Cryptocurrency scams: 46,000 people cheated, 7,775 crore hit; A message on social media caused

 

Cryptocurrency Scams 

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Cryptocurrency Scams: 

Cybercriminals seem to be taking advantage of the increased popularity of cryptocurrencies in the last few months. People have lost a whopping Rs 7,775 crore in the cryptocurrency scam since 2021.

Highlights:

• Fraud is taking place in the name of cryptocurrency.

• People lost a whopping Rs 7,775 crore.

• The FTC advised to beware of such scams.

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New Delhi: Cryptocurrency Scams:

The number of people investing in Web3 and cryptocurrencies has increased. So now cyber criminals have also become active and are committing fraud on a large scale. According to reports, people have lost 800 million pounds (about Rs 7,775 crore) in the scams that took place since the beginning of the year 2021 till now. Cryptocurrency has been scammed with 46 thousand people so far. The Federal Trade Commission (FTC) reported this last week. Nearly half of those who lost money in scams say it started with public and social media messages. There was a sudden surge in the popularity of cryptocurrencies last year. People around the world are investing in digital currencies.

Last year, Bitcoin's popularity increased. Many are investing in it. According to reports, the cryptocurrency is on top when it comes to frauds on apps like Instagram, Facebook, WhatsApp and Telegram. Cryptocurrencies have caused a loss of $4 out of every $10 in frauds through social media. According to the FTC, a person associated with a cryptocurrency has lost an average of $2,600 (around Rs 2,02,000). The greatest damage has been in Bitcoin, Tether and Ether.

This year, Dogecoin's co-founder Billy Markus called 95 percent of cryptocurrency products scams. The FTC has advised people to stay aware of such scams. Meanwhile, the Reserve Bank of India is advising people not to invest in cryptocurrencies. In November last year, bitcoin's price had reached a record high. The price of bitcoin was $69,000 (about Rs 53.6 lakh). It now stands at around Rs 23.41 lakh.

FAQ(Frequently Asked Questions)

Q1- How much money have people lost in scams since 2021?
Ans- 800 Million Pounds (Rs 7,775 Crore)

Q2- Who advised people to beware of cryptocurrency scams?
Ans- Federal Trade Commission (FTC)

Q3- Who has become active and are committing fraud on a large scale?
Ans- Cyber Criminals

Q4- How many people have been scammed with cryptocurrency?
Ans- 46 Thousand People

Q5- What is the name of the cryptocurrency that is on top when it comes to frauds on apps like instagram, facebook, whatsapp and ?
Ans- Bitcoin

Q6- What are some of the most popular social media scams?
Ans- Instagram, Facebook, Whatsapp And Telegram

Q7- How much has a person associated with a cryptocurrency lost on average?
Ans- $2,600

Q8- What three cryptocurrencies have caused the most damage?
Ans- Bitcoin, Tether And Ether


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