Home Scam/Fraud ‘There’s no safe haven anywhere’: Crypto swindles are rampant. Will the crypto...

‘There’s no safe haven anywhere’: Crypto swindles are rampant. Will the crypto crash make them worse?

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It started a cryptocurrency investing opportunity that slid into George Kissi’s direct messages in late April.

It’s ending with a bitcoin loss of almost $20,000 that the self-declared “risk taker” from Dublin, Ohio calls “a total scam.”

“I don’t know why I fell for that, other than greed,” Kissi, 49, told MarketWatch. When you have your eye on the prize and want everything now, he said, “That’s when you get scammed.”

What happened to Kissi is a cautionary tale that’s becoming common and costly, according to regulators. Some people are luckier than others in avoiding scams, but Kissi made mistakes in his attempts to make money and learned a lot of lessons too.

Perhaps the most salient lesson in light of the current crypto crash: Losing a large chunk of your investments can be a stressful and emotionally taxing experience. As such, the promise of a big payday in such a volatile market can prove too…

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