Too Good to Be True: How a Crypto Investment Scam Works

Reported investment fraud cost Americans $4.57 billion in 2023—the most money of any cybercrime committed that year and an increase of 38 percent from 2022, according to the latest Internet Crime Compliant Center (IC3) annual report.

“Within these numbers, investment fraud with a reference to cryptocurrency rose from $2.57 billion in 2022 to $3.96 billion in 2023, an increase of 53 percent,” the IC3 explained. “These scams are designed to entice those targeted with the promise of lucrative returns on their investments.”

But what exactly is a cryptocurrency investment scam? And what are some red flags to alert you that this investment deal might just be too good to be true?

Learn more by watching the video below.