Consumers reported losing more than $80 million to cryptocurrency investment scams between October 2020 and March 2021, an amount 10 times higher than the same period a year earlier, according to the Federal Trade Commission.
Experts say the scammers often rely on social media, stealing users photos and videos to create fake profiles that lure in victims with the promise of huge returns on a crypto investment.
Several Instagram users told CNBC they have been reporting imposter accounts for years and