The Vermont Division of Monetary Regulation (DFR), the monetary regulator of the US state of Vermont, has warned the general public about a rise in cryptocurrency funding scams happening on fashionable social media websites.

On June 25, 74-year-old Naum Lanzmann misplaced $340,000 in his life financial savings to a cryptocurrency rip-off orchestrated by Instagram and Telegram. DFRMore Referenced The incident emphasised “the necessity for Vermonters to train excessive warning when utilizing or investing in cryptocurrencies.”

Learn extra on Cointelegraph