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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...
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).
This scam “fattens a potential victim with flashy fake direct messages, cars, houses, and photoshopped bank profiles with hundreds of thousands of dollars, hoping someone will give in and send ...
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 ...
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]
The good news is that you can take several basic steps to safeguard your crypto investments and steer clear of most crypto scams. Let's take a closer look. Use ETFs whenever possible.
The Bitfinex cryptocurrency exchange was hacked in August 2016. [1] 119,756 bitcoins, worth about US$72 million at the time, were stolen.[1]In February 2022, the US government recovered and seized a portion of the stolen bitcoin, then worth US$3.6 billion, [2] by decrypting a file owned by Ilya Lichtenstein (born 1989) that contained addresses and private keys associated with the stolen funds. [3]
According to the latest available data from the FTC, more than 46,000 people in the U.S. reported losing an accumulative $1 billion to crypto scams between January 2021 and June 2022. In 2021 ...