A stolen social media account can drain your wallet fast, as crypto scammers ramp up attacks nationwide, according to Spectrum News 1.
Hackers now hijack real accounts on platforms like X, Instagram, and Facebook. They pose as trusted friends or influencers and push fake crypto investments that lead to convincing—but fraudulent—websites. Experts say victims often send money straight to scammers without realizing it.
The surge is massive. The FTC reports nearly $2 billion lost to social media scams in 2024. Experts urge users to double-check links, enable two-factor authentication, and report scams quickly to police or the FBI.
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