Online retailer requires consumers to pay via money transferring apps and fails to deliver orders or issue refunds

Businesses are encouraged to apply for BBB’s most prestigious honor, dedicated to highlighting ethical practices in the marketplace.

Reputable Portland business leader is the newest addition to BBB Great West + Pacific’s board

Cryptocurrency is ripe for fraud and financial loss. Reported losses to BBB have tripled over the last two years.

Media Contacts:

BBB Great West + Pacific | pr-communications@thebbb.org 

(Boise, ID) Thursday, March 24, 2022 – Cryptocurrency is the hot new trend in investing, and much is still not understood about this buzzy, volatile digital payment system that does not rely on banks to verify transactions. This has created a fertile environment for scams, according to a new in-depth investigative study by Better Business Bureau® (BBB®), which states: “A virtual tug of war exists between the legitimate and fraudulent use of cryptocurrency.”

Cryptocurrency scams climbed to second riskiest in 2021, according to BBB report. Online purchase scams remain #1 riskiest.