the federal trade commission estimates that victims of cryptocurrency scams have lost one billion dollars since 2021

According to fraud reports, one out of every four dollars is lost to crypto-related crimes. in addition to bitcoin, tether and ether were the two cryptocurrencies utilized most frequently by scammers. due to fraud, three times as many people between the ages of 25 and 40 have lost money. since its november peak of $69,000, the price of bitcoin has fallen by more than half. the sec hired more than a dozen new staff members last month as part of its efforts to avoid bitcoin fraud.

according to the ftc, even a well-intentioned, substantial cryptocurrency investment cannot be guaranteed to generate profits. with an average of $10,000 per victim, most frauds are romantic schemes. the federal trade commission (ftc) strongly discourages online dating services in conjunction with investment advice.

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