Social media blamed for $1B in crypto scam losses in 2021
Cointelegraph
Published Jun 05, 2022 10:56PM ET
Updated Jun 06, 2022 12:40AM ET
The United States Federal Trade Commission has labeled social media and crypto a “combustible combination for fraud,” with nearly half of all crypto-related scams originating from social media platforms in 2021.
Published on Friday, the report found that as much as $1 billion in crypto has been lost to scammers throughout the year, which was more than a five-fold increase from 2020, and nearly sixty times up from 2018.
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Written By: Cointelegraph
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