Investors lost $1 bln in crypto to frauds since 2021, social media top resort of scammers2 min read 05 Jun 2022, 07:29 PM IST
The new analysis by Federal Trade Commission states that fraud suggests cryptocurrency is quickly becoming the payment of choice for many scammers, with about one out of every four dollars reported lost to fraud paid in cryptocurrency.
The scamming saga in the cryptocurrency market seems to find no proper escape or a solution, at least as of now. While the extreme sensitivity of cryptos itself wasn't enough to keep investors on the edge, the fear of coming across fraudsters and losing hard-earned money has been a problem. A new analysis shows that investors lost more than $1 billion in cryptocurrencies to frauds from January 2021 to March 2022.
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