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Financial scams, including cryptocurrency schemes, cost consumers $3.8 billion last year just in the U.S., according to the Federal Trade Commission, twice as much as in 2021. Such scams are also ...
Fraudsters are using ads featuring a fake Jeremy Clarkson endorsement as part of a Bitcoin scam. Watchdogs are warning social media users about the ads, which urge people to invest in cryptocurrency.
In 2022, the US government recovered 94,636 bitcoin (worth approximately $3.6 billion at the time of recovery) from the 2016 thefts of the Bitfinex exchange, reported as the "largest financial seizure" in U.S. history. [64] By February 2022, the amount of bitcoin stolen in 2016 had increased in value to $4.5 billion.
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That same year, a report in the United Kingdom claimed that these scams cost the economy £150 million per year, with the average victim losing £31,000. [104] As of 2019, Nigerian letter scams still annually collect $700,000 ($834,205 in 2023 dollars [105]) or $2,133 ($2,542 in 2023 dollars [105]) per person. [106]
Monetary loss in the United States rose from $211 million to $475 million from 2017 to 2019. The number of cases of reported romance scams rose from 15,372 to 19,473 in those two years. [17] [18] "The FTC estimated on average $2,500 was sent to romance scammers in 2020, more than ten times the median loss across all fraud types.
In 2023 dollars, weddings in 2019 cost, on average, the equivalent of $35,435. In fact, wedding costs haven't changed much for decades—an average 1990 wedding cost $35,400 in 2023 dollars, ...
The U.S. Securities and Exchange Commission (SEC) has said that "these fraudulent schemes involve the purported issuance, trading, or use of so-called 'prime' bank, 'prime' European bank or 'prime' world bank financial instruments, or other 'high yield investment programs.' (HYIP's) The fraud artists ... seek to mislead investors by suggesting ...