularly hard, representing about 44% of the reported losses, the FTC said.

The FTC data, released Monday, showed about 7,000 reports of crypto investment scams received by the agency since last fall, with a median loss of $1,900. The losses are taking place as bitcoin prices surge, celebrities back dogecoin and more Americans try to understand what cryptocurrency is all about.

Source: Cryptocurrency scams have soared 1,000% since October – CBS News

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