Cryptocurrency, or Crypto, is a type of digital currency purchased via phone, computer, or cryptocurrency ATM. Unlike traditional currency, crypto values frequently change and aren’t backed by the federal government. Using crypto doesn’t offer the same protections that a traditional bank account or debit card would.
Scammers often trick individuals into purchasing cryptocurrency under the guise of investment. They guarantee you’ll get profits or big returns while in reality they’re just taking your money.
Remember:
- A legitimate business will never demand payment via cryptocurrency.
- A romantic interest or “celebrity” will not reach out to you about investment opportunities with crypto.
- Never click links or attachments in unexpected texts, emails, or social media messages.
- Do not pay individuals who demand cryptocurrency from you, regardless of how they try to incentivize or scare you.
- If a job demands payment via crypto prior to you starting, it is not a real job.
Report cryptocurrency scams and related suspicious activity to:
- The Federal Trade Commission (FTC)
- The Commodity Futures Trading Commission (CFTC)
- The U.S. Securities and Exchange Commission (SEC)
- The Internet Crime Complaint Center (IC3)
- The cryptocurrency exchange company you used to send the money
Source: Federal Trade Commission