Posted On: April 4, 2025 by Austin Bank in: Fraud Alert
Crypto comes with many risks and even more scams. For crypto investment fraud, scammers will go to the extent of joining online social media forums or chats to build trust with their target victims and then refer them to invest in crypto. On some occasions, victims have been asked to pay upfront taxes or fees to cash out their crypto investment. However, this money is never returned.
Additionally, consumers should use extreme caution if they receive a request to conduct a transaction through a Bitcoin ATM from someone whom they met online or received a phone call from.
To learn more about crypto scams, click here for additional information from American Bankers Association, or check out this Federal Trade Commission blog.
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