Officials offer warning, advice on cryptocurrenty scams

TYLER — The Better Business Bureau, The Secret Service, and the FBI team up at a news conference in Tyler on the dangers of cryptocurrency scams. The BBB’s Mechele Mills notes that cryptocurrency operates completely on the Internet and there’s no way “to reverse charges or things like that.” Mills says one reason for the danger is that cryptocurrency is “trendy,” with people “wanting a piece of the action in a way.” She tells us cryptocurrency is being used in employment and romance scams, scammers are using the new Bitcoin ATMs to get money, and they’re using cryptocurrency in the ways they normally perpetrate. Mills says it’s very important to be as knowledgeable as you can and not to react emotionally.

Officials say scams’ numbers have increased as interest in BItcoin and other types of cryptocurrency has continued to gain attention. Officials shared the results of a study on the matter, and victims were on hand to share their stories. Click here for more information.