U.S. SEC Chairman Warns Investors of Five Common Types of Crypto Scams

U.S. Securities and Exchange Commission Chairman Gary Gensler issued an investor alert on Platform X warning of five ways scammers may lure victims into crypto-asset securities scams. According to the SEC, scammers often use emerging technologies such as cryptocurrencies to commit investment fraud. And it detailed the alert, outlining common types of cryptocurrency scams: 1. Promises of high returns and low risk. 2. Unlicensed sellers. 3. False testimonials and endorsements. 4. Manipulative trading strategies. 5. Phishing scams.