US FTC warns of romance scams that lure people into fake cryptocurrency investments

The U.S. Federal Trade Commission (FTC) has issued a warning about romance scams using cryptocurrencies. Scammers use romance as bait to lure people into fake investments, especially cryptocurrencies, the federal agency explained. The FTC report shows that the 2021 figure is almost five times the 2020 figure and more than 25 times the 2019 report. And in 2021 alone, it lost $547 million. The FTC is an independent agency of the U.S. government whose primary mission is to enforce U.S. civil antitrust laws and promote consumer protection.