US FTC issues a warning on the encrypted currency romantic scam

The US Federal Trade Commission (FTC) recently issued a warning using the romantic scam of the encrypted currency. The federal organization explained that the liar uses romantic love as a bait to lure people’s false investments, especially encrypted currencies. “The number of reported in 2021 is nearly 5 times the 2020, and it is more than 25 times the number of reports in 2019,” FTC is said.

The US Federal Trade Commission (FTC) warned that the romantic scam will induce people’s false encrypted currency investment

A few days ago, the US Federal Trade Commission (FTC) issued a warning of the encrypted currency related romantic scam. FTC is an independent organization of the US government, its main task is to implement American civil antitrust law and promote consumer protection.

“The new data of the Federal Trade Commission has reported that the consumer of many times will report to the victim of the romantic scam. Consumers reported that only 547 million US dollars only in 2021,” FTC said, and added :

“A growth trend in 2021 is that the liar uses romantic relationship as a bait, which is attracted to people with false investment, especially encrypting currencies.”

“Unfortunately, the consumer reported to the encrypted currency love scam said that in 2021, a total of $ 139 million is more than any other payment amount,” the federal agency detailed. “The number of reported in 2021 is nearly 5 times the 2020, and it is more than 25 times the number of reports in 2019.”

In addition, the FTC pointed out that the mediation of consumers who reported into encrypted currency fraud in 2021 were close to $ 9,770.

FTC said in the romantic scam:

“People will be cheated, Tianxiang believes that their online new partner is a successful investor, not long, this new partner will freely provide investment advice.”

In addition to encrypting currencies, another population approach to promotion of these romantic scams involves foreign exchange transactions.

However, the most common payment methods in the romantic scam are not encrypted currency. “There are about 28% of people who have lost money due to love scams, and they say they use gift cards or recharge cards, followed by encryption currency (18%),” FTC clarification. “

This federal agency has released a number of warnings involving encrypted currency scams this year. For example, in January this year, it warn on encrypted currency fraud using social media and ATM.