News20 September

Better Business Bureau warns about cryptoscam in Tiktok

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The nonprofit organization, founded in 1912, intends to explain to users of the largest social network that when the creator of a video with a bunch of money says he made it from crypto, it's probably a scam.

"You're browsing TikTok when you come across a video showing a bunch of money. The creator of the video claims to have made that pile of money in just a few days investing in cryptocurrency," from a Better Business Bureau (BBB) post.

The BBB is a private nonprofit organization empowering people to find businesses, brands, and charities they can trust for more than 110 years.

The bureau also stated in Scam Tracker there are many new reports related to this money transfer scam. As the scammers suggest, "turn cryptocurrency worth a few hundred dollars into thousands in no time."

"If you ask them a question, they may resort to scare tactics, telling you that if you don't pay, you'll miss out on a giant refund or that they can take you to court."

Warns BBB further, "Unfortunately, all the money you send will end up in the pockets of the scammers. You won't get a return on your investment, and you won't get your original deposit back either."

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