Police warn of celebrity-endorsed cryptocurrency scams – The Kingston Whig-Standard

If a celebrity-endorsed cryptocurrency ad seems too good to be true, it probably is, Kingston Police warn.

There are a number of scams involving cryptocurrencies, such as non-fungible tokens (NFTs) or bitcoin, and some of those ads feature celebrities.

Cybercriminals are using well-known public figures previously associated with other cryptocurrencies to sell theirs.

To protect oneself against scams, Kingston Police recommends: distrusting any get-rich-quick schemes; waiting before investing to see if the cryptocurrency project is still active after several days, which, if it is, means it’s less likely to be a scam; and to do your own research instead of trusting a celebrity endorsement.