FTC Warning of Cryptocurrency Scams After Twitter Hacks

The Federal Trade Commission (FTC) recently released a warning on a popular brand-new cryptocurrency rip-off that techniques victims into sending money.The FTC caution follows high-profile celebrities and national leaders Twitter accounts were hacked earlier this month with scammers sending phony tweets telling fans to send money utilizing the cryptocurrency Bitcoin. Victims ranged from artist Kanye West to political leaders Joe Biden and previous president Barack Obama to Tesla CEO Elon Musk with hackers using their accounts to tweet out that fans would receive double the money back they transferred using Bitcoin. The fans were directed to send the Bitcoin to fraudulent accounts.The FTC warns that when money is sent out by means of Bitcoin or another type of cryptocurrency, the money is gone and there is typically now method to recover the money.FTC authorities stated a tweet– or social media message, text, email or other interaction– that requests you pay with Bitcoin is probably a scam. Other signs that the communication is a fraud is that it guarantees you will generate income, guarantees you will double your cash or states you will secure free money.Officials are asking anybody who finds a cryptocurrency rip-off to get in touch with the FTC immediately.Share This Story, Choose Your Platform!