FTC: Americans lost $80M in cryptocurrency scams
May 19, 2021
Jokes may be made about Dogecoin on Saturday Night Live, but what crypto investment scams are doing to American citizens is not funny. The Federal Trade Commission says adults, primarily in their twenties and thirties, who are afraid of missing out on the next big financial thing have proven easy targets for scammers who have stolen about $80 million dollars from investors. “This trend is really striking,” said Emma Fletcher, a program analyst with the FTC’s Bureau of Consumer Protection. “It’s pretty alarming and concerning. So we definitely want to bring attention to this issue so that people can take steps to make sure that this doesn’t happen to them.”
Recent News
Tesla Recalls Cybertruck Due to Stuck Accelerator Pedal
Tesla is recalling almost 4,000 Cybertrucks due to a sticking accelerator pedal. The problem stems from an unauthorized lubricant used during assembly, which reduces the pad’s grip on the pedal.
Trader Joe’s Recalls Organic Basil Product Linked to Salmonella Outbreak
The company’s Infinite Herbs Organic Basil product is recalled due to a possible salmonella contamination.
Procter & Gamble Reports Mixed Results After Price Hikes
Procter & Gamble’s recent quarterly results showed a mix of gains and setbacks. Despite facing challenges in attracting shoppers due to increased prices over the past two years, the company managed to exceed earnings expectations.
JetBlue and Southwest Airlines Collision Narrowly Avoided at Reagan National Airport
An air traffic controller instructed one plane to cross the runway at the same time a second plane was taking off.