CFTC Warns of Rising Impersonation Scams Targeting Cryptocurrency Victims

The US Commodity Futures Trading Commission (CFTC) has issued warnings about a growing wave of impersonation scams where fraudsters pose as CFTC officials to extract money, personal information, or digital assets from victims.

The scammers target people who have already been victimized by cryptocurrency fraud and claim the agency can assist in recovering their lost funds for an upfront payment. The CFTC has stated that it does not request money from the public, nor does it ask for personal details or solicit digital assets.

These scams are part of a broader trend of government impersonation fraud, which has drawn attention from organizations like the ABA Foundation. Government agencies have reported that these scams have cost Americans $445 million in losses over the past year.