Cryptocurrency scams spike as Bitcoin, Dogecoin, Shibu Inu are sought by investors, feds say

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Consumers have lost more than $80 million in cryptocurrency scams as more investors are paying attention to alternative investments such as Bitcoin, Dogecoin and Shibu Inu, the Federal Trade Commission (FTC) said Monday. It’s a ten-fold increase over the same period the year before, the agency said. The FTC received nearly 7,000 crypto-related complaints in the last three months of 2020 and in the first quarter of 2021, it said. The median loss per consumer was $1,900, the FTC said. The scams took on several forms, including ones that started with offers of investment “tips” or “secrets” in on…

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