Cryptocurrency

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/explosion-of-cryptocurrency-scams-leads-to-record-investment-losses-in-the-us">Explosion of Cryptocurrency Scams Leads to Record Investment Losses in the US</a><br></p>
<p style="text-align: justify"> The FBI has sounded the alarm on the surge in <a href="https://en.bitcoinhaber.net/bitcoin-bounces-back-k33-research-offers-hopeful-insights">cryptocurrency</a> investment scams, which have led to unprecedented financial losses in the US during 2023. The agency’s findings reveal a worrying 53% rise in crypto-related investment fraud cases, compared to the previous year, amounting to nearly $3.94 billion in losses and accounting for 86% of the total investment fraud losses nationwide. </p> 
<h2 id="crypto-scams-a-growing-menace">Crypto Scams: A Growing Menace</h2> 
<p style="text-align: justify"> The FBI’s report points to a concerning uptick in crypto scams, with fraudsters employing various tactics to swindle investors. These criminals often entice victims with high-return promises, only to vanish after collecting significant sums. Romance scams have emerged as a particularly prevalent method, where individuals are manipulated into sending cryptocurrency based on fictitious romantic connections. </p> 
<p style="text-align: justify"> In December 2023, blockchain analytics company Chainalysis shed light on the extent of losses from romance scams, estimating a staggering $374 million in cryptocurrencies. The pervasiveness of these schemes is underscored by the over 324,000 users affected in 2023 alone, with phishing scams contributing substantially to the exploitation of crypto wallets. </p> 
<h2 id="global-reach-of-crypto-investment-frauds">Global Reach of Crypto Investment Frauds</h2> 
<p style="text-align: justify"> The epidemic of crypto investment scams is not confined to the US, with similar patterns emerging in nations across the globe. The Australian Competition and Consumer Commission reported a 162.4% surge in losses to crypto scams in Australia, totaling $146.9 million in 2022. These figures illustrate the international challenge posed by the crypto scam phenomenon, emphasizing the need for vigilance among investors worldwide. </p> 
<p style="text-align: justify"> As cryptocurrency gains further integration into the mainstream <a href="https://en.bitcoinhaber.net/bitcoins-stability-in-the-spotlight-as-peter-schiff-critiques-federal-reserve-tactics">economy</a>, investors are advised to approach opportunities with increased scrutiny to safeguard their assets against sophisticated and emotionally manipulative fraud schemes.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/explosion-of-cryptocurrency-scams-leads-to-record-investment-losses-in-the-us">Explosion of Cryptocurrency Scams Leads to Record Investment Losses in the US</a></h5>

Explosion of Cryptocurrency Scams Leads to Record Investment Losses in the US

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