Don’t Get Scammed, Here Are Signs Of Cryptocurrency Scams

If you’ve been getting calls about cryptocurrency scams, you’re not alone. News On 6 anchor Lori Fulbright is sounding the alarm and sharing what you need to know to avoid getting scammed this year.

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Lori says she’s been hearing from all kinds of viewers about these shady schemes, and she’s worried people are losing their hard-earned cash.

In fact, she says one guy put his entire life savings into a crypto account, and now he can’t get it back out.

Scammers Posing as Investment Managers

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According to Lori, the scammers have a few tricks up their sleeves. One of the most common is pretending to be investment managers who promise sky-high returns.

“They’re going to do one of two things, close it down and take all your money, or they’re going to tell you, if you want your money back, pay us big fees and be big taxes, all the scam,” Lori said.

Fake Celebrity Endorsements and Romantic Approaches

But that’s not all. Lori says the scammers will also try to reel you in by claiming to be celebrities or even professing their love for you.

“Same with the people who say, ‘I’m in love with you. I like you, and hey, I’m an investment person, and I could really grow you some money.’ All that money is going to be gone and you can’t get it back,” Lori warned.

Government Agencies Unable to Help

The worst part? Lori says the feds can’t do much to help if you get scammed, since these crooks are usually based overseas.

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“The FBI Homeland Security, the federal government, they can’t help you, because all these scammers are overseas,” Lori said.

Identifying Scams: Red Flags to Watch Out For

So how can you spot a crypto scam a mile away? Lori says to be wary of any promises of big returns with no risk, or claims of being a celebrity or investment guru.

“If they promise big, big returns and no risk, you know that’s a scam. If they say we’ll protect your money in our account from whatever threats are out there, that’s a scam,” Lori said.

Spreading Awareness and Protecting Loved Ones

Lori’s advice? Talk to your friends and family, young and old, and spread the word about these shady schemes. That way, we can all keep our hard-earned cash where it belongs – in our own pockets.

“Talk to all your loved ones, young and old, about this scam,” Lori said.