In 2023, Americans lost over $5.6 billion through cryptocurrency fraud, a staggering 45% increase compared to previous year, showcasing a troubling trend in financial scams.
The decentralized nature of cryptocurrency, speedy transactions, and global transfer capability make it appealing for criminals, complicating recovery of stolen funds.
Scammers leverage social media and dating apps to gain trust before suggesting misleading cryptocurrency investments, often creating a facade of legitimacy.
The FBI warns that all age groups are at risk for these scams, underscoring the necessity for vigilance regarding unsolicited investment opportunities.
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