GM Explorer,

The rise of crypto scams is through the roof! Today, we're shedding light on some of the deceptive tactics scammers use so you can stay one step ahead.

Here’s what we got for you today:

• 📲 Florida Woman loses millions to play store app

• 🧱 Around The Block: How Americans are losing their life savings to crypto fraud.

📲 Florida Woman loses Millions to Play Store App

A Florida resident named Vaca is suing Google, claiming that their failure to prevent scam apps on the Play Store caused her to lose over $5 million and her real estate business.

Here's what happened:

Vaca invested $4.6 million in cryptocurrency through an app called Yobit Pro, which she downloaded from the Google Play Store.

At first, everything seemed to be going well. She had made significant gains, and her balance showed $7 million.

However, her excitement turned to dismay when she tried to withdraw the cash and was hit with unexpected "tax" demands.

She was told to deposit an additional $500,000 for taxes, which she did. However, when the app requested a further $2 million, she became suspicious and refused to pay.

It's at this point that the threats started rolling in!

She received threatening messages on WhatsApp from unidentified cyber-criminals, including threats to kill her if she did not make the deposit.

Vaca contacted law enforcement and the Consumer Financial Protection Bureau (CFPB), which then alerted Google about the issue.

There is a real threat out there, and the last thing we want is for you to lose all your gains to a scam.

CNBC just released a video documentary covering a new technique scammers are using to get money from people.

It's called “Pig butchering.” Here's the link to the video.

🧱 Around The Block

• How Americans are losing their life savings to crypto fraud.

• Ethereum price wobbles as inflation sees 210,000 added to circulation.

• Each Norwegian now indirectly holds $27 in Bitcoin.

• Spot Bitcoin ETF inflows jump 223% as the crypto market corrects.

• 20% of the top 300 cryptos have the majority of their supply locked.

• Cardano’s Charles Hoskinson launches $1 Million bounty for Lace Paper Wallet.

• Apple’s partnership with Circle (USDC) could open $15.7 Trillion market for Ethereum.

That's all we've got for you today.

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Catch you soon.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions.