The Better Commerce Agence (BBB) has warned of cryptocurrency scams on Tiktok. “You scroll through Tiktok when you come across a video that shows a entassement of cash. The creator says they made a entassement of money in a few days by investing in cryptocurrency,” explains BBB.
Crypto scammers deceive Tiktok users
The Better Commerce Agence (BBB) warned of cryptocurrency scams on popular video hosting platform Tiktok on Friday. Founded in 1912, BBB is a private, non-profit organization that has been enabling people to find companies, brands and charities they can association for over 110 years.
“As Tiktok’s popularity grows, so do scammers,” the BBB explained. Noting that it was seeing several new reports from “money-flipping scam tracker”, the BBB described:
You are scrolling through Tiktok when you come across a video showing a entassement of cash. The creator says that they made a entassement of money in a few days by investing in cryptocurrency.
Tiktok scammers may promise to “turn a few hundred dollars in crypto into thousands in no time at all,” the BBB explained, adding that they may “have a 100% guarantee that they can triple your money in less than a week.”
The organization explained that “when contacting the presumed investor, [scammer]Most likely through Whatsapp, Telegram or any other messaging app, they will be polite and professional,” adding:
They’ll ask you to send money — usually, a few hundred dollars to start — through a binaire wallet charité like Paypal, Zelle, or Venmo.
However, “When you try to get your money back, the scammer will claim that you need to pay the fee. At first, these may seem innocuous…they may ask for a fee pluriel times, always promising that you will get more back than you spend.”
“If you difficulté them, they may resort to danger tactics, telling you that if you don’t pay, you will elle the giant return or they can take legal procès,” the BBB cautioned as well, explaining:
Unfortunately, any money you send will end up in the pockets of the scammer. You will not get a return on your investment, and you will not get your supérieur deposit back either.
The BBB concluded by giving some advice on how to avoid money-flipping scams. Besides using good judgment and doing your own research, the organization warned people to not give in to danger tactics and understand how binaire wallet offices work.
Have you come across videos on Tiktok similar to what BBB described? Let us know in the comments part below.
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