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7. Crypto Ponzi: Mining or Staking Pool Scams. In the cryptocurrency space, Ponzi scams often target mining and staking pools, taking advantage of investors eager to engage with blockchain technology.
Investment and Cryptocurrency Scams With investment and cryptocurrency scams, fraudsters lure victims with promises of high returns on investments, often involving cryptocurrencies.
Unfortunately, scams involving crypto are all too common. In 2023, the FBI received more than 69,000 complaints of financial fraud that involved the use of cryptocurrency.
In 2018, around US$1.7 billion in cryptocurrency was lost to scams, theft and fraud. In the first quarter of 2019, such losses rose to US$1.2 billion. [ 6 ] 2022 was a record year for cryptocurrency theft, according to Chainalysis , with US$3.8 billion [ 7 ] stolen worldwide during 125 system hacks, [ 8 ] including US$1.7 billion stolen by ...
A pig butchering scam (in Chinese sha zhu pan [2] or shazhupan, [3] (Chinese: ĉçŞç), translated as killing pig game) [1] is a type of long-term scam and investment fraud in which the victim is gradually lured into making increasing contributions, usually in the form of cryptocurrency, to a fraudulent cryptocurrency scheme.
An exit scam is a confidence trick, con job or fraud, perpetuated under the guise of a legitimate business, that ends when the originator absconds with the funds contributed by participants. [1] When a business entity pulls the rug and stops shipping orders while receiving payment for new orders, it could take some time before it is widely ...
BOSTON (Reuters) -Three cryptocurrency companies and 15 people have been charged with engaging in widespread fraud and market manipulation following an investigation in which the FBI for the first ...
The FBI, in its first public national estimate of the scope of the problem, told OCCRP that losses in the U.S. from scams carried out via crypto ATMs exceeded $120 million in 2023.