As cryptocurrency continues to increase in popularity as a way of making digital payments, cybercriminals are also increasingly using it as a means by which to scam people.
Scammers offer investment "opportunities" that promise you financial freedom, with advertisements for these types of investments often found on popular social media sites.
As with any investment, do some research and consider seeking independent advice before parting way with your hard earned cash.
Police remind everyone not to be pressured into opening digital wallets, as scammers often target people who are unfamiliar with the process. If someone is asking you to send them a copy of your identification or to take a photo of yourself holding a sign, these are indications that a cryptocurrency account is being set up your name.
Remember, just because an investment has an apparent celebrity endorsement, does not mean it is safe.
For more prevention advice and information on current scams and cybercrimes affecting South Australians, please visit www.police.sa.gov.au/scams or https://www.scamwatch.gov.au/
Risk Warning: Cryptocurrency is a unregulated virtual notoriously volatile instrument with a high level of risk. Any news, opinions, research, data, or other information contained within this website is provided for news reporting purposes as general market commentary and does not constitute investment or trading advice.
