- The massive spike in the price of bitcoin will create urgency around investing in crypto and scammers use that sense of urgency to steal, according to the Identity Theft Resource Center.
- Cryptocurrency scams are already rampant: The FBI’s Internet Crime Complaint Center says estimated losses topped more than $5.6 billion last year, nearly half of the total fraud losses reported.
- Beware of text and email promotional offers from unknown companies, unauthorized use of well-known figures in solicitations, such as Elon Musk, claims that your account has been compromised, and most of all, any deal that seems to good to be true, including promises of exceptional returns.
Consumers beware: With bitcoin trading
solidly over $90,000 this month and closing in on the $100,000 level, cybercriminals will be circling the wagons.
“This is going to create a lot of FOMO and a lot of urgency around investing in bitcoin and paying with bitcoin,” said Eva Velasquez, president and chief executive of the Identity Theft Resource Center. Scammers “love, love, love to leverage external events, create confusion, create that sense of urgency and steal your hard-earned money.”
The issue is compounded by the fact that legitimate strategies to make money with bitcoin are being discussed publicly by reputable sources. That, coupled with the technological advances of AI, makes scams seem more real, even for more sophisticated investors, industry professionals said.
https://www.cnbc.com/2024/11/29/new-bitcoin-bull-market-crypto-scams.html