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1. Social Media Scams. One of the most common types of cryptocurrency scams occurs on social media platforms. Here, malicious actors impersonate well-known brands or celebrities to promote their ...
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 ...
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 ...
The theft involved the hackers using social engineering tactics to impersonate a recruiter on LinkedIn and send a malicious pre-employment test to an employee at a crypto wallet software company. This allowed them to compromise the employee's system and manipulate a legitimate transaction request from DMM, resulting in the loss of 4,502.9 Bitcoin .
The Bitfinex cryptocurrency exchange was hacked in August 2016. [1] 119,756 bitcoin, worth about US$72 million at the time, was 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 that contained addresses and private keys associated with the stolen funds. [3]
Pig butchering cost Americans $5.6 billion last year. The term, used by scammers to describe crypto investment schemes, was especially apt in 2023, as losses increased 45% over the 2022 totals ...
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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