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The FBI says crypto fraud cost Americans $5.6 billion a year. Here's how you can stay safe

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From phishing texts to 'pig butchering' romance scams, cryptocurrency fraud is on the rise. Here's how to spot scams before it's too late.
The FBI has reported that cryptocurrency fraud has cost Americans approximately $5.6 billion annually, with a significant increase in losses noted in recent years. According to the article on MSN, these scams often involve fraudulent investment schemes where victims are promised high returns on investments in cryptocurrencies. Common types of fraud include Ponzi schemes, fake initial coin offerings (ICOs), and romance scams where fraudsters build a relationship with victims before soliciting money for supposed crypto investments. To protect themselves, individuals are advised to be skeptical of unsolicited investment offers, verify the legitimacy of investment opportunities, use secure and reputable exchanges, enable two-factor authentication, and never share private keys or seed phrases. The FBI also encourages reporting any suspicious activities to help track and mitigate these fraudulent schemes.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/savingandinvesting/the-fbi-says-crypto-fraud-cost-americans-5-6-billion-a-year-here-s-how-you-can-stay-safe/ar-AA1yao93 ]