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How to Avoid Crypto 'Pump and Dump' Scams
The U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) are both warning about emerging digital currency scams. Below are a few ways to protect yourself;
- Find multiple sources about the coin or token, especially if you heard about it on social media.
- Tread lightly with ads that promise quick wealth. Research thoroughly any virtual currency, digital coins and all ICO's to separate hype from facts.
- Remember that there is no such thing as a guaranteed investment. Beware of 'no risk' investments.
- Contact the CFTC at (866) 366-2382 or visit CFTC.gov if you believe you have been a victim of fraud.
Source: Forbes
Replies (7)
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