MIAMI (CBSMiami) – Hundreds of thousands of traders have jumped into cryptocurrencies like Bitcoin, and rip-off artists are attempting to capitalize on all the excitement.
Brandon Larsen not too long ago downloaded an app he thought was associated to the web site he makes use of for trades. However the app was a faux, and all the cash he put in vanished. Larsen misplaced $384,006.
“I’ve shed loads of tears, I’m not gonna lie,” he mentioned.
Christopher Leach with the Federal Commerce Fee mentioned these kind of scams have skyrocketed and People have misplaced greater than $80 million in cryptocurrency scams between October 2020 and March 2021, a 1,000% enhance from the earlier yr.
There are a number of totally different scams on the market, together with one the place con artists place faux adverts on-line promising to triple your funding.
“However it requires you to offer them your cryptocurrency. Usually what occurs is that – poof – the cryptocurrency is gone while you attempt to take away it from the funding fund,” mentioned Leach.
Scammers additionally ship emails posing as celebrities, together with well-known crypto-investor Elon Musk.
“And saying, should you give me some cryptocurrency you will be entered right into a drawing to win a complete lot extra cryptocurrency,” Leach mentioned.
Larsen mentioned you must watch out who you belief, however he’s nonetheless going to commerce.
“There’s nonetheless an incredible alternative to earn a living in crypto, and I’m nonetheless going to make the most of that,” he mentioned.
Larsen reported his huge loss to authorities, however since crypto-crimes are sometimes untraceable, he doesn’t count on to see that cash once more.