MIAMI (CBSMiami) – Thousands and thousands of traders have jumped into cryptocurrencies like Bitcoin, and rip-off artists try to capitalize on all the thrill.
Brandon Larsen just lately downloaded an app he thought was associated to the web site he makes use of for trades. However the app was a pretend, and all the cash he put in vanished. Larsen misplaced $384,006.
“I’ve shed numerous tears, I’m not gonna lie,” he mentioned.
Christopher Leach with the Federal Commerce Fee mentioned all these scams have skyrocketed and People have misplaced greater than $80 million in cryptocurrency scams between October 2020 and March 2021, a 1,000% improve from the earlier 12 months.
There are a number of completely different scams on the market, together with one the place con artists place pretend 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 whenever 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, in the event you give me some cryptocurrency you may be entered right into a drawing to win an entire lot extra cryptocurrency,” Leach mentioned.
Larsen mentioned you need to watch out who you belief, however he’s nonetheless going to commerce.
“There’s nonetheless an incredible alternative to make cash in crypto, and I’m nonetheless going to benefit from that,” he mentioned.
Larsen reported his large loss to authorities, however since crypto-crimes are sometimes untraceable, he doesn’t count on to see that cash once more.