Fraud Alerts/PSAs
July 12, 2019: Criminals Promise Outrageous Profit in Bitcoin Investment Scam
Investors should beware of bitcoin peddlers who offer big discounts and guarantee huge returns.
In the Bitcoin Investment Scam, criminals capitalize on the buzz surrounding cryptocurrency to lure their victims through advertisements, websites and marketing emails. The scammers appear to run legitimate companies or pose as traders willing to sell bitcoin at a discounted price.
But in the end, they never provide investors with the bitcoins or the profits.
TIPS:
- Stick with well-known and popular exchanges.
- Consider using a bitcoin ATM or going to a cryptocurrency lounge.
- Don’t feel pressured to deposit funds or provide any personal information.
The U.S. Securities and Exchange Commission provides further guidance on investing in cryptocurrency here.
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