Head of Republic Crypto Andrew Durgee weighed in on the warning from the Federal Bureau of Investigation that cryptocurrency investors have been defrauded of tens of millions of dollars.
The FBI warns that cyber criminals have been creating fraudulent crypto investment apps to exploit legitimate investments.
"Actually I like the FBI being more and more involved," he continued. "I think their digital securities group is becoming more and more active and it’s going to help protect individuals throughout the U.S." According to the advisory released Monday by the FBI, cybercriminals have been creating fraudulent crypto investment apps to exploit legitimate investments, defrauding investors and harming the reputations of investment firms in the U.S.
The agency noted that cybercriminals have been "trying to take advantage of the increased interest in mobile banking and cryptocurrency investing" and that 244 people have already fallen victim to the scam. The FBI warned that the criminals use the names, logos and other identifying information of legitimate companies and have even created fake websites with the information.
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