Keep away from the newest cryptocurrency rip-off

PANAMA CITY, Fla. (WJHG/WECP) – The newest cryptocurrency rip-off referred to as “pig butchering” or “pig slaughtering” encourages victims to place increasingly more cash right into a pretend cryptocurrency funding solely to “fatten them up” earlier than a scammer disappears with their cryptocurrency.

This rip-off is mostly seen on relationship websites and social media.

Florida’s Chief Monetary Officer, Jimmy Patronis, spoke with NewsChannel 7 about what to search for and methods to keep away from these scammers.

Patronis shared the following pointers:

• Solely scammers demand fee in cryptocurrency. No reliable enterprise goes to demand you ship cryptocurrency upfront – to not purchase one thing, and to not shield your cash. That’s all the time a rip-off.
• Solely scammers will assure earnings or huge returns. Don’t belief individuals who promise you may rapidly and simply earn cash within the crypto markets.
• By no means combine on-line relationship and funding recommendation. Should you meet somebody on a relationship website or app, and so they wish to present you how one can spend money on crypto, or asks you to ship them crypto, that’s a rip-off.

For extra tips about how one can keep away from cryptocurrency scams, click on here.

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