Decrypting cryptocurrency scams: FTC hosts workshop in Chicago

You can say this about scammers: They tend toward the trendy. As new products and services enter the marketplace, it’s not long before fraudsters find a way to exploit consumer interest in the innovation to make a quick buck. Cryptocurrencies are no exception, which is why the FTC is hosting a workshop in Chicago on June 25, 2018, Decrypting Cryptocurrency Scams.

We’ve already seen the traditional troika of deception – false money-making promises, misleading performance claims, and bad ol’ bait-and-switch – applied to promotions involving cryptocurrency. On June 25th, we’re bringing together consumer groups, law enforcement agencies, researchers, and private sector representatives to explore how scammers are exploiting the interest in cryptocurrency and what needs to be done to empower and protect consumers.

Decrypting Cryptocurrency Scams is free and open to the public. The conversation will begin at 1:00 Central Time at DePaul University, located at 1 East Jackson Boulevard, Suite 8005, in Chicago. Pre-registration isn’t required, but it would help us for planning purposes if attendees could send a quick “Count me in” email to fintechseries@ftc.gov. We’ll also webcast the event live so you can watch from your desk or phone.