The popular social network TikTok is increasingly being used for cryptocurrency fraud. This warning was issued by the private nonprofit organization Better Business Bureau (BBB).

According to experts of the company, the rapid growth in popularity of the site provoked a large influx of criminals. This is evidenced by the statistics of appeals to the service Scam Tracker, where TikTok users actively publish their complaints.

Feedback from those who encountered fraudsters makes it clear that the criminals do not use cunning combinations or tricks, but lure victims with videos with large sums of money in the frame. The voice-over promises users to make their money grow through investments in digital assets. Next, those wishing to do so are invited to click on links to third-party messengers. Already in personal correspondence, the scammers provide details to transfer money to them, which will then allegedly be invested in cryptocurrencies.

When trying to return the funds sent, the attackers will point out that they need to pay a commission to do so. The Better Business Bureau warned that the criminals will swindle as much money as they can until the victim is finally convinced that they have fallen into a trap.