Turn To Tara: New scams target digital investors

<p>Turn To Tara is offering tips to avoid getting scammed when investing digitally.</p>

News 12 Staff

Jan 15, 2018, 10:18 PM

Updated 2,382 days ago

Share:

Turn To Tara: New scams target digital investors
Turn To Tara is offering tips to avoid getting scammed when investing digitally.
Bitcoin mania has been sweeping the nation, with stories of people turning a few hundred dollars into millions. 
Brian Rauer, executive director of the Mid-Hudson Chapter of the Better Business Bureau, says con artists are increasingly capitalizing on all the excitement.
“You see businesses cropping up out of the blue,” says Rauer. “They’ll promise you 300 percent interest rates, double or quadruple your money, but what happens is once they steal enough of your money, they walk away.”
Rauer says people should watch out for phony virtual wallets that allow people to deposit their real digital currency but never take it out.
He says a Long Island man gave one of these companies legitimate bitcoin last month, and it cost him $4,000.
Rauer says people should also avoid exchanges that are vulnerable to hackers. Most importantly, he says people should do their homework and check up on businesses they are working with.


More from News 12
1:22
Police: 1 hospitalized in afternoon Mount Vernon shooting

Police: 1 hospitalized in afternoon Mount Vernon shooting

2:00
Thursday brings another unsettled weather day, but better forecast follows

Thursday brings another unsettled weather day, but better forecast follows

1:42
North Rockland man to compete in Olympic Games, representing Ireland in shot put

North Rockland man to compete in Olympic Games, representing Ireland in shot put

1:43
Poughkeepsie residents fight to keep adult shelter out of neighborhood

Poughkeepsie residents fight to keep adult shelter out of neighborhood

1:36
Greenburgh to fix one of its worst intersections

Greenburgh to fix one of its worst intersections

1:23
Officials criticize Social Security Administration for sudden closure of Newburgh offices

Officials criticize Social Security Administration for sudden closure of Newburgh offices

0:30
Residents question water tower repairs in Unionville after county violation notice

Residents question water tower repairs in Unionville after county violation notice

0:22
North Salem School Board places superintendent on administrative leave

North Salem School Board places superintendent on administrative leave

0:28
Wallkill man arrested for DWI, drug possession in Ulster County

Wallkill man arrested for DWI, drug possession in Ulster County

0:37
$5,000 reward offered for information on suspect in fatal shooting

$5,000 reward offered for information on suspect in fatal shooting

1:05
Headlines: Cocaine sentencing in Port Jervis, barn fire death, cause of plane crash released

Headlines: Cocaine sentencing in Port Jervis, barn fire death, cause of plane crash released

4:23
Sen. Bob Menendez to resign from office Aug. 20 following corruption conviction

Sen. Bob Menendez to resign from office Aug. 20 following corruption conviction

1:49
Mamaroneck tackles chronic flooding with new study and projects

Mamaroneck tackles chronic flooding with new study and projects

0:28
Susan Siegel projected winner in Yorktown council election

Susan Siegel projected winner in Yorktown council election

0:26
Woman stabbed in Yonkers domestic dispute, suspect arrested

Woman stabbed in Yonkers domestic dispute, suspect arrested

0:17
20-story mural completes transformation of downtown New Rochelle

20-story mural completes transformation of downtown New Rochelle

0:14
LEGOLAND New York seeks master model builder in 'Brick Factor Model Builder' competition

LEGOLAND New York seeks master model builder in 'Brick Factor Model Builder' competition

1:22
How are young Hudson Valley voters feeling about the possibility of Kamala Harris as the Democratic nominee for president?

How are young Hudson Valley voters feeling about the possibility of Kamala Harris as the Democratic nominee for president?

2:24
Tackling flooding in the Town of Mamaroneck, engineering consultant looks into options

Tackling flooding in the Town of Mamaroneck, engineering consultant looks into options

1:47
'I don't know what the answer is.' Newburgh residents may have to live with dangerous intersection indefinitely

'I don't know what the answer is.' Newburgh residents may have to live with dangerous intersection indefinitely