The Better Business Bureau says the frequency of seeing cryptocurrency scams are on the rise. The danger in dealing with cryptocurrency is that accounts are not backed by a government, so when you pay with cryptocurrency, there are no legal protections and payments typically are not reversible.
Better Business Bureau investigator Don O’Brien tells The Big Z one of the more popular scams is an investment scam.
Another plays out much like the traditional wire transfer scams that have utilized Western Union, Green Dot money cards, or other popular methods of sending money.
For more information about Cryptocurrency and Scams, click here: https://www.bbb.org/all/scamstudies/cryptocurrency_scams/cryptocurrency_scams_study