The surge in cryptocurrency scams in 2023, as reported by the FBI, underscores the growing prevalence of digital currency in online crime. With losses reaching $3.94 billion, a 53% increase from the previous year, these scams represent a significant portion of overall investment frauds, which amounted to $4.57 billion.
Cryptocurrency scams encompass a range of deceptive practices, including fake investment opportunities, fraudulent initial coin offerings (ICOs), Ponzi schemes, and phishing attacks targeting crypto wallets and exchanges.
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Source: The UBJ News