Cryptocurrency scams rise in 2024, experts warn of continued threat

SCAMS. HERE’S NUMBER FOUR. CRYPTOCURRENCY. IT’S BECOME A FAVORITE TOOL FOR SCAMMERS BECAUSE THE MONEY THAT YOU SEND THEM CAN’T BE TRACED. AND THE GROWING USE OF CRYPTOCURRENCY HAS PLACED CRYPTO SCAMS IN THE NUMBER FOUR SPOT ON MY LIST OF TOP SCAMS FOR 2024, UP BY ONE SPOT FROM LAST YEAR. BAD GUYS ARE RUNNING A WHOLE BUNCH OF DIFFERENT SCAMS, BUT WHEN THEY START ASKING FOR PAYMENT IN SOME KIND OF CRYPTOCURRENCY, THAT’S A SURE SIGN OF A SCAM. THOSE CRYPTO ATM’S CROPPING UP IN CONVENIENCE STORES, GAS STATIONS AND BIG RETAILERS. THERE’S SOMETHING THE SCAMMERS ARE TRYING TO TAKE ADVANTAGE OF PRETENDING TO BE GOVERNMENT OFFICIALS, UTILITY AGENTS, OR SWEEPSTAKES REPRESENTATIVES. THEY’LL DIRECT YOU TO TRY TO PAY A FEE, A BILL OR A HANDLING CHARGE BY SENDING CRYPTOCURRENCY BOUGHT AT THESE ATMS TO AN UNTRACEABLE DIGITAL WALLET. AND ONCE YOU SEND THE MONEY, IT’S IRREVERSIBLE. THERE’S NO WAY YOU’RE GOING TO GET YOUR MONEY BACK. ACCORDING TO THE FEDERAL TRADE COMMISSION, NOBODY FROM GOVERNMENT, LAW ENFORCEMENT, A UTILITY COMPANY OR A CONTEST PROMOTER WILL EVER TELL YOU TO PAY THEM WITH CRYPTOCURRENCY. IF SOMEONE’S DOING THAT, IT’S A SCAM. EVERY TIME A STRICTER REGULATION OF CRYPTOCURRENCY HAS BEEN DISCUSSED IN WORLDWIDE FINANCIAL MARKETS. BUT THAT’S ALL IT’S BEEN. TALK. MEANWHILE, CONSUMERS LIKE YOU, YOU SHOULD BE AWARE, BE HIGHLY SUSPICIOUS OF ANYONE ASKING YOU TO TRANSFER MONEY USING CRYPTOCURRENCY.