Lori Fulbright from News On 6 emphasizes the growing problem of cryptocurrency scams. She alerts viewers about various fraudulent tactics, such as scammers posing as investment managers with alluring promises of high returns, and others using fake celebrity endorsements or romantic claims to gain trust. Many victims find themselves unable to retrieve their funds, as federal authorities often struggle to assist when scammers operate overseas. Lori stresses the importance of recognizing red flags, such as promises of guaranteed returns and offers to “protect” your money. She encourages everyone to share this vital information with friends and family to help safeguard their hard-earned money from these deceptive schemes. For more tips on avoiding scams, visit Lori’s guide.
If you’ve been bombarded with calls about cryptocurrency scams, you’re certainly not alone. News On 6 anchor Lori Fulbright is raising the alarm, warning viewers about the sneaky tactics scammers are using and how to protect yourself from falling victim this year.
Lori has received numerous reports from people who are losing their hard-earned money to these scams. One particularly troubling story involves a man who invested all his life savings into a cryptocurrency account, only to find he couldn’t withdraw his funds.
Scammers Posing as Investment Managers
Lori explains that scammers often impersonate investment managers, luring victims with promises of incredible returns. She cautions, “They’re going to either shut it down and take all your money or require you to pay hefty fees to get your money back—all part of the scam.”
Fake Celebrity Endorsements and Romantic Approaches
The schemes don’t stop with investment managers. Lori notes that scammers may also pretend to be celebrities or even profess their love to entice you into investing. “They’ll say, ‘I’m in love with you and I could really grow your money.’ But all that money is going to be gone,” she warns.
Government Agencies Unable to Help
One of the most alarming aspects of these scams is that federal agencies often can’t assist victims, as many of the scammers operate overseas. “The FBI and Homeland Security are limited in what they can do because these criminals are outside the country,” Lori states.
Identifying Scams: Red Flags to Watch Out For
How can you spot these crypto scams? Lori advises keeping an eye out for unrealistic promises of high returns with no risk, and claims of being a celebrity or a renowned investment expert. “If they promise big returns with zero risk, you can bet it’s a scam,” she emphasizes.
Spreading Awareness and Protecting Loved Ones
To combat this growing problem, Lori urges everyone to talk to friends and family about these scams. The more we share information, the better chance we have at keeping our savings safe. “Talk to all your loved ones—young and old—about these scams,” she says.
By staying informed and cautious, we can help protect ourselves and others from falling prey to cryptocurrency scams. Make sure to check out Lori’s full list of tips for additional guidance.
What are some common signs of cryptocurrency scams?
You might notice promises of high returns with little risk, pressure to invest quickly, and unclear information about the project. If it sounds too good to be true, it probably is.
How can I protect myself from cryptocurrency scams?
To stay safe, research any investment thoroughly. Check the team behind the project, read reviews, and only invest what you can afford to lose. Always trust your instincts; if something feels off, it’s best to walk away.
Is it safe to invest in new cryptocurrencies?
New cryptocurrencies can be risky. It’s important to be cautious and do extensive research before investing. Look for transparency, a solid business plan, and community support.
What should I do if I think I’ve been scammed?
If you think you’ve fallen victim to a scam, act quickly. Report it to your local authorities and if possible, contact your bank or credit card company. They may help recover your funds.
Can I get my money back after being scammed?
Recovering money from a scam is often difficult. While some cases have seen money returned, it’s not guaranteed. Always be vigilant and focus on prevention to avoid future scams.