The Federal Trade Commission (FTC) issued a consumer alert last month regarding the growing risk of crypto frauds. The FBI is now adding its voice to the chorus by issuing its own warning.
FBI Cautions Against Crypto Scam Apps
The agency is alerting banks and investors about an eight-month period of increased cybercrime activity involving phony bitcoin apps.
A report released on July 18 states that the Federal Bureau of Investigation has identified 244 victims in various crypto-related cyber crimes, with an estimated loss of $ 42.7 million.