India freezes digital assets WazirX, linked with Binance The developers of Shiba Inu have announced a new mobile game Binance received a subpoena over Elon Musk's refusal to buy Twitter The New York authorities fined the crypto platform Robinhood for $30 million North Korean hackers forge CVs to join U.S. crypto companies A new unknown investor bought bitcoins for $3 billion Binance employee claims loss of 90% of customers and billion dollars in revenue MetaMask users face a phishing attack Unknown hacked almost 8 thousands crypto wallets on Solana

Scammers stole $1 billion from investors' wallets last year

Scammers stole $1 billion from investors' wallets last year

More than 46,000 investors have lost a total of more than $1 billion since 2021, the Federal Trade Commission reported.

According to Reuters, about 50% of the stated number of investors reported that the fraud scheme originated with a promotional post on social networks like WhatsApp, Telegram, and others. The commission estimates that about $575 million of the reported amount was stolen due to fraud involving "investment opportunities."

Analysts also estimated that the average reported loss for each investor was $2600. The main cryptocurrencies used by the scammers were bitcoin, tether, and ether.

Notably, the figures from blockchain analytics firm Chainalysis reveal exactly the opposite picture. According to the firm, cryptocurrency fraudsters stole $7.7 billion in 2021, which is more than 80% more than the amount stolen in 2020.

Such a big difference between the data provided by the Commission and Chainalysis can be explained by the fact that the U.S. regulator relies on officially filed fraud complaints to estimate the fraud scale. On the other hand, Chainalysis uses on-chain data for estimation.

Subscribe to our Telegram channel for the most relevant, interesting, and informative news from the crypto industry.

0
Is there an error in the article?
To report