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Crypto Scams Are On The Rise With $24 Million Stolen In 2020 Alone

Emily Mason

Summary: A report released by Whale Alert on Friday, July 10 states that $38 million worth of Bitcoin alone has been stolen by scammers over the past four years. The report analyzed data collected using Whale Alert's new tool Scam Alert. It found that 63% of money stolen in scams over the past four years was ...

A report released by Whale Alert on Friday, July 10 states that $38 million worth of Bitcoin alone has been stolen by scammers over the past four years.

The report analyzed data collected using Whale Alert's new tool Scam Alert. It found that 63% of money stolen in scams over the past four years was robbed during the first 6 months of 2020.

Scams such as fake exchanges, fake IPOs, giveaways, or video scams are highly effective with minimal risk. The report estimates that by the end of 2020 the scamming industry in crypto will have grown by 20 fold since 2017.

By Emily Mason

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Link: Crypto Scams Are On The Rise With $24 Million Stolen In 2020 Alone   [Copy]
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