Hong Kong Investors Lost $50M From Crypto Scams in 2022 (Report)

Cryptocurrency scams are, unfortunately, a never-ending part of the industry, in which bad actors are trying to offer something too good to be true (usually to double one’s assets).

The latest example came hours ago when Apple had a live event in regards to the new iPhones, AirPods, and Apple Watches.

  • When the nearly 50-year-old tech giant announces the new generation of its product line, all eyes are typically on the company. This was the case yesterday when Tim Cook and co unveiled the new iPhones (14), AirPods, and Apple Watches.
  • However, bad actors were also prepared. Perhaps expecting people to be turning in to watch Apple-related videos on YouTube, scammers reshaped an old interview with the company’s CEO to promote a fraudulent crypto website.
  • According to the Verge, the video had “plenty of signs of being fake,” including a weird title – Apple Event Live. Ceo of Apple Tim Cook: Apple & Metaverse in 2022 and had tens of thousands of people watching at one point.
  • However, the bad actors had added the BTC and ETH logos on the stream and redirected viewers to a dubious URL that had nothing to do with Apple. The Verge said YouTube did remove the video after a while.
  • These types of crypto scams have been going on for a long time. The perpetrators usually use a famous brand or person to dupe victims into sending their cryptocurrency to their wallets while promising to double them in return.
  • While this sounds like a blatant scam (because it is), there have been numerous occasions where they proved to be profitable.
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