$ 31,492
$ 1,189.4
$ 132.44


The advent of cryptocurrency technology and its impressive incorporation by businesses as a means of payment, has driven the acceptability of the technology as well as its popularity as a means of exchange. However, there has been a proportionate increase in the number of frauds recorded by the use of the technology.

The Federal Bureau of Investigation (FBI) has drawn the attention of the populace to likely new methods that may be exploited by crypto scammers who may be leveraging on the recent coronavirus pandemic.

The FBI, while speaking at a news release as was published on Monday by US agency, admonished that people be on the look-out for possible new methods which may be adopted by the miscreants. Some of the methods included, work-from-home scams, threatening emails or letters, investment scams and efforts in the bid to lure unsuspecting individuals to buy non-existent equipment or treatments.

On how to avoid likely scams, the FBI released a couple of tips advising that the tips would enable individuals avert possible crypto scammers. Highlighting some of the tips, the agency advised that people should always double-check companies, charities etc. to make sure that they were authentic and accepted digital assets before sending funds. Additionally, people should detest from using personal bank accounts for work-related or business-related activities as well as report suspicious threats to the appropriate authorities.

Finally, the agency encouraged customers and the general public to do their personal research and findings before embarking on any investment opportunities.

Developments in cryptocurrency technology and an increasing number of businesses accepting it as payment have driven the growing popularity and accessibility of cryptocurrency. There are not only numerous virtual asset service providers online but also thousands of cryptocurrency kiosks located throughout the world which are exploited by criminals to facilitate their schemes. Although there are legitimate charities, investment platforms, and e-commerce sites that accept payment in cryptocurrency, the pressure to use a virtual currency should be considered a significant red flag”

The agency, however, states that it has an entire Criminal Investigate Division dedicated specifically to curtailing cyber-crime and money laundering.

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Crypto Stats

CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin31,492 0.89 % 8.41 % 15.92 %
Ethereum1,189.4 2.06 % 8.43 % 5.06 %
Tether1.010 0.49 % 1.41 % 0.15 %
Polkadot16.21 0.89 % 4.84 % 47.05 %
XRP0.2758 1.31 % 4.63 % 10.02 %
Cardano0.3348 1.86 % 4.15 % 7.55 %
Litecoin132.44 0.73 % 8.62 % 10.22 %
Bitcoin Cash437.65 2.01 % 10.21 % 11.90 %
Chainlink19.50 1.87 % 3.61 % 22.19 %
Binance Coin39.89 0.72 % 4.90 % 0.83 %