LAFAYETTE, La. ( KLFY) — There’s a new ‘get-rich-quick’ scheme on TikTok.

Scammers are targeting TikTok users using fake cryptocurrency investments. They make videos that go viral and send private messages to users telling them that if they support their investment with cryptocurrency, they’ll make a lot more money. The scam is that the investment is not real.

These videos and messages often look real because scammers build their profiles over time. They create and update accounts to make it look legitimate.

How To Avoid Cryptocurrency Scams

• Use good judgment. Get-rich-quick schemes are almost always too good to be true.
• Do your research. Look up the name of the company they are asking you to invest in. You can search on BBB Scam Tracker for scam reports.
• Don’t give into scare tactics. “Investors” will often try to convince you that the investment will only work if you act immediately.
• Understand how digital wallet services work. Once you send cryptocurrency, you may not be able to get it back if you’re scammed.
• Find a trusted financial advisor to help you . If you are interested in investing, look for a BBB Accredited financial consultant to help you.

Thanks for signing up!

Watch for us in your inbox.

Subscribe Now

KLFY Daily Digest

Latest News

• Mattel releases first Diwali Barbie doll
• Ohio woman’s viral TikTok videos lead prompt search for body in her yard
• St. Landry housing authority headed in ‘right direction’ with new chairperson, parish president says
• Lafayette to show plans for Evangeline Thruway to the public on Monday
• New Iberia woman claims she lost $900 in car sale scam

For the latest news, weather, sports, and streaming video, head to KLFY.com.