California Agency Releases Guide to Combat Cryptocurrency Scams

According to PANews, the California Department of Financial Protection and Innovation (DFPI) has unveiled a glossary detailing 24 types of cryptocurrency scams, aiming to assist the public in identifying and avoiding fraudulent activities. As cryptocurrency scams pose an increasing threat to investors, scammers are employing more sophisticated methods to steal funds and personal information. The glossary highlights common tactics used by fraudsters, ranging from fake investment opportunities to identity theft and social engineering strategies. This initiative seeks to educate the public on the prevalent scams in the cryptocurrency sector, enhancing awareness and prevention efforts.