Crypto Scams Targeted in Joint Educational Campaign

The U.S. Commodity Futures Trading Commission (CFTC), in collaboration with agencies such as the Securities and Exchange Commission (SEC), has launched a public education campaign focused on combating crypto-related scams, especially "pig butchering" schemes that use fake romance relationships.

The CFTC has partnered with the American Bankers Association Foundation, along with federal agencies such as the FBI and IRS, to create infographics designed to help consumers identify these scams. Meanwhile, collaborations with the SEC, the Financial Industry Regulatory Authority (FINRA), and the North American Securities Administrators Association (NASAA) have issued investor alerts warning the public against responding to unsolicited messages and encouraging them to report suspicious texts.