{"id":8159,"date":"2023-09-01T19:49:19","date_gmt":"2023-09-01T19:49:19","guid":{"rendered":"https:\/\/friendsoftoms.org\/?p=8159"},"modified":"2023-09-01T19:49:19","modified_gmt":"2023-09-01T19:49:19","slug":"lost-your-savings-to-a-crypto-scam","status":"publish","type":"post","link":"https:\/\/friendsoftoms.org\/lost-your-savings-to-a-crypto-scam\/","title":{"rendered":"Lost Your Savings to a Crypto Scam? Here’s Your Ultimate Recovery Guide"},"content":{"rendered":"

Cryptocurrency has caught the world’s attention like wildfire. Many dream of making millions due to their high rate of return on investment compared to the rest of the financial asset classes. There are other factors, too, that are responsible for their global acceptance.<\/span><\/p>\n

Due to the financial crisis that has gripped the world, many rely on cryptocurrency to hedge inflation. Most have lost their jobs, and applying for a job has become increasingly challenging. Those who do find it increasingly challenging and are living paycheck-to-paycheck<\/span><\/p>\n

With such an economic crisis, it makes sense to have an alternate source of income.<\/span><\/p>\n

Although cryptocurrency is over a decade old, it has been the most successful asset class considering its high volatility and liquidity. Such market conditions are ideal for crypto investors or users to make a lot of money.<\/span><\/p>\n

The crypto market is so popular that many retail investors and traders are attracted to it. Many big financial giants, like Blackrock, have recently expressed a keen interest in it after their clients started demanding to include cryptocurrency as an additional financial asset in their portfolios.<\/span><\/p>\n

However, such popularity has attracted scammers and hackers alike. The crypto market has become a breeding ground for scams and fraudulent activities. As per the FTC reports, more than $1 billion was lost to<\/span> crypto scams<\/b>; thus, out of $4, $1 is lost to crypto fraud.<\/span>\u00a0<\/span><\/p>\n

Scammers indulge in illegal activities by offering fake investment schemes, and unfortunately, many fall victim and lose their financial holdings, while some even lose their retirement money.<\/span><\/p>\n

In this article, we will elaborate on various illegal crypto investment schemes that are popular with scammers.<\/span>\u00a0<\/span><\/p>\n

We shall first look at how scammers lure in their victims.<\/span><\/p>\n

\n
\n

Table of Contents<\/p>\nToggle<\/span><\/path><\/svg><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n