IDAHO — Attention TikTok Tok users, if you're one of those endless scrollers who stops when you see someone holding up big wads of cash, listen up!
The Better Business Bureau is reporting an increase in TikTok scams involving get-rich-quick schemes by investing in cryptocurrency.
Users might see a figure surrounded by tons of cash and a caption that says something like "Find out how to invest in cryptocurrency." The curious victim might send them a message, asking how they can make some easy money, to which the scammer will say that they can handle the investing part if you just send some money. Once you send, you'll be asked to keep sending more and more as the promises of that growing investment keep getting bigger and bigger, but by the time you realize that they're never going to give you anything, you've already lost thousands.
It may seem simple enough to just avoid these kinds of situations, but there are ways to avoid even the most believable scams.
"If you don't know something really well, if you don't know cryptocurrency, you don't know investment strategies, just using good judgment is the first way to protect yourself in these situations. Do your research," warns Better Business Bureau Chief Innovation Officer Dale Dixon. "If there's a person who's legitimately doing investments, they outta have a significant amount of information available about them. If you've engaged with somebody like this already and they're threatening you, don't give in to the scare tactics, just walk away."
And remember - nobody has your best interests in mind like you have your best interests in mind.
