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Cryptocurrency investment scams skyrocket through social media

Online Scams

Cryptocurrency investment scams skyrocket through social media

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Estimated read time: 3-4 minutes

SALT LAKE CITY — More and more folks who think they are investing in cryptocurrency are actually being duped into sending money to thieves.

When a South Dakota woman found herself out more than $10,000 because of a scheme, she contacted the KSL Investigators because she wanted others to know about it and hopefully avoid a similar situation.

“I was defrauded over crypto,” said Vianey Murguia.

She explained the rip-off began with a post she saw on social media made by who she thought was her cousin.

“(She) posted how much money she had made out of this cryptocurrency,” Murguia said.

She messaged her cousin through the app — though it turned out her cousin’s account had been hacked by a crook. After a lot of back and forth with someone Murguia thought was an investment manager that had worked with her cousin, she was convinced. She sent them $1,000. Then a bit more. And within a few days — bam! Murguia got a report showing the few grand she had invested had done remarkably well and was now worth more than $50,000.

Then came the catch.

“She was like, ‘Yeah, so it looks like you’re going — because it is a larger amount of money — you’re going to have to upgrade your package,'” Murguia said.

That was going to cost her another $6,000. But from the looks of those investment statements, it seemed well worth it to Murguia. A few more $1,000 was added to cover the fees needed to release the money. The total…

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