Consumer Advisory: Risks to consumers posed by virtual currencies

The advisory warns consumers about bitcoin and other blockchain currency. Risks include the threat of hackers and scammers that pose serious security threats. Because bitcoin and other blockchain currencies are virtual, fraud and breaches of even of the most advanced systems have occurred. And, unlike banks and other financial institutions, a virtual currency company may not provide the same protections in the event of fraud or hacking. Additionally, the costs associated with virtual currencies are unclear and can be volatile.