Consumers are on their own in world of cryptocurrency — Scam Guards

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ORLANDO, Fla. — Cryptocurrency — which is basically digital money — has exploded in popularity in recent years, and a lot of people are curious about it. 

A lot of people are investing in it, too, including Jayson Moser.


What You Need To Know

  • Cryptocurrency funds, or digital money, can go missing overnight
  • Regulation is “very low to nonexistent,” UCF finance professor says
  • Without oversight, scams are common, Dr. Buvameshwaram Venugopal says
  • Only invest in cryptocurrency if you’re willing to risk funds, he says

Moser shared his experience with cryptocurrency as a warning for others.

Moser says he woke up to his Coinbase account wiped out, $2,000 gone overnight.

“It said zero, and I said, ‘Well, that can’t be right,’ ” Moser said.

So where did his money go? Moser said he didn’t have a clue.

“Eighteen emails later, 45 days later, no response. No meaningful non-automated response,”…

Read full article at scamguards.org