scammers creating fake cryptocurrency websites | News Radio 1190 KEX


The Oregon Division This Is Financial Regulation (DFR), recommends that cryptocurrency investors do their research prior to transferring funds to any cryptocurrency trading platforms.

Many To Fake cryptocurrency exchange websites or apps created by scam investors are used to create a false impression of investors. Investors You You will receive high profits and rapid growth of your account balances. HoweverYou will not be able to withdraw funds unless you deposit more money. “withdrawal fees” Or “taxes”. The The The scammer will continue to collect these funds until an investor becomes suspicious. After This The account is emptied, and the scammers can disappear with investor money. Before To To ensure money is not transferred to a cryptocurrency trading app or website, it is vital to investigate the company name as well as its address.

Scammers They They will also search for opportunities to revictimize victims who are already hurt and looking to recover their losses. For One One example of this scam is the one involving a website that claimed to belong in the United States. State Department It claimed it was working with FTX clients to recover assets in the wake FTX’s fall (see more details about FTX’s fall). The Website The investor required username and password to FTX as well as other account details. The United States Department This Is State This Website was not created by me. Be Be If someone contacts you asking for passwords and usernames to their accounts, it’s most likely fraud.

“The cryptocurrency trading market is fluid and full of people trying to take advantage of you,” TK KeenDFR administrator. We’ve I’ve Although it has been said before it is still true, even though it may sound unbelievable. We Encourage Everyone should do their research, make wise investments, and be vigilant about protecting usernames, passwords, and other sensitive data.

According To The North American Securities Managers AssociationThere There are many common scams that con artists use to promote new products or invest. Some These These are just a few:

  • Fake Digital Wallets – A digital wallet is used to store, send, and receive cryptocurrency. Scammers To Incentives to users to give their keys or code that unlocks the wallet are used to create a fake digital wallet. Once Once Once the private key has been obtained, scammers can gain access to the owner’s digital wallet and steal all cryptocurrency.
  • Pump-and-dumps: Groups Many To increase demand, people come together to buy small-traded cryptos and promote them on social media. ThenThey sell it in an organized transaction. The The People are left with the currency that is devalued when the price of cryptocurrency drops.
  • Multi-Level Marketing Platforms: Companies Investors Attractiveness of high interest rates and low risk is what draws them in. These The Investors receive incentives to recruit more members.

“A lot of these seem obvious after the fact, but there’s a lot in this industry that looks and sounds legitimate,” Keen said. “UnfortunatelyYou You should be aware that many people are interested in making money from crypto. If If you feel you have been victim to a cryptocurrency-related scam, you can file a complaint with us.

For For You can find more information at the DFR website about how to file complaints.

Fountain: Oregon Division This Is Financial Regulation

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