Financial Insights That Matter
CHICAGO (WLS) — Here’s a quick cryptocurrency scam tip.
According to the FBI, consumers lost about $5.6 billion in cryptocurrency fraud in 2023.
ABC7 Chicago is now streaming 24/7. Click here to watch
Some experts are warning that it’s a crypto scam crisis.
The investment law firm Carlson Law says its recent study shows Illinois ranks sixth in the nation, with a staggering 74% increase in investment fraud.
Scammers are using artificial intelligence-generated videos featuring fake images of Elon Musk or Jeff Bezos promoting bogus opportunities.
There are also reports of scammers capitalizing on the hype around the legitimate $Trump and $Melania crypto coins.
When investing, only use trusted crypto exchanges.
Find them on your own after researching instead of responding to phishing links.
Consult a financial advisor.
If you see a crypto video ad, you can spot a deepfake by looking for unnatural blinking, mismatched audio or inconsistent visuals.
Copyright © 2025 WLS-TV. All Rights Reserved.
#1a73e8;">Boost Your Financial Knowledge and Achieve Stability
Discover a growing online community dedicated to delivering financial news, tips, and strategies designed to help you manage money effectively, save smarter, and grow your investments with confidence.
#1a73e8;">Top Financial Tips for Saving and Investing
- Personal Finance Management: Master the art of budgeting, expense tracking, and building a strong financial foundation.
- Investment Opportunities: Stay updated on market trends, learn about stocks, and explore secure ways to grow your wealth.
- Expert Money-Saving Advice: Access proven techniques to reduce expenses and maximize your financial potential.