Cryptocurrency scams: $ 1 billion people drowned, scam involving 46 thousand people, nearly Rs 7775 crore gone, game played on social media
Cryptocurrency scams: Many people invest in cryptocurrencies to get high returns in a short period of time. There are also a large number of scams going on in this fast growing market. This is stated in a report. There have been cryptocurrency scams involving about 46,000 people since last year.
46,000 people fell victim to the cryptocurrency scam
About Rs. Loss of Rs 7775 crore
Scammers are tricking people through social media
The prevalence of Web 3 and cryptocurrency continues to grow. In such a situation, the scammers have started spreading their nets in this direction as well. According to a study, people have lost 800 million pounds (about Rs 7,775 crore) in scams since the beginning of 2021.
According to the report, there have been 46,000 cryptocurrency scams so far. This information was given by the Federal Trade Commission (FTC) last week.
How did the scam happen?
Nearly half of those who lost money in the scam said it started with an advertisement or social media message. The craze for cryptocurrency was very high last year. People all over the world were attracted to this digital currency.
Bitcoin was at its record level last year and this was probably the reason why people were pulling people towards cryptocurrency. According to the report, cryptocurrency is at the top of the list of frauds on top social media apps, including Instagram, Facebook, WhatsApp and Telegram.
Loss of four for 10 10 in cryptocurrency
For every $ 10 out of social media fraud, $ 4 is lost due to cryptocurrency. According to the FTC, the average person loses $ 2,600 (approximately Rs. 2,02,000) in cryptocurrency-related fraud. The biggest losers are Bitcoin, Tether and Ether.
In May of this year, Dogecoin co-founder Billy Marks described 95% of cryptocurrency projects as 'scams and rubbish'. The FTC has advised people to beware of such scammers.
However, the Reserve Bank of India has consistently advised people not to invest in cryptocurrencies. Bitcoin reached record highs in November last year. At the time, Bitcoin was worth હજાર 69,000 (about Rs 53.6 lakh). At the same time, the price of Bitcoin has gone up to Rs 23.41 lakh today.
22-Jan-2025