Crypto Scams Target Colorado Residents: FBI Report Shows $4M Lost

Crypto Scams Target Colorado Residents: FBI Report Shows $4M Lost

• The FBI has released a report showing that Colorado residents have been targeted by crypto scammers.
• Millions of dollars have been stolen from crypto traders and everyday citizens in the form of Tether and USD Coin (USDC).
• Scammers set up phony websites to lure victims into investing more money than they initially planned, resulting in them losing their investments.

FBI Report Shows Colorado Residents Getting Duped By Crypto Scams

The Federal Bureau of Investigation (FBI) has revealed that millions of dollars have been stolen from Colorado residents due to crypto scams. According to their report, stable assets such as Tether and USD Coin (USDC) were used in most of the schemes.

Common Scenario Involving Social Media Platforms

The common scenario involves a victim being approached on a social media platform, dating app or discussion forum with an attractive cryptocurrency investment opportunity. After being directed to a link or phone number to setup the account, they are then taken to a fraudulent website controlled by the fraudster who takes the money and disappears with it.

Victim Examples From the FBI Report

The FBI gave five recent examples of Colorado residents being scammed out of their funds: a 52-year-old man lost over $600K; a 61-year-old woman lost about $1.3 million; a 62-year-old man lost $350K; and two people in their late 40s lost over $1.2 million between them.

How are Victims Being Targeted?

Victims are typically contacted by someone posing as an investment manager who tells them about new investment opportunities that they should not miss out on. They direct them towards fake websites where investors can see profits rising and portfolios appearing promising, resulting in them investing money and seeing returns. However, when they try to make withdrawals afterwards they find that this is not possible unless further investments are made – which will result in all funds being taken away from the victim for good.

Final Advice From The FBI

The advice given by the FBI is clear: “If you send [crypto or money] it’ll be gone, and you typically won’t get it back” – so if something seems too good to be true then it probably is!