In one case, a 61-year-old Denver woman lost about $1.3 million in a Tether investment fraud scheme, according to an“Investigators out of the Denver office are seeing an emerging trend in which mature adults are caught up in crypto investment scams, especially involving Tether and USD Coin,” the release said.Internet Crime Complaint Center
. Coloradans age 60 and older lost more money to scams than any other age group, according to the release. Common scams unfold when the victim is approached on a social media platform, dating app or discussion forum with a cryptocurrency investment opportunity; and the victim is directed to a link or phone number to set up the investment account, the FBI said. As part of the scam, “the link or phone number is controlled by the fraudster, who has set up a fictitious support site. Once the victim transfers the funds, the fraudster disappears with the money.
Nationwide since 2021, $575 million of all crypto fraud losses reported to the Federal Trade Commission were about bogus investment opportunities, the news release said. More than 46,000 people have reported losing over $1 billion in crypto scams. Reported losses in 2021 were nearly 60 times what they were in 2018.
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