Home Bitcoin News Bitcoin Scam Price woman shares warning after losing hundreds in cryptocurrency scam – fox13now.com

Price woman shares warning after losing hundreds in cryptocurrency scam – fox13now.com

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Comments Off on Price woman shares warning after losing hundreds in cryptocurrency scam – fox13now.com
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PRICE, Utah — A Worth girl is sharing her story after she was scammed out of lots of of {dollars} in a cryptocurrency scheme.

READ: China declares all cryptocurrency transactions illegal, causing Bitcoin prices to fall

Crystal Racassi says a lady befriended her on Fb, and instructed her about a terrific alternative to spend money on Bitcoin.

“Fb truly was the way it began, a lady reached out to me, began speaking to me, it was like a friendship,” stated Racassi.

Crystal was instructed by an organization out of the UK to place $300 right into a cryptocurrency app, Coinbase. She did, after which despatched these funds to the corporate. Not solely did she by no means get again the preliminary funding, however she was requested to pay a charge to withdraw her cash.

Racassi finally realized she had been scammed.

Cryptocurrencies like Bitcoin and Ethereum have gotten extra mainstream, and for some, have led to an enormous pay day. As extra folks look to spend money on the digital forex, extra cryptocurrency scams are on the rise.

READ: Walmart says cryptocurrency announcement was fake

The Federal Commerce Fee (FTC) reported earlier this 12 months that it had obtained almost 7,000 complaints about cryptocurrency scams between October 2020 and March 2021, with reported losses of greater than $80 million. The median loss for these reviews was $1,900.

The FTC noticed a 12-fold improve in cryptocurrency rip-off reviews and almost 1,000% extra in reported losses from the identical time interval the earlier 12 months.

The Mountain West division of the Higher Enterprise Bureau has seen a reported $6,688 in losses from shoppers in Utah and Northern Nevada since April.

“It’s an enormous danger, particularly should you don’t know what you’re doing or how cryptocurrency works. 1000 plus is what we’re seeing folks put in, as a result of they’re being instructed they will make large returns on their funding, after all that’s not sensible however should you haven’t performed your analysis you do not know what to anticipate and what’s truthful and cheap to imagine,” stated Britta Clark with the BBB.

WATCH: Utah man trying to sell his home for Dogecoin

An FBI report pins Utah close to the highest of the listing for cybercrime victims per capita.

“They stated that Utahns are literally scammed greater than anyone due to their trusting nature, I suppose. And in addition, they lose about 10,000 {dollars} a bit once they’re scammed, I don’t learn about you however I don’t know anyone who can lose 10,000 {dollars} you understand?” stated Rod Buhlera cybersecurity professional at Salt Lake Group School.

Racassi says she’s not fully turned off to cryptocurrency, however she’s discovered a helpful lesson.

“Yeah, I’m going to be extraordinarily cautious and do my analysis earlier than I do anything with anybody else.”

Clark echoes that recommendation, saying do your analysis.

“1000 plus is what we’re seeing folks put in, as a result of they’re being instructed they will make large returns on their funding, after all that’s not sensible however should you haven’t performed your analysis you do not know what to anticipate and what’s truthful and cheap.”

Cryptocurrency scams may be reported to the FBIs web crime criticism middle, the BBB rip-off tracker, the FTC, and to Utah’s legal professional common.

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