Crypto-related scams often promise unrealistic returns with little or no risk to the investor. They use emotions to lure people in, often making a person feel afraid of missing out on an opportunity that others are profiting from. Crypto scams use platforms such as social media, dating apps, and websites designed to either look like legitimate/registered trading platforms or investment firms. Scammers also reach people through targeted online ads — such as computer pop-ups — network marketing, and home phone calls. If questioned, the individuals involved in the scam often suggest they don’t need to comply with financial regulations in New Brunswick. Scammers are also known to pose as financial advisors and solicit investors.
Always check registration and never invest based on pressure or fear of missing out.