Bitcoin scams have surged alongside the rising price of bitcoin, now worth around $60,000. According to an FTC report, roughly $2 out of every $3 lost in a scam involving a bitcoin ATM belonged to someone near or over retirement age.
Scammers employ various tactics to deceive victims, often involving impersonation and creating a sense of urgency.
Marilyn LoCascio, a 76-year-old Indiana resident, lost $31,500 to a fraud group posing as Apple tech support, bank representatives, and government officials.
Scammers often obtain victims' phone numbers and personal information from the dark web, the hidden part of the internet used for illegal activities.
Bitcoin ATM operators claim to have measures in place to prevent fraud, but instances still occur.
Scams involving bitcoin can have devastating financial consequences for victims, especially the elderly.
Ask anything...