Cryptocurrency Trading Risks
What are the risks of investing in cryptocurrency? The virtual currency market reached approximately $2 trillion in capitalization.
$2T
Market capitalization in 12 years
$80M+
Lost by 7,000 Americans (Oct 2020 - Apr 2021)
12x
Increase in crypto fraud losses year-over-year
Major Scam Categories
Fake Exchanges
Criminals create counterfeit trading platforms mimicking legitimate exchanges to deceive investors into depositing funds that are immediately stolen.
Social Media Exploitation
In July 2020, hackers hijacked verified Twitter accounts of celebrities and major brands, posting false offers to double bitcoin sent to specific addresses.
Extortion & Ransom
Bitcoin extortion scams increased 1,300% during one month of the COVID-19 pandemic. Kidnappers in at least 12 countries have demanded bitcoin ransoms since 2015.
Bitcoin Scams Are Inventive
As the cryptocurrency market has grown, so has the sophistication of scams targeting investors. From fake exchanges to social media exploitation, criminals continue to find new ways to defraud unsuspecting victims. Understanding these risks is the first step toward protecting your investments.
Lost Money to a Crypto Trading Scam?
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