Crypto Scams Targeting Colorado Residents Net Millions: FBI Report

Alisha Deo

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(+1)-343-232-887

(+1)-765-675-67

Mail Address

info@domain.com

hello@domain.com

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Burnsville, MN 55337 Streat,

United States

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• The FBI has released a report showing that Colorado residents have become the major target of crypto criminals.
• Many of these scams involve stable assets such as Tether and USD Coin (USDC), where victims are directed to a link or phone number controlled by the fraudster.
• Victims have lost millions of dollars, with five recent examples of Colorado residents losing over $4 million in total.

FBI Report Shows Crypto Scam Targets in Colorado

The Federal Bureau of Investigation (FBI) has recently issued a report on crypto criminals targeting Colorado residents, stealing millions of dollars from them in the process. Stable assets like Tether and USD Coin (USDC) were frequently used in these scams.

How the Scams Work

The most common scenario involves an individual being approached on social media, dating app, or discussion forum with a cryptocurrency investment opportunity. The victim is then directed to a link or phone number set up by the fraudster for access to a support site. Once funds are transferred, the scammer disappears with the money.

Recent Examples

Five recent cases were highlighted in particular which involved victims losing more than $4 million altogether. This included $600K from a 52-year-old man living in Aurora; about $1.3 million from a 61-year-old woman in Denver; $350K from a 62-year-old man in Evergreen; and $1.2 million from two people their late 40s living Parker respectively. All these schemes had similar forms wherein an individual posing as an investment manager reached out to unsuspecting victims about new investment opportunities they couldn’t miss out on before directing them to phony websites controlled by scammers and hackers who subsequently made away with their funds after they attempted to make withdrawals following initial profits they saw when investing little amounts at first.

Advice From The FBI

The FBI advised potential victims not to send any form of cryptocurrency or money of any kind as it will be gone forever without any way of retrieving it back again after falling prey to such scams.

Similarity With Romance Scams

This scam bears several similarities with romance scams which operate similarly except that instead of coming off as an investment manager, the scammer comes off as someone looking for love before leading them into making investments that turn out being fraudulent eventually once withdrawals are attempted

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