Connect with us

Crypto

Better Business Bureau warns about rising investment, cryptocurrency scams

Published

on

Better Business Bureau warns about rising investment, cryptocurrency scams

Texas (KXII) – The Better Business Bureau says investment and cryptocurrency scams are on the rise, along with the amount they’re taking.

Monica Horton with the BBB said these scammers often play the long game to gain trust.

“They are developing a friendly relationship with someone over the course of several months,” she said.

Then they use that trust to convince victims into “investing” their money into something like the stock market or cryptocurrency.

“It’s a pretty involved scam where they are setting up these great looking platforms where you can watch your money grow,” Horton said.

Advertisement

Unfortunately for the victims, it’s just a facade.

“You start out small, but you keep on sending money,” Horton said. “So when it comes time to withdraw is when people realize that they have been scammed.”

That increased trust is increasing the amount the scammers are able to take as well.

“The average loss in 2020 was around $1,000, we have seen that increase recently to $6,000,” Horton said. “We have heard from a victim who was out $138,000.”

It’s not just older folks being taken advantage of either.

Advertisement

“Cryptocurrency investment scams are in the top three targeting the 18 to 24 demographic,” Horton said.

Horton said that always beware of strangers online and if it sounds too good to be true, it usually is.

“They’re making promises of guaranteed returns on your investment, that should be a red flag,” she said. “Just beware of anybody that really tries to befriend you.”

She said that prevention is key because once the money is gone, it’s usually gone for good.

“In this particular situation, there’s not a whole lot that can be done because you’ve typically sent your money outside the United States,” Horton said.

Advertisement

Scams can be reported to to the BBB Scam Tracker.

Crypto

Fed ‘Sweet Spot’ Sends Signal for Bitcoin as Jobs Data Quietly Sets Stage for $100K BTC

Published

on

Fed ‘Sweet Spot’ Sends Signal for Bitcoin as Jobs Data Quietly Sets Stage for 0K BTC
Bitcoin’s march toward $100,000 is gaining momentum as cooling U.S. labor data, shifting Fed policy expectations, and geopolitical tensions converge, setting the stage for renewed price discovery and a possible breakout beyond prior all-time highs.
Continue Reading

Crypto

Rumors are swirling about Venezuela holding $60 billion in Bitcoin—but crypto experts are skeptical | Fortune

Published

on

Rumors are swirling about Venezuela holding  billion in Bitcoin—but crypto experts are skeptical | Fortune

Following the United States’ capture of Nicolás Maduro over the weekend, a report came out claiming that Venezuela had $60 billion stored in Bitcoin—leading to speculation that the U.S. could lay claim to cryptocurrency as well as oil. Despite numerous reports of the huge Venezuelan Bitcoin stash, however, a crypto forensic firm is skeptical of the claims. 

The news of Venezuela’s Bitcoin holding began to bubble up last Saturday, the same day that Maduro was ousted. The digital publication Project Brazen reported that his regime could control $60 billion in the original cryptocurrency—but offered little in the way of proof.

“The article does not mention any addresses as a starting point, making it difficult to verify any of these speculated claims,” said Aurelie Barthere, principal research analyst at Nansen, about Project Brazen’s report. 

Barthere is not the first person to express skepticism about the country’s purported crypto treasure trove. Mauricio di Bartolomeo, the Venezuelan co-founder of the financial services company Ledn, told Fortune on Wednesday that the level of the country’s corruption makes the figure hard to believe. He expanded his argument in an opinion piece he wrote for Coindesk. 

Estimates of Venezuela’s crypto holdings vary wildly. Bitcointreasuries.net estimates that the country has $22 million worth of Bitcoin. That figure would make Venezuela the government entity with the ninth-most money tied up in the original cryptocurrency, just behind North Korea. 

Advertisement

While the exact size of Venezuela’s Bitcoin wealth is unclear, the country has long been a player in crypto. Maduro introduced a token called the Petro in 2018, which was shuttered six years later. Its citizens have also turned to stablecoins as a way to fight their currency’s hyperinflation.

Trump has said that he will “run” Venezuela, and some have speculated that includes seizing the country’s Bitcoin holdings. Andrew Fierman, head of national security intelligence at Chainalysis, said he could not speak to the likelihood of such a seizure. He did, however, explain what gaining control of assets might look like. 

A freezing of assets could occur through centralized services, he says. These services would get a court order for an exchange or an issuer like Tether or Circle who could blacklist an address. The second method is through physical seizure. The U.S. could get control of wallets, devices, and keys through compelled cooperation. 

For now, there is unlikely to be a full and accurate account of Venezuela’s Bitcoin holdings until the political situation in the country becomes more stable.

Join us at the Fortune Workplace Innovation Summit May 19–20, 2026, in Atlanta. The next era of workplace innovation is here—and the old playbook is being rewritten. At this exclusive, high-energy event, the world’s most innovative leaders will convene to explore how AI, humanity, and strategy converge to redefine, again, the future of work. Register now.
Advertisement
Continue Reading

Crypto

Pantera Signals 2026 Crypto Breakout After 2025 Quietly De-Risked Markets

Published

on

Pantera Signals 2026 Crypto Breakout After 2025 Quietly De-Risked Markets
Crypto’s biggest gains in 2025 weren’t on price charts but in policy, institutions, and infrastructure, as regulatory reversals, Wall Street access, and onchain growth quietly reset the industry’s long-term trajectory, Pantera Capital argues.
Continue Reading

Trending