Federal WARNING Issued – People Losing Millions!
(WatchDogReport.org) – Once upon a time, a new and mysterious way to invest one’s money appeared known as Bitcoin, and the term cryptocurrency came into being. The market price of a bitcoin is extremely volatile; for example, it had a value of roughly $67,000 in November 2021, but since July 21, 2022, it has been trading in the range of $22,000-$23,000. Price fluctuations aren’t the only issue, though.
People who prefer to make their money by stealing it from others have managed to abuse America’s love for using their phones for everything including online banking and investing. According to a warning posted by the cyber division of the FBI, criminals have been “convincing investors to download fraudulent mobile apps” to separate the unwary from their virtual coins.
The FBI says they have identified 244 victims who have lost almost $43 million to scammers. The agency recommends that those who invest in the crypto markets beware of requests to download apps that come out of the blue and check with the company supposedly behind the app to make sure its legit.
The #FBI warns financial institutions and investors about cybercriminals creating fraudulent cryptocurrency investment applications to defraud cryptocurrency investors. This scheme has resulted in an estimated $42.7 million in losses to date. Read more at https://t.co/ClCBP5uwAw. pic.twitter.com/Ro9GfIzT8n
— FBI (@FBI) July 20, 2022
If someone believes they have been contacted by fake financial institutions or if they have fallen victim to them, they should report it to their local FBI field office. The more information they can supply, such as any names of people or companies involved or whether it was done through the mobile app, email, etc., the better.
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