Scammers Target Owners of Cryptocurrencies

Other | 07/21/2022

The FBI is issuing this Public Service Announcement to warn American citizens about a cryptocurrency scam using an investment strategy called Liquidity Mininga in which scammers exploit owners of cryptocurrency, typically Tether (USDT) and/or Ethereum (ETH). The scammer builds a professional or personal relationship with victims over a few days to weeks, gives instructions for purchasing if the victims do not already own cryptocurrency, and entices them to participate in liquidity mining by guaranteeing a return on investment of one to three percent daily. Scammers convince victims to link their cryptocurrency walletb to a fraudulent liquidity mining applicationc. Scammers then wipe out the victims’ funds without notification or permission from the victim.

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