Mon Oct 14 14:40:00 UTC 2024: ## Cryptocurrency Scams Surge in Connecticut, Leaving One Woman $84,000 Out of Pocket
**CROMWELL, CT** – The Better Business Bureau (BBB) is warning Connecticut residents about a surge in cryptocurrency investment scams. Since 2020, the BBB has received over 4,000 reports nationwide, with losses reaching an average of $6,000 per report this year. In Connecticut, the average loss has risen even higher, jumping to $22,580 in the first four months of 2024 alone.
One alarming case involved a Torrington woman who was targeted through a social media hack. The scammer, posing as a friend, promised guaranteed returns through an automated cryptocurrency trading bot. The victim witnessed apparent growth in her account and eventually requested a withdrawal, but the scammer demanded a 20% commission. After paying the commission, the scammer vanished, leaving the woman with a staggering $84,000 loss.
The BBB highlights several red flags to watch out for in cryptocurrency investment scams:
* **Little-known cryptocurrencies:** Be wary of investments involving unfamiliar cryptocurrencies.
* **Requests to share your wallet:** Never share your cryptocurrency wallet with someone you don’t fully trust.
* **Guaranteed returns:** Promises of guaranteed returns are often too good to be true.
* **Minimal effort investments:** Scams often promise easy money with minimal effort.
* **Secret strategies:** If someone tries to convince you not to research their investment strategy, be suspicious.
* **Sudden friendships:** Beware of strangers who suddenly want to befriend you and offer investment advice.
The BBB urges Connecticut residents to exercise caution and to research any investment opportunity thoroughly before making any commitments. If you believe you have been a victim of a cryptocurrency scam, contact the BBB and local authorities.
First Piper 