The Better Business Bureau (BBB), a private non-profit organization, has issued a warning about an increase in cryptocurrency scams on the popular social network TikTok.
The experts explained that as the popularity of the platform grows, so does the number of scammers on it. So, the Scam Tracker service receives more and more complaints related to TikTok.
Most often, scammers do not go for any tricks and simply publish videos that show a huge amount of money, and the voice-over says that they earned it in just a few days by investing in digital currencies. At the same time, as a rule, they promise viewers to help triple the money invested in just a week. Fraudsters leave their contacts on WhatsApp or Telegram, where they offer to transfer several hundred dollars to PayPal, Venmo or Zelle to begin with.
But that’s not all: if you come to your senses and declare that you want your money back, the scammer will say that you need to pay a commission. And pay multiple times. They may also appeal to the fact that if you do not pay all the necessary costs, you will miss out on a huge profit. Some even threaten to sue their victims.
“Unfortunately, any money you send will end up in the pockets of scammers. You will not get your investment back and you will not get back your initial deposit,” the BBB warns.
Earlier, the Australian organization Scamwatch published a report stating that over the past year, citizens of the country have lost about $242 million due to cryptocurrency fraud.
Source: Bits
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