Scams are everywhere, and just when you think you’ve got it figured out and have yourself safeguarded, a new craftier one comes along. Especially with AI becoming harder to distinguish. Add to the popularity that crypto has gained in recent years, it’s no secret that scammers are focusing on that, and Washington is one of the worst for it.
Scam And Fraud In Washington
Over 53,000 complaints of fraud are filed with the Federal Trade Commission annually, according to Lightcurve. If those are just the cases that are reported, it’s not hard to imagine that those numbers are much higher.
READ MORE: Are Washington Scams Getting Too Complicated?
Crypto Scams On The Rise & Washington Is One Of The Worst
First off, if you’re not familiar with what crypto actually is, in a nutshell, it’s digital currency. How it is created and regulated is a big rabbit hole you can explore on your own, although Charles Schwab does have a pretty good breakdown of it.
In a new study on population vulnerability to crypto-related scams, Washington didn’t fare too well, according to the research from DuelBits.
Looking at crypto-related factors such as:
- Cybercrime rate
- Percentage of residents who own crypto
- Google Serches dealing with crypto and scams.
- Law Strictness (dealing with crypto)
- Crypto ATMs
Washington ranked as the 17th most vulnerable in America regarding crypto scams.
We’re pretty bad when it comes to cybercrime, but our strict regulation and laws on cryptocurrency are pretty good, 7th highest in the US.
Are You At Risk of Crypto Scams?
The little bit of cryptocurrency that I own, I treat as a hobby (in other words, not much) and something to try. Am I susceptible to a scam? Sure, everyone is, but I (and you) just need to keep a level head. If something sounds too good to be true, it probably is, and treat this scam like any other scam.
If you didn’t initiate the interaction, end it. Do your research. And when in doubt, hang up.
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Gallery Credit: Rik Mikals