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The scammers typically cold-call people who provide the details, urging them to invest larger sums, per the report. ... Bitcoin Scam Using Unauthorized Celebrity Images in Ads Traced to Moscow ...
Fraudsters are using ads featuring a fake Jeremy Clarkson endorsement as part of a Bitcoin scam. Watchdogs are warning social media users about the ads, which urge people to invest in cryptocurrency.
This scam relies on hyping a coin and getting more people to buy into it. As the price rises, insiders sell out of the coin, dumping it on the public and traders are left with worthless coins.
In 2023, consumers reported $114 million in losses from scams involving BTMs — a nearly 900% increase over the preceding three years, the FTC said Tuesday in a report. Losses through June of ...
Mirror Trading International (MTI), declared a pyramid scheme by the South African High Court, was a cryptocurrency trading platform promising automated trading services with significant returns. [1] MTI was masterminded by Johann Steynberg, who claimed to use an artificial intelligence bot for its trading activities. [2]
As the scam unraveled, investors were left with substantial losses, while the developers of Squid Coin disappeared from the public eye, taking an estimated $3.38 million with them. [3] [12] The project's website, which had previously been active, disappeared along with its social media accounts, further erasing any trace of its existence. [13]
Credit - Michael M. Santiago—Getty Images. A new report from the Federal Trade Commission (FTC) shows that money lost to fraudulent bitcoin ATM scammers increased nearly tenfold between 2020 and ...
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