The SEC has warned crypto investors about scammers using social media to exploit their fear of missing out (FOMO). cryptocurrency bitcoin
SEC Warns Crypto Investors of Scammers Exploiting Their Fear of Missing Out on Social Media
The SEC’s Office of Investor Education and Advocacy warned that “fraudsters often use social media to scam investors.” Encouraging investors to be skeptical and “never make investment decisions based solely on information from social media platforms or apps,” the securities regulator described: “If a crypto investment ‘opportunity’ sounds too good to be true, it probably is,” the SEC stressed. “Promises of high investment returns, with little or no risk, are classic warning signs of fraud.”
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