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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.
As cryptocurrency battles its way into the mainstream, the volume of fraud and scams associated with the unregulated payment system has forged ahead.
Americans lost $5.6 billion to cryptocurrency scams in 2023, a 45% increase from 2022. The FBI's 2023 cryptocurrency fraud report highlights the rise in crypto investment scams.
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
Rug pulls: This scam is when the founders of a cryptocurrency disappear one day and take all their tokens (attached to your money) with them. Pump and dumps: In this instance, creators of the coin ...
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 ...
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 ...
People in the U.S. reported losing $5.6 billion to cryptocurrency scams in 2023, with older people hit the hardest, according to the FBI. The FBI’s first annual Cryptocurrency Fraud Report, ...