According to the recent investigations, it can be clearly stated that the cryptocurrency scam is getting more popular in the year 2022.
According to the media reports, among the major popular attention seemed by the media is the cryptocurrency scam which is a quite high graph in the year 2022. Previously the money laundering via cryptocurrency is already in practice. As per the statistical report and figures, it can be estimated that at the end of April 432 million US dollars already been laundered by crypto criminals as per the Cipher Trace report. Among them, almost 56% of the share in terms of the laundered amount directly relates to Defi. Recent figures within the same spectrum are quite high as compared to 2020 where the victims lost 1.9 billion US dollars and in the year 2019 4.9 billion US dollars for the victims in terms of crypto scams.
As the recent crypto scam can be witnessed by the Elon Musk impersonator who was charged in terms of embezzlement of 2 million US dollars in terms of claims of investments multiplication within cryptocurrencies. In addition to that, the most notable crypto scam was reported by a British woman who lost all of her savings in terms of a total net worth of £9000 upon crypto investment.
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Other five indecipherable cryptocurrency scams
To consider measures and countermeasures in terms of cryptocurrency scams, it is important to understand the various aspects of crypto scams that have been adopted by criminals and hackers within the same spectrum.
Below mentioned is the scam list of the top 5 crypto scams of 2022.
Defi put off the stroke
Deaf is abbreviated as decentralized Finance with the core concept to modify and enhance the traditional concept of reading method and models as Defi delivers an opportunity to the users to secure the maximum interest in terms of profit via cryptocurrency among legit crypto platforms few scam platforms can able to steal the investment by ensuring higher profits and after of specific interval of time investors and lose all of their invested amount within the Defi scam investment platforms.
non-fungible token scams
Among the major and popular cryptocurrency scams are non-fungible tokens commonly known as NFT in recent times. Among the major risks in NFT includes the duplication risk because of the hashtags codes which are holding the powers, hence the scammers can easily utilize the NFT in terms of scams because as compared to others NFT are difficult to trace and recover by the authorities.
Pumps and dumps of Altcoin
In terms of small market caps, Altcoin is considered the most liquid penny stock. As per the flow frequency of the coin because of its flexible and frequent nature nowadays Altcoin is also under the heavy influence of scammers and crypto criminals.
Viruses and malware scams
Another strategic technique utilized by cryptocurrency criminals and scammers is to breach the investor’s wallet by utilizing viruses and Malware to gain access towards the cryptocurrency investor’s wallets. For the same reason now the cryptocurrency wallets are protected by two-factor authentication for the security purposes of the wallets.
Fake initial coin offering (ICO) is also another technique utilized by the scammers and cryptocurrency criminals to engage the investors ultimately can able to scam all of the invested amounts. As per the statistical record of 2017 the ICO scam rate was around 80% of the total cryptocurrency scams. Because of the measures and countermeasures taken by the relevant authorities, the above-mentioned percentage is being dropped in the next years but still fake ICO is among the major scam tools used by scammers and cryptocurrency criminals. According to the records, Big coin successfully was able to steal 6 million US dollars from crypto investors all around the world.
Warning of Federal Trade Commission on crypto investment scams
The federal trade Commission launched an official warning on May 17 in terms of official published reports on crypto investment scams. As per the records of the Federal Trade Commission (FTC), the amount lost by the investors via crypto scams can reach up to 80 Million US dollars. In addition to that, it can also be indicated that investors within the age group of 20 to 40 are the most favorite and major victims of crypto scammers and criminals throughout the globe.