2 weeks Ago By [email protected] (MENAFN)
( MENAFN ) The US Commodity Futures Trading Commission (CFTC) issued a warning on Thursday regarding the risks associated with messaging apps, cautioning users to be vigilant against schemes aimed at defrauding them of their assets, particularly cryptocurrency. The CFTC highlighted that fraudsters are taking advantage of the default settings in popular messaging apps and mobile devices to lure individuals into crypto-related scams, including pump-and-dump schemes. In its statement, the CFTC pointed out that apps like WhatsApp and Telegram allow scammers to add random or targeted phone numbers to group chats, facilitating fraudulent activities.
Melanie Devoe, director of the CFTC’s Office of Customer Education and Outreach, emphasized that many users of these apps may not be aware of the common risks and scams linked to cryptocurrency. Devoe cautioned that messages promising extraordinarily high returns—such as 300 percent or even 1,000 percent—with no associated risks can be very enticing, but users should refrain from engaging with such offers. The CFTC's warning serves as a reminder for users to be skeptical and cautious when confronted with unsolicited investment opportunities through messaging platforms.
MENAFN03112024000045015839ID1108845473 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
.
