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Cryptocurrency fraud will increase by 90% year on year in 2020 From Bolster

The following is the Cryptocurrency fraud will increase by 90% year on year in 2020 From Bolster recommended by recordtrend.com. And this article belongs to the classification: Blockchain, Bitcoin.

Since the beginning of last year, the increasing value of cryptocurrency and the increasing acceptance of mainstream bitcoin have led to 400000 encryption scams in 2020, an increase of 40% over 2019. A new report from the next generation of fraud prevention company, bolster, which is driven by deep learning, predicts a further 75% increase this year based on the current level of suspicious activity.

The market value of all cryptocurrencies in the world reached a peak of US $1.7 trillion in January 2021, eight times higher than that in January 2020. Celebrities and major corporations, such as Tesla, have helped raise interest in bitcoin.

“Of all the different types of fraud, encryption fraud is the fastest growing category, and we are just the beginning of this new wave of digital theft,” said Shashi Prakash, co-founder and CTO of bolster We continue to see that cheaters are opportunistic and design activities that focus on real-time trends, and people may not be alert enough because it’s too new. “

The cryptocurrency fraud report is based on an analysis of more than 300 million websites to identify those related to cryptocurrency fraud. The analysis covers bitcoin, the most well-known cryptocurrency, as well as other less well-known currencies such as Polkadot and tether.

In 2020, the most productive types of fraud are fake prizes, gifts or lucky draw, followed by investment related fraud, prepaid plan and celebrity impersonation. The first three cryptocurrencies in the scam are bitcoin, chainlink and Ethereum. The targets of top cryptowallets or exchanges include binance, coinbase and Gemini. The top three celebrities who were impersonated were Elon Musk, John McAfee and Yoshio Maezawa.

More reading: coinmarketcap: the market value of global cryptocurrency dropped to US $200 billion in August 2018 Crypto crime report in 2020: the market value of bitcoin evaporated by US $44 billion in January 2018: the total scale of global cryptocurrency exceeded US $300 billion in November 2017: the total market value of cryptocurrency exceeded US $500 billion for the first time More than a third of cryptocurrency investors know little about cryptocurrency itself Research: cryptocurrency is on the verge of collapse Cambridge innovation financial center: report shows that there are more than 3 million people using cryptocurrency worldwide

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