US state officers warn of cryptocurrency scams on social media

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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.”

Excerpt from Vermont investor warning in opposition to cryptocurrency fraud. Supply: dfr.vermont.gov

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