<body><div><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=2cK3K1_0uRrJAzk00" alt="https://img.particlenews.com/image.php?url=2cK3K1_0uRrJAzk00" width="1900" height="1069" >CINCINNATI (WKRC) - The Ohio Department of Commerce Division of Securities urges Ohioans to be cautious of cryptocurrency investments.The FBI’s Internet Crime Report says investment fraud including cryptocurrency had $3.96 billion in losses in 2023. An increase of 53% from the year before.Here's what the con looks like.The fraudsters use two key things: the fear of missing out and your lack of understanding how cryptocurrency works. These scammers can reach out to you in all different ways, or you may even go looking for a crypto expert and get a fraud. Either way you’ll need to be vigilant and skeptical of "too good to be true" offers.“Some of the most important things investors should be looking out for when investing in cryptocurrency should be if they are using an investment advisor, make sure the investment advisor is licensed. They can contact the Ohio Division of Securities to check the license of the individual. Another thing to keep in mind, and this may be one of the important ones, is that unlike traditional finance and even in stocks and bonds, once you send that money to invest with cryptocurrency, that’s a one-way transaction that money cannot be recalled. So once you send it, it is gone,” said Timothy Jones, investigator supervisor of the Ohio Division of Securities.Here's how you can protect yourself:<ul><li>Check the license of an investor.</li><li>And only use reputable and licensed advisors or the platform through which you plan to invest.</li><li>This may mean doing your own research.</li><li>Don't fall for anyone putting pressure on you to do something quickly - that's a red flag that it's likely a scam.</li></ul></div></body>

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Agency warns Ohioans of crypto scams

CINCINNATI (WKRC) - The Ohio Department of Commerce Division of Securities urges Ohioans to be cautious of cryptocurrency investments. The FBI’s Internet Crime Report says investment fraud including cryptocurrency had $3.96 billion in losses in 2023. An increase of 53% from the year before. Here's what the con looks...