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On July 12, 2025, the Maryland Securities Division issued a warning to investors about the increased risks of cryptocurrency scams in the state. The division stated that they have seen a surge in fraudulent schemes targeting unsuspecting investors looking to capitalize on the booming cryptocurrency market.According to the division, scammers are using various tactics to deceive investors, including pump-and-dump schemes, fake initial coin offerings (ICOs), and phishing scams. These scams often promise high returns with little to no risk, leading investors to fall victim to their deceptive practices.The division urged investors to exercise caution when considering investments in cryptocurrencies and to thoroughly research any opportunities before providing any personal information or funds. They also advised investors to be wary of unsolicited investment offers and to only work with registered brokers or financial advisors.In addition to warning investors about cryptocurrency scams, the Maryland Securities Division also announced that they have taken legal action against several individuals and companies involved in fraudulent activities. They noted that anyone found engaging in unlawful securities practices would be held accountable to the fullest extent of the law.The division encouraged investors to report any suspicious activity or potential scams to the authorities to help protect themselves and others from falling victim to fraudulent schemes. They also advised investors to stay informed about the latest developments in the cryptocurrency market and to seek guidance from reputable financial professionals before making any investment decisions.In conclusion, the Maryland Securities Division emphasized the importance of staying vigilant and informed in the face of increasing risks in the cryptocurrency market. They urged investors to exercise caution and to report any suspicious activities to prevent further harm to unsuspecting individuals.