Crypto industry must keep scammers from stealing another $16 billion
Crypto scams don’t just impact investors but the credibility of the industry as a whole, stagnating crypto’s progress. Unsuspecting investors have lost $16 billion by buying into crypto projects they thought would be the next best thing. And that money is nearly impossible to recover. As the crypto industry established itself as a disruptor of currency and technology and as Bitcoin (BTC) began to gain traction in 2017, scammers took advantage of naïve investors interested in getting involved. Related: Crypto Crimes Rated: From the Twitter Hackers to Not Your Keyser, Not Your CoinsSpotting....
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Crypto scammers have defrauded more than 46,000 people over $1 billion since the start of 2021, according to a report released by the Federal Trade Commission on Friday. Fraudsters are capitalizing on the increased popularity of acquiring digital wealth quickly. With almost $1 out of every $4 in these frauds paid in cryptocurrency, the FTC […]
According to blockchain research firm Chainalysis, scam involving crypto reached an all-time high of $14 billion last year, a record that comes as regulators demand for more power over the fast-growing sector. Growing Interest In Crypto Fueled Most Scams Cryptocurrency crime set a new high in 2021, according to a recent analysis, with scammers stealing $14 billion worth of cryptocurrency. According to the “2022 Crypto Crime Report” released by blockchain data firm Chainalysis on Thursday, Jan. 6, that’s nearly double the $7.8 billion stolen by fraudsters in 2020. The....
In February 2022, the Ukrainian government ran a crypto donation campaign to support victims of the Russian invasion. When the nation tried to reward those who had contributed to the fundraiser by sending crypto wallet holders complimentary NFTs, a slew of scammers took advantage of the government’s generosity, causing the operation to cease. Rug pull scams like this, where cyber criminals drain money from unsuspecting investors, aren’t uncommon in the crypto space, unfortunately. Shortly following the Ukraine rug pull, in March this year, hackers discovered a weakness in the Ronin....
Crypto scammers have been busy making millions at the cost of iPhone users who were merely looking for romance on dating apps. Wherever there is great profit, fraud comes to trick its way into a promised land. The increase of scammers has been widely reported this year. They are a real danger for cryptocurrency users. […]
Crypto scams have been on the rise with the bull rally but scammers have found another medium to perpetuate their scams. YouTube has always been an effective marketing and influencing tool in the space, which is why it is sometimes a prime target for scammers. This time around, scammers have found another way to separate […]