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Cyber Security

Over $80 million lost to cryptocurrency investment scams since October

The US Federal Trade Commission says that over $80 million were lost to cryptocurrency investment scams since October 2020. The median amount consumers lost to scammers was $1,900. The most vulnerable group to this type of scam were consumers aged 20 to 49 who were five times more likely to lose money, with more than half of all investment scam losses they reported (roughly $35 million) being linked to cryptocurrency. Over $2 million worth of cryptocurrency was lost to fake Elon Musk impersonators during the last six months.

Source: https://www.bleepingcomputer.com/news/cryptocurrency/over-80-million-lost-to-cryptocurrency-investment-scams-since-october/

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