**Beware of Crypto Scams: Old Tricks, New Currency** Cryptocurrency scams are on the rise, but the tactics used are often the same as those used in traditional investment scams. Here are some common red flags to watch out for: * **Unexpected contact:** Scammers may reach out via text, email, or phone call offering unsolicited investment opportunities. * **Cryptocurrency-centric investments:** Scams may involve investing in digital assets or using cryptocurrency as a form of payment. * **Promises of huge gains:** Scammers entice victims with promises of unrealistic returns. * **Impersonation:** Fraudsters may pose as trusted individuals or organizations to gain credibility. Recent data from the FTC shows that nearly 7,000 people have reported losses of over $80 million in bogus cryptocurrency investments since October 2020. Some notable crypto scams include OneCoin, BitConnect, and Bitclub, which resulted in billions of dollars in losses. To protect yourself from these scams, be wary of unsolicited investment offers, do research before investing, and never share your private keys or passwords with anyone. Remember, if it sounds too good to be true, it probably is.
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