Research: Over $11 Million Lost in Bitcoin Scams Since 2011
Scams promising bitcoin riches have netted swindlers at least $11m in the last four years, researchers have found. Some 13,000 victims handed over their money unwittingly in 42 different scams over that time period, their data suggests. However, the total amount of funds cheated from victims over this period is almost certainly higher than the estimated $11m the research identified. A co-author of the research, Marie Vasek, said: "There are a lot of scams that we couldn't measure at all. There were scams we couldn't find or verify ... We think presenting our findings as they are, a lower....
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Did you know that approximately $11 million in bitcoins have been stolen since the year 2011? I had a hard time believing it myself, but according to researchers, that's exactly what's happened, and about 13,000 people have fallen victim to an estimated 42 different bitcoin scams over the past four years. Co-author of the research, Marie Vasek explains: "There are a lot of scams that we couldn't measure at all. There were scams we couldn't find or verify... We think presenting our findings as they are, a lower bound, makes a lot of room for us and others to further quantify scams in this....
Should you be worried about the previous or the next Bitcoin Scam? Bitcoin adoption is seeing a rapid surge across the world in recent months. The latest report of Juniper Research's forecast on the Bitcoin community hitting 5 million users by end of 2019 doesn't come as a surprise. As its adoption grows, the number of people trying to scam the users of their Bitcoin also grows. Using Common Sense against Bitcoin Scams. No, you don't have to be worried about Bitcoin scams. All you have to do is, ask a few questions and do some basic research to make sure that you have covered all your....
Crypto scams are victimizing more and more unsuspecting Kenyans. The cabinet secretary of Kenya’s Ministry of Information and Technology, Joe Mucheru, announced during a conference addressing the threats to law and order in the country that the past financial year, Kenyans lost almost $120 million to crypto scams. According to reports, Kenyans are being dragged […]
People over 55 and under 64 years of age represent the largest age bracket who have fallen prey to scams. Australians have continued getting duped by investment and crypto-related scams, losing 242.5 million Australian dollars to scammers so far in 2022, according to Scamwatch’s latest data. From January to July of this year, the majority of all funds lost to scams of all types were investment scams, which range from romance baiting scams to classic Ponzi schemes and cryptocurrency scams.The figure is already 36% higher than the figures across all of 2021, which revealed that Australians....
In 2021 alone, victims within the FBI San Francisco division’s territory lost more than $64 million to romance scams, compared to just over $35 million in 2020. The United States Federal Bureau of Investigation (FBI) has issued a warning against the rise in romance scams in the San Francisco Bay Area, with the latest trend involving cryptocurrencies. Just a few days ahead of Valentine’s day, the FBI San Francisco field office alerted the public about the rise in romance scams based on the complaints filed with the FBI’s Internet Crime Complaint Center (IC3). A romance scam involves....