BBB warns of cryptocurrency scam in Miami Valley

DAYTON, Ohio (WDTN) – The Dayton chapter of the Better Business Bureau is warning residents in the Miami Valley against a scam involving cryptocurrency, or digital money.

The BBB says a Kettering man was scammed out of $13,000 by a company that promised to refund his money, but instead kept it and banned him from their website.

Protections for cryptocurrency are different than protections for U.S. dollars. Knowing that cryptocurrencies are not easily refundable, scammers will promise victims of a money-back guarantee or a big payout. They also promise anonymity, but encrypted logs of cryptocurrencies can easily be traced back to people’s money and information.

According to the BBB, there are a few things you can do to protect yourself against scams involving cryptocurrencies:

• Educate yourself on the difference between cryptocurrencies and U.S. dollars, including the fact it does not have the same legal protections as U.S. dollars.
• Be wary of investing with…