The FBI Baltimore office warns about the rise of 'pig butchering' cryptocurrency investment scams in Maryland, resulting in significant financial losses for victims.
The latest Cointelegraph video discusses the 'Pig Butchering' scam, where unsuspecting victims are lured into fake crypto investment schemes.
Cryptocurrency fraud has surged 45% in 2023, leading to $5.6 billion in losses, as reported by the FBI. Investment scams are a major contributor to these losses.
FBI reports a 45% rise in crypto fraud, with $5.6 billion lost. 71% of the losses were from investment scams.
Australia's ASIC has dismantled over 600 crypto scams in a year, warning that AI and deepfakes are complicating scam detection. On average, 20 scam sites are taken down daily. Investment scams lead to significant financial losses.
Blackrock, managing $10.5 trillion in assets, warns of rising cryptocurrency scams utilizing its brand for fraudulent investments and training offers.
HSBC Australia will block customer payments to crypto exchanges starting July 24, 2024, due to concerns over crypto-related investment scams.
Japan's Financial Services Agency warns investors of rising cold calling scams in the crypto market, where fraudsters pose as legitimate firms and disappear after payment.
