New fraud scheme in U.S. related to FTX
2022.12.28 12:05
New fraud scheme in U.S. related to FTX
Budrigannews.com – Scammers are using the FTX collapse as an opportunity to prey on victims who have already been harmed by posing as government officials, despite the fact that many users are clamoring for the return of their lost funds.
The Oregon Division of Financial Regulation (DFR) issued a press release warning crypto investors that con artists are putting up bogus applications and websites with the intention of taking their money and giving them nothing in return. Before depositing any funds into crypto trading platforms, the DFR advised traders to “do their homework.”
A website that claimed to be managed by the United States Department of State was used as an illustration by the DFR. The DFR claims that the website stated that it was attempting to assist FTX customers in recovering their assets. The website was able to obtain usernames and passwords from an investor as a result of this. T. K. Keen, DFR Administrator, stated:
“We have said this before, but if it sounds too good to be true, it probably is. We encourage everyone to do their homework and invest wisely, and be diligent in protecting their usernames, passwords, and other sensitive data.”
Keen also pointed out that the cryptocurrency industry is home to numerous scams that appear to be legitimate. The officials also encouraged victims of crypto-related scams to file complaints with the office in addition to issuing a warning.
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In the meantime, executives who were involved in a scam involving a crypto exchange in South Korea were given up to eight years in prison. Six officials were caught in the $1.5 billion scam that promised 300% returns to 50,000 investors. In any case, three were not, as they guaranteed guiltlessness to certain charges and will shield themselves in court.
