American Lost $5 Billion in Cryptocurrency Scams

Tuesday, September 24th, 2024 -- 1:00 PM

(Bob Hague, Wisconsin Radio Network) A new report from the FBI shows Americans lost a shocking 5 billion dollars to scams involving cryptocurrency in 2023.

According to Bob Hague with the Wisconsin Radio Network, Wisconsin Consumer Protection director Michelle Reinen says that’s because scammers have moved to using crypto like bitcoin to steal your money.

Reinen says there’s really no legitimate reason to own cryptocurrency other than as a fun amusement, where you are unlikely to get your money back.

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