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Dion Guillaume, global head of public relations and communication at Gate.io, a cryptocurrency trading platform, classifies the most popular crypto scams into three major categories: Ponzi schemes ...
A rapid rise in ‘pig butchering’ scams. Cryptocurrency scams are known for their elaborate relationship-building methods to gain potential victims’ trust. According to the FBI, this can include:
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 ...
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.
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 ...
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.
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Marketed as a "play-to-earn cryptocurrency," it garnered immense attention and witnessed a meteoric rise in its price, surging by thousands of percentage points. [ 1 ] The creators of Squid Coin presented it as a revolutionary opportunity for investors to participate in an upcoming fan-made online game inspired by the Netflix series Squid Game ...