4 dangerous cryptocurrency scams the FBI wants you to watch out for – Komando

Are you investing in cryptocurrency? Its a decentralized form of digital money that has made quite a few people rich overnight. Thats also why its a perfect cover for cybercrime and online scams.

Fraud involving cryptocurrency is incredibly common. In fact, cryptocurrency scams were the reason that some of the most famous Twitter accounts in the world got hijacked. Tap or click here to see one of the biggest and strangest hacks in history.

And with cybercrime at an all-time high, crypto scams are also on the rise. Thats why the FBI is issuing an urgent warning to Americans about threats posed by crypto scammers during the COVID-19 pandemic. If you want to avoid getting fleeced, heres what you need to watch out for.

The FBI has issued a warning bulletin about several common cryptocurrency scams that have emerged during the COVID-19 pandemic. At a time when many people are already struggling financially, these scams have the potential to wreak havoc on unsuspecting bank accounts.

Based on the FBIs findings, there are four main types of crypto scams circulating. Heres how they work, and what you can expect to see and hear when you encounter the cybercriminals behind them:

Learn the tech tips and tricks only the pros know.

Blackmail scams: If youve ever received a sextortion email, you already know what this is like. Scammers are emailing victims with threats about access to personal information or dirty secrets. In exchange for keeping these secrets under wraps, the scammers demand a Bitcoin ransom. Some scammers even go as far as threatening you and your family with COVID-19 itself.

Tap or click here for an in-depth look at this crazy scam.

Work from home scams: Scammers will pose as employers looking to hire workers for financial activities. What theyre really doing, however, is using your bank account as a mule for stolen money. The scammer will ask you to accept a donation of funds as part of your job, and if you do, youre now a de facto accomplice in their crime.

Tap or click here to see how these work from home scams can land you in jail.

Fake COVID-19 treatment scams: Scammers are attracting online shoppers with enticing offers of products and equipment they claim can cure or prevent COVID-19. But theres a catch: You have to pay in cryptocurrency. If you make the payment, the products never arrive and your money is good as gone.

Tap or click here to see how to spot websites selling fake COVID-19 treatments.

Investment scams: Scammers are pitching fraudulent investments in unknown kinds of cryptocurrencies to trick victims into sending them money. Cryptocurrencies rise and fall in popularity, and jumping on to a new brand of crypto can potentially net you a good chunk of change if youre lucky. But the new crypto they promise is fake, and the scammers run off with your money.

There are plenty of real websites, investments and charities that do use cryptocurrency. But if any of them follow the formats mentioned above or pressure you into using crypto over regular money, consider it a major red flag.

The FBI suggests following these tips below to keep yourself safe from fraud:

If you get a threatening or suspicious email discussing cryptocurrency, delete it immediately. Do the same thing with suspicious text messages, and avoid picking up the phone for calls you dont recognize. Phone scams are another huge threat targeting Americans during the COVID-19 pandemic.Tap or click to see why its happening.

If youd like to report a suspected cryptocurrency crime, or if youve been victimized by fraud, the FBIs Criminal Investigative Division has an entire team dedicated to cryptocurrency money laundering and frauds. Contact your local FBI field officeor visit the FBIs Internet Crime Complaint Center atic3.gov.

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Learn the tech tips and tricks only the pros know.

Scammers may switch up their tactics every so often, but theyre only effective if theyre able to trick you. If you ignore and report them, they wont be a problem at all.

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4 dangerous cryptocurrency scams the FBI wants you to watch out for - Komando