Special Things.
- There has been a 53 percent increase in these scams last year.
- In this, the lure of getting higher returns is given.
- There has been an increase in crypto related fraud cases in India too.
Cases of scams related to cryptocurrencies have increased in the last few years. America’s Federal Bureau of Investigation (FBI) has reported that these scams have increased by 53 percent last year. Regulators in some countries have prepared to make rules for the crypto segment to deal with this problem.
The FBI has said in a report that last year, fraud under the guise of investment in cryptocurrencies increased to $3.94 billion. Last year, people had lost approximately $2.57 billion in these frauds. In such scams, fraudsters offer crypto-related investment advice and ask people to invest money in fake tokens. In this, the lure of getting higher returns is given. Generally, social media platforms like Facebook and Twitter are used to trap people in this scam.
In most crypto scams, the stolen funds are sent to crypto platforms through custodial accounts registered with them. The FBI has asked people investing in crypto to enable two-factor authorization so that their funds cannot be transferred to other accounts without their permission.