COLORADO SPRINGS — Have you heard of cryptocurrency? Some people believe online currency like Bitcoin will be the currency of the future. Investing in it, they are making money off of it as more people start to believe in its value. News5 is learning as the popularity of cryptocurrency increases, so do the number of scams.

Cybercriminals are finding ways to drain people’s cryptocurrency accounts in a matter of seconds and there’s no easy way for victims to recover their funds.

The Federal Trade Commission says cryptocurrency investment scams have cost Americans more than $80 million since October 2020. 44% of the victims are between the ages of 20 and 39. The FTC says victims lose an average of $1,900.

The Vidovic family learned the devastating impact of having their cryptocurrency wiped out. They had no idea their’s was at risk until someone drained cryptocoins worth nearly $170,000 from their online account.

Criminals hacked the Vidovics’ coinbase account using something called a “sim swap”. Someone contacted Tanja’s cell provider and pretended to be her and had her sim card containing her pictures, contacts and apps electronically transferred to a new phone. Allowing the crooks to use two-factor authentication to access her Coinbase account.

“The money we were looking forward to after we retire is gone. probably two-and-a-half years of my salary is gone,” said Tanja Vidovic. “They were able to make these changes and transfer all of our money via this app…

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