Since October 2020, Americans have lost more than US $80 million due to cryptocurrency investment scams, with a year-on-year increase of 1000% From FTC

The following is the Since October 2020, Americans have lost more than US $80 million due to cryptocurrency investment scams, with a year-on-year increase of 1000% From FTC recommended by recordtrend.com. And this article belongs to the classification: Blockchain, Bitcoin.

According to the Federal Trade Commission (FTC), since October 2020, Americans have lost more than $80 million due to cryptocurrency investment fraud, an increase of 1000% over the autumn of 2019. Among them, people aged 20 to 39 suffered particularly serious losses, accounting for about 44% of the total losses. As the popularity and price of bitcoin, dogcoin and ethereal currency continue to rise, the online fraud related to these digital currencies also continues to rise.

According to the Federal Trade Commission, swindlers are looking for creative ways to trick people into making fraudulent cryptocurrency investments, such as providing online investment “tips” to guide consumers to fraudulent websites; Government agencies or enterprises disguised as cryptocurrency related.

Among all cryptocurrencies, bitcoin is the cryptocurrency with the highest market value and is famous for its price volatility. After a three-year bear market, bitcoin prices began to rebound in October last year.

Although many experts believe that bitcoin is a highly volatile form of currency, its price is constantly reaching record highs, in part because more and more mainstream investors and companies accept it, such as Tesla, MasterCard, PayPal, Starbucks, visa and whole foods.

In early February, Tesla disclosed that it had bought $1.5 billion worth of bitcoin to “diversify and maximize” its investment.

In March, musk tweeted that Tesla now accepts bitcoin payments. In other words, the company’s electric cars can be purchased with bitcoin. However, on May 12 local time, musk tweeted that Tesla would stop accepting bitcoin payments for environmental reasons.

More reading from techweb: bolster: cryptocurrency fraud increased by 90% year on year in 2020 coingecko: the market value of bitcoin in the total market value of cryptocurrency dropped to a new low of 42.6% Cambridge innovation financial center: the report shows that more than 3 million people use cryptocurrency worldwide coinmarketcap: the total market value of cryptocurrency exceeds $500 billion for the first time Cryptocurrency’s total scale exceeds 300 billion US dollars Cryptocurrency itself is almost unknown juniper research: cryptocurrency is on the verge of collapse Investment in cryptocurrency with financial aid funds

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