SEC Warns of Fraudulent Cryptocurrency Schemes

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Blockchain & Cryptocurrency , Cryptocurrency Fraud , Fraud Management & Cybercrime

Experts Say Social Engineering Continues to Drive Illicit Activity Dan Gunderman (dangun127) • September 7, 2021     (Photo: Executium via Unsplash)

The U.S. Securities and Exchange Commission warns against schemes targeting digital assets. Security experts say with social engineering attempts on the rise, individuals and organizations must remain vigilant against crypto-related scams or other “get rich quick” schemes.

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In its bulletin, the SEC’s Office of Investor Education and Advocacy and Division of Enforcement’s Retail Strategy Task Force says, “Fraudsters continue to exploit the rising popularity of digital assets to lure investors into scams, often leading to devastating losses.” The regulator warns users to beware of potential phishing or impersonation scams that appear to offer “something new” or

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