Colorado Residents Targeted by Crypto Criminals: FBI

• The Federal Bureau of Investigation (FBI) recently issued a report that reveals Colorado residents have been victims of cryptocurrency scams and frauds.
• According to the FBI, scammers typically target victims through social media platforms, dating apps, and discussion forums with investment opportunities.
• The victims of these scams face financial losses amounting to millions of dollars in Tether (USDT) and USD Coin (USDC).

Colorado Residents Targeted by Crypto Scams

The Federal Bureau of Investigation (FBI) recently released a report which found that Colorado has become a major target for crypto criminals. The document showed the monetary losses experienced by Colorado residents due to cryptocurrency scams amounting to millions of dollars in Tether (USDT) and USD Coin (USDC).

How Do Crypto Scammers Operate?

The FBI outlined how these scams typically operate: A scammer will contact potential victims on social media platforms, dating apps, or discussion forums with an investment opportunity. They’ll then direct them to a link or phone number set up by the fraudster which is actually a fictitious support site. If the victim transfers funds into this account, the fraudster will disappear with their money.

Examples from Colorado Residents

The FBI mentioned numerous recent examples of Colorado residents who fell victim to crypto scams resulting in financial losses over $4 million combined. These included more than $600K stolen 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 a pair in their late 40s in Parker.

Common Scam Structure

In most cases, scammers pose as investment managers offering new opportunities for potential victims that are ‘too good to miss’ and direct them to phony websites under their control where they falsely promise large returns on investments over time – if they invest more money upfront. Once the victim follows through with an additional investment however, they are unable to make any withdrawals as promised.

Advice From The FBI

The FBI warned: „The advice and offers to help you invest in cryptocurrency are nothing but scams.“ They advised not sending any crypto or money of any kind as it will be gone forever without any chance of recovery once it’s sent out