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.
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…
