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Cryptocurrency scams are riskier than romance and investment fraud

Image by WorldSpectrum from Pixabay

Thu, 12 Mar 2020, 15:27 pm UTC

Crypto scams pose more risks than fraud involving romance and investment.

Better Business Bureau (BBB) has released a new report titled “New Risks and Emerging Technologies: 2019 BBB Scam Tracker Risk Report.” According to BBB employment scams top the 10 Riskiest Scams in 2019.

The report noted that the biggest change from 2018 to 2019 is the appearance of cryptocurrency scams for the first time which ranks second on the list with BBB risk index of 93.8. The crypto scam resulted in a median dollar loss of $3,000 in 2019 from only $900 in 2018. It also showed an increase in exposure from 0.3% in 2018 to 0.7% in 2019.

Crypto scams refer to purchases, trades or storage of digital assets known as cryptocurrencies that involve fraudulent initial coin offerings (ICOs), a type of fundraising mechanism in which a company issues its own cryptocurrency to raise capital. Investors are lured into paying money or trading their own digital assets but the scammer has no intention of building a company. Crypto scams also involve situations when investors store cryptocurrencies with fraudulent exchanges.

According to the report, consumers’ lack of understanding about digital assets gives scammers the opportunity to take advantage of them by convincing them that they will make significant returns on an “investment.” Also, some scams have occurred because consumers purchased, stored, or traded cryptocurrencies on an exchange site that was vulnerable to hackers.

“Unlike money stored in a traditional bank account, which is insured against theft, digital assets such as cryptocurrency cannot be retrieved and transactions cannot be reversed in the case of theft or cyber hacking,” the report added.

The report shows that crypto scam is riskier than fraud involving romance and investment. Romance scam has a BBB risk index of 64.3, investment has 58.7, and fake payment has 72.7.

Meanwhile, Coinbase CEO Brian Armstrong said that the crypto market can expand up to 5 billion users. However, this might not happen soon as the current crypto users haven’t reached 1 billion yet.

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  • Ashley
  • 2020.08.08 12:08:49
After putting a large amount on my account, I’ve watched how my balance would go higher and higher. And , of course, seeing this “proof” of how I’m good at it, my manager James made me invest more over 50000 Euro. After a couple weeks of such magnificent trading, my account ended up over 340000Euro. An excellent opportunity to file a withdraw, no? No!! They released only 1500 in order to trick me invest more 100000. I didn’t have such money at the moment and I was put on hold....Weeks after nobody would even answer my calls or my emails. It became very clear, that I’ve become a victim of a huge and shameless scam. Time passed by and I was growing disappointed and very angry with my own naiveness. i found it very hard to move on . Luckily I came across a comment on a recovery website that recommended a funds recovery expert on binary/forex, bitcoin investment recovery, in the person of Mr Walter Thompson , and i contacted him immediately through his email address and explained my issues with my investment broker to him ,God so kind, him and his team worked relentlessly to recover my funds, and was able to build a case on the scam broker with the information I provided about my trading experience and my funds refunded back to me within a week interval, i was able to get access to my funds back with his help, I still can't believe how possible it is to get my invested capital back, including my bonus with the company. I know some people must have been a victim of any scam investment broker. I feel obligated to recommend him and his great funds recovery strategy, feel free to reach out to him if you having issues withdrawing your funds, via his email address: [email protected] and he will guide you on steps to take and get your invested capital including your bonus refunded back to you.
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  • Derek
  • 2020.08.04 17:27:09
It is not crypto or precious metals. Unless we go to a mad max scenario, Precious metals are not taking off. Crypto wants to be once mass adopted. Lightning network wants to kick off, and millions of transactions per second wants to make look like a piece of shit. Start thinking people and stop listening to the mainstream media and DYOR. Start looking at the world's economy and look where it's headed. Crypto is the future and with trading experts sending me daily signals i make consistent and secure profit daily. If you need to start making money off crypto you can seek for Agent Shelley assistance on WhatsApp: +14062294906, email [email protected]com for her assistance on all crypto related issues.
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  • Derek
  • 2020.08.04 17:26:45
It is not crypto or precious metals. Unless we go to a mad max scenario, Precious metals are not taking off. Crypto wants to be once mass adopted. Lightning network wants to kick off, and millions of transactions per second wants to make look like a piece of shit. Start thinking people and stop listening to the mainstream media and DYOR. Start looking at the world's economy and look where it's headed. Crypto is the future and with trading experts sending me daily signals i make consistent and secure profit daily. If you need to start making money off crypto you can seek for Agent Shelley assistance on WhatsApp: +14062294906, email [email protected] for her assistance on all crypto related issues.
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  • Camilla
  • 2020.08.02 23:40:58
If your’e facing some challenges of withdrawals or your broker manager is always asking you to make more deposit before you could place a withdrawals from your funds or you traded and lost your funds without any reason or maybe you noticed that your broker manager manipulated your funds you can report to one of the recovery Agent Mr Brian who make use of software to get money back. They are recovery experts and they are professionals . Kindly contact him via his email address [email protected] . and they will guide you on the steps to take to recover all your lost funds
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  • Alfredgraham
  • 2020.07.18 11:11:36
Comment deleted by user
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  • Alfredgraham
  • 2020.07.18 11:10:18
A fraudulent broker almost made away with my money but the recovery agent Mr Bart kasch got it back like he said he would. He is the best i have ever worked with and thanks to him i have my $80600 back in my account, you can reach him at Bartkasch @ Affiliaterecovery .com if you need help
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  • Josh
  • 2020.07.11 10:38:29
hoopergroup tech is a fraud recovery website. was unable to get my invoice or my refund from the website. once they collect there advance payment. they stopped replying back. beware from such people.
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  • Josh
  • 2020.07.11 10:34:50
Recovery website called hoopergroup.tech is a complete SCAM; beware of these fake messages you see in posts. if you are not sure. ask them for invoice for your payments or refund later and they not able to provide any of these services.
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  • stephcoet46
  • 2020.06.30 07:07:20
Anyone can fall into the wrong hands and lose their money. Most times, what these brokers propose are always too good to reject but the only thing to do after loosing your money is to find ways to get it back and that was exactly what i did. It was a very bumpy as i lost more money but i eventually achieved my aim and it was only possible because i decided to take a leap of faith and send a mail [email protected] hoopergroup .tech
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  • stephcoet46
  • 2020.06.30 07:07:04
Anyone can fall into the wrong hands and lose their money. Most times, what these brokers propose are always too good to reject but the only thing to do after loosing your money is to find ways to get it back and that was exactly what i did. It was a very bumpy as i lost more money but i eventually achieved my aim and it was only possible because i decided to take a leap of faith and send a mail [email protected] hoopergroup .tech
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  • Henryqui
  • 2020.06.21 06:26:42
The basic truth about binary investment is the same old story, knowledge is key and information is power, those will never get old, I’m not the type that will get conned and when that happens I don’t go down without a fight, this time though, they almost did get away with, thanks to {boltonrefunders at gmail dot com} for their intervention in getting me out of this mess of an investment. I’ve had several professionals help me in situation but this was a new challenge, I gave them what was necessary and they worked quite quickly, best part is how they don’t require upfront payment or deposits to help, I’m just glad I got my money fully refunded, You can also reach them via call or whatsapp +14253121045
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  • Theresa
  • 2020.06.11 13:11:01
if you ever need to track your lost or stolen investements or crypto currencies then send a mail request to ellencole028 at g mail d0t c0m
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  • Ha335
  • 2020.06.03 19:30:40
Not Everyone has an access to a Tor /onion link that leads directly to the Dark web
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  • Ha335
  • 2020.06.03 19:29:50
Not Everyone has an access to a Tor /onion link that leads directly to the Dark web
where you can find Legit private investigator services. someone who can hack,
Trace and guide you in recovering what you have lost to a scam, be it investment, romance e.t.c.
Happy to share my experience and guide anyone going through same. He helps people who have been ripped off by gaining access into the trader's account, withdrawing your funds and crediting you. Robin Hood if you may, only in this case they take back whats been stolen and hand it back to the rightful o
owner
Telegram cryptedc4
Cryptedc4 at gmail . com
You can contact him on WhatsApp too
+1.2.0.8.9.4.4.2.2.3.7
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  • Ha335
  • 2020.06.03 19:29:30
Not Everyone has an access to a Tor /onion link that leads directly to the Dark web
where you can find Legit private investigator services. someone who can hack,
Trace and guide you in recovering what you have lost to a scam, be it investment, romance e.t.c.
Happy to share my experience and guide anyone going through same. He helps people who have been ripped off by gaining access into the trader's account, withdrawing your funds and crediting you. Robin Hood if you may, only in this case they take back whats been stolen and hand it back to the rightful o
owner
Telegram cryptedc4
Cryptedc4 at gmail . com
You can contact him on WhatsApp too
+1.2.0.8.9.4.4.2.2.3.7
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  • caban
  • 2020.05.18 14:38:16
Please beware there are many fake cryptocurrrency investment platforms out there, I got scammed twice before I met a genius hacker who helped retrieve my bitcoin. The whole plan was so smooth I could not doubt it. Bitcoin is actually a great investment option but one thing I discovered over time is that it is not possible to mine bitcoin so don’t be deceived. I invested 15BTC on a particular website called FoxBtc.io, I monitored the profit yielding but got locked out of the account before I could withdraw. I went online and met this recovery expert recoverywealthnow360 on google mail who helped me retrieve my bitcoins back in few hours. He saved my life , he can save yours.
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  • Mike
  • 2020.05.15 16:37:31
Wolfpackhackers , com  provides recovery services in binary options, forex, cryptocurrencies, international financial fraud and more. They recovered $27500 for me recently and i am so grateful for this. Using the most advanced investigative techniques, The organization has recovered millions of dollars for victims of Binary Options fraud. You can google wolfhackers for help and more information..You can also reach them via
Mail; admin AT wolfpackhackers DOT com
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  • gismat576
  • 2020.05.13 04:28:33
Investment fraud is growing hugely and I advice the public to stay away from this fraudulent companies. For those who are victims to this scams like myself, I strongly recommend you to approach a recovery agent. I invested $270000 and was unable to get my hard earn money back from an unregulated company that keep demanding for more deposits. Wealth Recovery has successfully recovered investment for their clients. I have hired them as well and they did not disappoint, they recovered all of my money.
You can reach them on : info AT scamsrescue DOT com
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  • Moses
  • 2020.05.12 16:47:34
I am a cryptocurrency trader and i make over 200% daily, If you are interested,i can teach you how to trade and also help you achieve your goal in life with crypto i can turn
$4500 into $35000 in less then four weeks,now that bitcoin has low prices...please note that cryptocurrency trading is bitcoin unlike binary and Forex,bitcoin is traded for altcoins also you can reach to me if you are new to bitcoin and to give you more info and guideline on how to invest smartly, this is opportunity life time knocking on your door inbox me for more info....contact me on whatsapp :+12067425358 happy new year to you all .
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  • Johnny
  • 2020.05.09 22:15:55
I rarely share my story with people online and those I don't know, not only because it put me at the lowest point ever but because it made me a person of ridicule among family and some of my friends. I put all I had into Binary Options ($190,000) after hearing great testimonies about this new investment strategy. I was made to believe my investment would be triple, it started good and I got returns (not up to what I had invested). Gathered more and involved a couple family members, but I didn't know I was setting myself up for the kill, in less than no time all we had put ($420,000) was gone. It almost seem I had set them up, they came at me strong and hard. After searching and looking for how to make those scums pay back, I got introduced to Mr Chris a recovery agent who helped recover about 80% of my lost funds within a month and I was very happy so catch him up for your lost funds with Email address: Bitcoinretrieval2018 gmail com
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  • Johnny
  • 2020.05.09 22:15:04
I rarely share my story with people online and those I don't know, not only because it put me at the lowest point ever but because it made me a person of ridicule among family and some of my friends. I put all I had into Binary Options ($190,000) after hearing great testimonies about this new investment strategy. I was made to believe my investment would be triple, it started good and I got returns (not up to what I had invested). Gathered more and involved a couple family members, but I didn't know I was setting myself up for the kill, in less than no time all we had put ($420,000) was gone. It almost seem I had set them up, they came at me strong and hard. After searching and looking for how to make those scums pay back, I got introduced to Mr Chris a recovery agent who helped recover about 80% of my lost funds within a month and I was very happy so catch him up for your lost funds with Email address: Bitcoinretrieval2018 gmail com / WhatsApp: +1 (347)201-0316
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  • Paul1010
  • 2020.04.19 23:42:04
Comment deleted by user
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  • Paul1010
  • 2020.04.19 23:41:51
Statics shows that one in every online user or trader come in contact with fraudsters and scam brokers when surfing and trading online and sometimes they fall victims to this scammer who take their funds and leave them in a financial mess...if you have ever been a victim online cyber scam such as
(a)binary scam (b)dating and romance scam (c)real estate and property scam
You can get professional assistance with the help of assetrefundnow.com..A recovery firm dedicated to using legal procedures to help our clients get their lost funds back and also educating investors and users on cyber crime
Visit our website Assetrecoverynow.com and also on telegram https://t.me/joinchat/MnTNlhBceW3PrzkfrsghRw for more inquiries
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  • nishu
  • 2020.04.17 05:50:15
Thanks for sharing this valuable content looking forward for more updates on
<a href="https://www.firstoptionrecovery.com/cryptocurrency-scams">cryptocurrency scams</a>
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  • Wavefinance
  • 2020.04.03 03:33:01
According to Wave Financial Services analyst, “Online scams are a worldwide catastrophe there are thousands of innocent victims that lost all of their money by scammers using false promises and fake identities, Victims all around the world should know that they are not alone, take a stand and help us fight back, we at Wave Financial Services know how to recover lost funds and we have assisted many scam victims all over the world to get their money back. No matter how complex you think your situation is, we have a solution for you.”Reach us on wavefinancialservices at protonmail,com
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  • gismat576
  • 2020.03.16 09:18:59
Are you a victim of the following ;
Binary option, Forex trading, Romance, ICO Scams, Online betting, Bitcoin, Phishing, exchange scams etc
If in any case you have lost your hard earned money. Dont give up, I have a good news for you. Scams Rescue is currently recovering funds for all victims. Service delivery is second to none. I obliged myself the priviledge to announce this to everyone. Hurry and contact on; info at scamsrescue dot com
Thank me later.
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  • rachelm01
  • 2020.03.13 10:26:02
Good advice to anyone, stay far away from these companies. All these binary options, trading and cryptocurrency companies are scams, I lost a huge amount of money. Things have turned out good for me, being that I was able to recover my money thanks to a recovery pro. You can reach me if you're interested in finding out how I recovered everything I lost. Rachelmillr4 {at} gmail dot com
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More
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