Cryptocurrency Cheating Tactics are Now a Love Trap. As the use of digital currency increases, so does the use of crypto technology in criminal activities. Last year, fraudsters snatched cryptocurrencies worth about 140 million by trapping victims in love.

According to a report by the US Federal Trade Commission (FTC), the amount of cryptocurrencies seized in the love trap has increased five times in 2021 as compared to 2020.Cryptocurrencies accounted for the largest share of fraudulent money laundering in the United States last year. Victims lost an average of 770 in cryptocurrencies.

A large number of fraudsters have identified themselves as “financial experts.” Fraudsters have shown the temptation to make huge profits by investing the victims’ money in the cryptocurrency sector.

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The FTC said fraudsters often use pictures taken from the internet to create fake profiles on social media, fool the victims and collect money from them. Speaking of financial crisis, in some cases, the fraudsters sat down and asked for financial help from the victims. The technology site Verge reports that victims are tempted to make huge profits by investing in the cryptocurrency market or the stock market.

The FTC advises caution in certain matters to avoid fraud. The company recommends that anyone who has been identified online asks for money through gift cards, cryptocurrencies, online or wire transfers. And if there is any suspicion on the internet, the profile picture of that person can be verified through Google’s “Image Search” service.

Although there is no war transfer or cryptocurrency transaction in Bangladesh, financial fraud is almost always the same tactic. In this case, as well, it is best not to conduct any financial transactions with the person you met on the internet. If you have doubts about someone else’s identity, you can try to verify their identity through Google’s “Image Search” service.

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