Better Business Bureau reported losses from cryptocurrency scams have tripled since 2019 across the country.
BOISE, Idaho — The hype around cryptocurrency and people looking to invest is getting the scammers to get in on the action.
The Better Business Bureau (BBB) reported losses from crypto scams have tripled since 2019. In 2021 alone, scams cost people nearly $8 million.
“When we have an environment where there is popularity and confusion, then you throw in money, it makes for the perfect storm for a con artist to tap into that,” said Rebecca Barr, the PR and communications manager for BBB.
“There’s just a lack of information and education in this industry and it’s just like basic stuff, like, how to set up a wallet,” said Ryan Clements, a co-founder of Idaho Crypto Group.
Clements founded Idaho Crypto Group with Jesse McCusker in 2017. The two strive to educate and grow the cryptocurrency economy through classes, online tools and videos. They teach people things like wallet setup, transaction assistance, trading/exchange training, mining and even how to spot a scam and fraud.
“We spend time helping people get out of the mess and teach preventive maintenance so that they’re safe when they get started,” McCusker said.
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