Fraudsters Capitalize on Facebook Scam to Steal Thousands in Bitcoin

• Scammer ripped people of thousands of dollars in a recent Facebook scam that has become popular

• The scammers hack into the social media profiles of your friends and convince you to invest in Bitcoin

• A Virginia man who fell victim to this scam has lost $500, after being lured in with an opportunity to win $10,000

Scammers are getting smarter and innovating new methods to rid you of your hard-earned money.

The method of scamming which has become popular recently involves them capitalizing on the trust you have in your friends.

The fraudsters hack into the social media profile of your friends, usually Facebook, and talk to you about investing in bitcoin.

The Facebook scam is highly enticing because people are told that they can turn their $500 into $10,000.

Imagine a friend on social media sending you a message to inform you about a golden opportunity to make money, you’ll take it, right?

That’s what they count on!

According to News 3, Joshua Banks, a Virginia Beach man narrated how a member of his family fell victim to such scams.

The victim was approached by one his close friends on Facebook and advised to invest in Bitcoin mining as a means to make some money.

Supposedly, he only had to drop $500, with the opportunity of winning up to $10,000 from the crypto investment.

The victim although initially skeptical decided to invest in the “bitcoin mining” but it did not go as be planned.

It wasn’t until the Bitcoin mining account wa paused and he was told to pay more to get the money out that he realized that he had been scammed.

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That is not the only incident of such a Bitcoin Facebook scam. In Portsmouth, someone lost $11,000 while trying to invest in the “bitcoin market”.

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