"The illusion of affordable wealth is the lure used to drain the economic resources of potential targets, the report highlights, adding that the information gathered reveals a worrying ecosystem in which unregulated investment platforms, cryptocurrency scams, and currency trading schemes proliferate unchecked. The patterns uncovered here should sound alarms not only for Latino communities but also for U.S. regulators, law enforcement agencies, and financial institutions."
"According to DDIA, more than 3,000 unique messages were analyzed with the help of Palvera technology company that specializes in social trend analysisand found that these are marked within WhatsApp with the caption frequently forwarded, a warning sign to be cautious. The Institute estimates that these fraudulent messages may have reached more than 192,000 users in 262 groups. It's an issue that deserves more attention."
Alleged opportunities to become rich overnight are proliferating in WhatsApp groups where Latino users predominate. The digital currency USDT is the most requested payment in these schemes. Scammers pose as investors, mentors, or coaches inviting users to exclusive entrepreneurship groups and promising extremely high profits, sometimes citing 1,000% returns. Unregulated investment platforms, cryptocurrency scams, and currency trading schemes spread unchecked. More than 3,000 unique messages were analyzed with Palvera technology and were often marked 'frequently forwarded.' Those messages may have reached over 192,000 users across 262 groups, creating significant financial and regulatory risks.
Read at english.elpais.com
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