Eye on Scams: Cryptocurrency TikTok scams
LAFAYETTE, La. (KLFY) -- There's a new 'get-rich-quick' scheme on TikTok.
Scammers are targeting TikTok users using fake cryptocurrency investments. They make videos that go viral and send private messages to users telling them that if they support their investment with cryptocurrency, they'll make a lot more money. The scam is that the investment is not real.
These videos and messages often look real because scammers build their profiles over time. They create and update accounts to make it look legitimate.
How To Avoid Cryptocurrency Scams
- Use good judgment. Get-rich-quick schemes are almost always too good to be true.
- Do your research. Look up the name of the company they are asking you to invest in. You can search on BBB Scam Tracker for scam reports.
- Don't give into scare tactics. "Investors" will often try to convince you that the investment will only work if you act immediately.
- Understand how digital wallet services work. Once you send cryptocurrency, you may not be able to get it back if you're scammed.
- Find a trusted financial advisor to help you. If you are interested in investing, look for a BBB Accredited financial consultant to help you.