Cryptocurrency Fraud Cost The Government £ 2 Million

The UK National Police cited data on fraud in which victims reported 203 cases of fraud with cryptocurrencies for a total of just over £ 2 million ($ 2.54 million).

In an announcement published on August 10th, Action Fraud, the National Anti-Fraud and Cybercrime Center in the UK, warned the public about scammers who are pushing investment schemes related to the mining and trading of cryptocurrencies.

Scammers target victims through social networking platforms. Then the victims are persuaded to open a trading account on these “cryptocurrency investment sites”, revealing their personal information, including their credit cards.

After the initial minimum deposit to the trading account, the victims are recommended to “invest” further for additional profit. In some cases, victims who understand that they have been deceived are not lucky, as they detect fraud only after the website is deactivated, and the suspects can no longer be contacted.

London City Police Department, received 203 reports on fraud related to cryptocurrencies, from June 1 to July 31 this year, with a total loss of £ 2,059,501.29.

For anyone who invests or thinks to invest in cryptocurrencies, it is important to carefully research the company in which they prefer to invest. Statistics show that adventurers are using this, offering investments in cryptocurrencies and using every opportunity to deceive unsuspecting victims.

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