Crypto Scams: Is the Hype Fading or Just Evolving?
Download MP3In This Episode:
- 💥 Breakdown of the FTX crypto conglomerate collapse and what it means.
- 🚨 How scammers used the crypto hype—not actual investing—to trick victims.
- 📱 Common tactics: Scams via Facebook, Instagram, and other social media platforms promising to double your money.
- 🌍 Many scammers operate overseas and disappear after collecting funds.
- 💸 Real-life cases from victims who lost anywhere from a few thousand to hundreds of thousands of dollars.
- 🏠 One tragic case: A victim took a second mortgage and borrowed from relatives, only to be scammed out of everything.
- 🔍 Distinction between actual crypto platforms and scammers who just exploit the buzz.
- 🙏 Hope that the FTX collapse will serve as a wake-up call and slow down the spread of digital currency scams.
- 📩 Reminder: Even small amounts—$10K to $12K—can be everything someone has.
Takeaway:
Be cautious. If someone promises to double your money, especially online or through social media, it's likely a scam. The hype around digital currency is being used to exploit everyday people. Stay informed, and don’t fall victim.
Be cautious. If someone promises to double your money, especially online or through social media, it's likely a scam. The hype around digital currency is being used to exploit everyday people. Stay informed, and don’t fall victim.
