Beware of Bitcoin and Cryptocurrency Scams — Like These

More recently, FINRA has released a warning about cryptocurrency scams. They note that such scams mostly take classical forms — such as through telemarketing phone calls, spam emails, press releases, online posts, and amicable media. Know that while you can buy into several cryptocurrencies themselves, you can also buy or sell shares in several cryptocurrency-related companies, many of which are penny stocks. Penny bonds are one of many arguable ways to remove money, and they’re frequently used in “pump-and-dump” schemes, where a scammer will buy shares of a penny batch and hype the company, maybe online or around emails. Then, after trusting buyers snap up shares, promulgation the batch cost up, the scammer will sell his shares, promulgation the batch neatly down and wiping out the scam’s victims.

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