FTC: Americans lost $80M in cryptocurrency scams

Jokes may be made about Dogecoin on Saturday Night Live, but what crypto investment scams are doing to American citizens is not funny. The Federal Trade Commission says adults, primarily in their twenties and thirties, who are afraid of missing out on the next big financial thing have proven easy targets for scammers who have stolen about $80 million dollars from investors. “This trend is really striking,” said Emma Fletcher, a program analyst with the FTC’s Bureau of Consumer Protection. “It’s pretty alarming and concerning. So we definitely want to bring attention to this issue so that people can take steps to make sure that this doesn’t happen to them.”