POSITION:TG777 - TG777 casino - G777 slot - TG777 Official Website > TG777 slot > 337jili CICC warns of rise in crypto, dollar investment scams
337jili CICC warns of rise in crypto, dollar investment scams
Updated:2024-11-22 03:55 Views:121
The Cybercrime Investigation and Coordinating Center (CICC) is warning the public that investment scams are spreading after the record rise of cryptocurrency prices. Photo Credit: CICC
MANILA337jili, PHILIPPINES — The Cybercrime Investigation and Coordinating Center (CICC) warned the public that investment scams are spreading after the record rise of cryptocurrency prices.
CICC Executive Director Alexander K. Ramos said that the agency has received complaints from 14 victims related to crypto and dollar fraud.
These scammers are mostly foreigners who promise high yields on cryptocurrency investments. Often, they create a false sense of urgency, pushing unsuspecting victims to invest quickly.
Article continues after this advertisementFraudsters claim that these are limited officers, so victims should not miss out on an incredible opportunity.
FEATURED STORIES TECHNOLOGY CICC warns of rise in crypto, dollar investment scams TECHNOLOGY MIT develops capsule as needle-free alternative to medications TECHNOLOGY US might launch strategic bitcoin reserve after state introduces billREAD: CICC probes possible organized hacking behind GCash fund transfers
According to Ramos, the cybercriminals asked the victims to invest between $100 and $1,000 via foreign account deposit.
Article continues after this advertisementHowever, the scammers cut off communications once the money reaches the designated account.
Article continues after this advertisementForbes said the bitcoin price skyrocketed from $500 in May 2016 to $91,488 on November 19, 2024. As a result, investment scams became more rampant.
Article continues after this advertisementThe CICC’s warning followed the release of the video message of the US-based Federal Trade Commission (FTC) regarding this cybercrime surge.
The FTC said today’s digital age has captured the attention of investors worldwide. And the increased attention caused a surge in investment scams targeting unsuspecting individuals.
Article continues after this advertisement“It’s essential to remember that if the deal seems too good to be true and likely is,” the FTC reminded the public.
READ: How to avoid pig butchering investment scams
“Every legitimate investment carries some level of risk, and no one can guarantee profits in an unpredictable market.”
Ramos, meanwhile, reminded Filipinos to research any investment before putting money into it.
“Check with government regulatory agencies if such companies have the license to do business before investing. Remember: no investment is risk-free,” he said.
Subscribe to our daily newsletter
Victims of investment scams can call the Inter-Agency Response Center (IARC) hotline at 1326. It’s a toll-free line and operates round-the-clock from Mondays to Sundays337jili, including holidays.
TOPICS: cryptocurrency, Fraud, investment, scam, technology READ NEXT YGG Play Summit discusses the future of work 6 things to know about the ASUS Vivobook S 14 Ultraportable AI... EDITORS' PICK Fil-Am siblings shot dead at scene of house fire in California NBA: Warriors roll past Hawks for fifth straight win at home Endometriosis linked to slightly higher risk of early death Comelec to resolve next week appeals of bets declared as nuisance Chavit Singson, Isko Moreno endorse each other’s candidacies in 2025 polls MOST READ LIVE: Gilas Pilipinas vs New Zealand at Fiba Asia Cup Qualifiers Comelec to resolve next week appeals of bets declared as nuisance House probe retraces bulk withdrawals of confidential funds House probe: OVP, DepEd CFs received by same man, different signatures Follow @FMangosingINQ on Twitter --> View commentsRelated News