While scams like these often only damage a single victim at a time, it can still be big money. NCET, along with other agencies, booked upwards of $112,000,000 from busting six such U.S.-based scams. The Federal Bureau of Investigation (FBI) estimates $3.31 billion was stolen from people in 2022 through investment fraud, with crypto-related scams accounting for more than a third (~$2.57 billion) of that figure. Worse than just money lost, the proliferation of confidence games – which require bad actors to cultivate long-term relationships and build trust with their marks – has tainted crypto’s reputation.
Source: https://www.coindesk.com/consensus-magazine/2023/05/11/whats-the-reality-of-crypto-in-crime/?utm_medium=referral&utm_source=rss&utm_campaign=headlines