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Bitcoin (CRYPTO: BTC) may be on the cusp of truly going mainstream, but the crypto market continues to see no shortage of new scams. And it doesn't matter how big or sophisticated of an investor ...
For those who may have been targeted by a crime or scam—whether or not it's crypto-related—the FBI encourages individuals to file a complaint with its Internet Crime Complaint Center (IC3).
“Never send money or crypto to anyone, even your friends, unless you double-check with them through another platform.” A reputable financial advisor can help you avoid scams, too. Be careful ...
Notably, crypto-related investment scams are the most reported to the CAFC, yet fewer than 5% of scams are reported overall, suggesting the true scale of the issue is likely much larger.
In 2024, crypto fraud is estimated to reach US$12.4 billion, of which high-yield investment program (HYIP) scams and pig butchering scams contributed 50.2% and 33.2% respectively, and pig butchering scams grew at the rapid rate of 40% over previous one year. [126]
Every year, more and more people fall prey to scams. Data from the Federal Trade Commission shows that in 2021, consumers reported losing more than $5.8 billion to fraud. That's a 70% increase from...
Recovery of Funds: The liquidators successfully recovered 1,281 BTC (worth approximately R1.05 billion) from the sale of BTC held by Belize-based broker FXChoice. [2] This recovery was a significant step towards compensating the victims of the scam.
The vast majority of people who reported losing money to crypto fraud involving a kiosk — or a crypto ATM — were over 60, according to the FBI. People in that age group lost more than $124 ...