“Social media is a tool for scammers in investment scams, particularly those involving bogus cryptocurrency investments — an area that has seen a massive surge in reports,” said the FTC.The U.S. Federal Trade Commission published a “Consumer Protection Data Spotlight” last week, warning the public about scams, including crypto investment scams, utilizing social media.
“More than 95,000 people reported about $770 million in losses to fraud initiated on social media platforms in 2021,” FTC’s program analyst Emma Fletcher wrote. “Those losses account for about 25% of all reported losses to fraud in 2021 and represent a stunning eighteenfold increase over 2017 reported losses.” She added:
“More than half of people who reported losses to investment scams in 2021 said the scam started on social media,” the FTC analyst continued. “Reports to the FTC show scammers use social media platforms to promote bogus investment opportunities, and even to connect with people directly as supposed friends to encourage them to invest. People send money, often cryptocurrency, on promises of huge returns, but end up empty handed.
Scammers scam those who want to be scammed. We need to learn how to increase money on our own
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People get scammed cause they don't want to learn they want to make quick money. I always recommend education and before you put your money. Some will say they understand but they don't want to take responsibility for their own money they want to give it to someone else.
They see scams everywhere...
This space is so rife with fraud it's hard to tell what is legitimate. The scams are elaborate too.
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Fiat is a scam. . .any warnings on that?
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Tbf social media is a meta scam in itself
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Charts: China has only met 60% of its commitment in Trump's trade dealCharts: China promised Trump it would buy an additional $200 billion worth of US exports — but only met 60% of the trade deal target Don’t trust anything you say Another failed trump deal. Shocker 美国根本不需要贸易。目的是自2020年1月起刘鹤在中国有和Trump一样的权力需要承担中国政府的所有责任。不管是不是签署了第一阶段贸易协议，对签署协议的新闻纵容，是叛国的证据。 如同杨洁篪和王毅在阿拉斯加会晤Blinken的新闻，不管新闻是否是真实的，是他们两人叛国证据。
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