Trading cryptocurrency has become quite popular among daily traders. This is beneficial in the sense that the cryptocurrency field is now receiving the mainstream attention it so well crime, and one particular fraud has become all too familiar.
How this woman was lured into a scam trap
According to the Federal Bureau of Investigation (FBI), Americans lost more than $1 billion in 2021 due to crypto-related frauds. One of the victims, Natasha Reyna, recently detailed a circumstance in which she was scammed online by someone posing as one of her best friends in an interview.
Reyna claims she received the message from one of her friends. The message instructed her to invest $200 in cryptocurrency and that she would witness immediate returns – a significant red flag for most seasoned traders.
Reyna, on the other hand, thought the circumstances sounded good, saying:
“As a result, I’m like I could pay my payments and pay off my automobile.”
Never-ending stories of crypto scams
This is when she decided to contact the BBB and explain the situation. They informed her that she was the latest victim of a typical fraud. In a statement, Caitlin Driscoll, a bureau official, stated:
Last year, cryptocurrency frauds were ranked as the second most dangerous scam, up from number seven the year before.
Scams like these, according to the Better Business Bureau (BBB), have tripled in popularity in recent years. To avoid appearing suspicious, the scammer asks for tiny sums of money. However, requesting money from a large number of people usually results in multiple payments and a large lump sum payment at the end.
How to recover your money?
If you’ve been the victim of fraud, identity theft, or deceptive business practices, registering a consumer complaint with the FTC could help you recover money from a con artist.
File a police report at your local police station, bringing all of the proof you have of the crime with you. Request that your accounts be canceled or that your account numbers be changed by contacting your creditors.
Check your credit reports for accuracy by ordering them and reading them. Activate a fraud alert on your credit reports.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.