How to protect yourself from a common investment scam.

A cryptocurrency investment scam occurs when someone is contacted by a fraudster on social media, a dating site, or other online platform, and then a relationship is established through regular communication. Once the scammer gains the victim’s trust, they suggest a too-good-to-be-true investment opportunity. The fraudster persuades the victim to invest, and then they disappear — along with the victim’s money.

Here’s how to protect yourself from these scams:

  • Thoroughly research every investment opportunity before putting any money into it and talk with a trusted financial advisor, like MSGCU, to ensure it’s real.
  • Avoid investments that guarantee quick, high returns and press you to act quickly.
  • Be wary of strangers who’ve contacted you “by mistake” and insist on forming a relationship with you.
  • Never send money to someone you met online and do not share sensitive information with them.

Visit the MSGCU Security Center for more tips to protect yourself from scams.

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