FTC Warns Of Rising Crypto Romance Scams

FTC Warns Of Rising Crypto Romance Scams


Published Tuesday 11th June 2024

The U.S. Federal Trade Commission (FTC) has recently issued a warning about the increasing prevalence of cryptocurrency romance scams. These scams involve fraudsters posing as potential romantic partners who manipulate victims into investing in fake cryptocurrency schemes. The FTC is urging the public to exercise caution and be vigilant against such scams, emphasizing the importance of immediate reporting and raising awareness to prevent falling victim to these deceptive practices.

Cryptocurrency romance scams typically involve perpetrators exploiting emotions and trust to deceive individuals into sending them money or cryptocurrency. These scams often play on the victim's desire for companionship and promise high returns on investment in fake cryptocurrency ventures. The FTC advises individuals to be wary of unsolicited messages from strangers online, particularly those requesting money or cryptocurrency, and to verify the legitimacy of any investment opportunities before committing funds.

Crypto News & Headlines

Spot Ethereum ETFs Likely To Trade Starting July 2, Says Bloomberg Analyst


Bloomberg analyst Eric Balchunas predicts the launch of the highly anticipated spot Ethereum ETFs on July 2nd, following optimistic feedback from the

Trending on 15th June 2024 08:15 AM

Uniswap (UNI) Surges Past $10 With Potential To Hit $20


Uniswap's native cryptocurrency, UNI, has surged over 8%, trading above $10 amid broader market consolidation.

Trending on 15th June 2024 07:36 AM

Turkey Proposes New Crypto Tax Amid Ongoing Lira Struggles


Turkish lawmakers propose a 0.03% tax on crypto transactions to address the budget deficit caused by last year's earthquakes.

Trending on 14th June 2024 11:02 PM

Majority Of Central Banks Consider CBDCs, Reports BIS


The latest BIS report reveals that 94% of central banks are considering a CBDC, with a greater focus on wholesale CBDCs over retail ones within the ne

Trending on 14th June 2024 10:21 PM

Gemini Settles $50M Fraud Case With New York


New York Attorney General Letitia James secured a $50 million settlement from Gemini Trust to repay defrauded investors in its Gemini Earn program.

Trending on 14th June 2024 09:15 PM