Scammers stole more than $200 million in cryptocurrency from the British in a year

Over the past year, UK citizens have lost more than $200 million as a result of cryptocurrency fraud.

According to the London police, losses amounted to more than £146.22 million, which is 30% more than the number of losses for the whole of 2020. Action Fraud, the UK's National Fraud and Cybercrime Reporting Center, reported 7,118 digital currency fraud reports.

Thus, the average damage from the actions of fraudsters in the British crypto industry was estimated at £20,500 pounds sterling or about $28,000 in each of the calls recorded by the police.

The Action Fraud organization noted that most often the requests of victims were associated with the so-called "cryptocurrency tips from celebrities." Scammers created fake accounts of famous people on social networks, after which they actively advertised various scam projects, or offered fans to send them a certain amount of cryptocurrencies, promising to double it in return. The number of reports of such incidents from April 2020 to March 2021 exceeded 558.

Detective Craig Mullish described the rise in cryptocurrency fraud as "no surprise," attributing it to the fact that in recent years, the COVID-19 pandemic began to spend more time on the Internet. Therefore, it is difficult for them not to succumb to another tempting offer from an idol to earn money on a new asset class. Those who have never been interested in the industry and have not heard of dozens of similar cases of fraud, which have become a kind of "anti-trend" on Twitter, are especially susceptible to this influence.

The largest percentage of appeals (about 11%) was received by local law enforcement officers from Britons aged 18 to 25, while 52% of those affected by the actions of intruders were from 18 to 45 years old.

The police urged citizens to be wary and suspicious of any crypto-related advertising, especially the one that circulates day after day on popular social networks. They also drew the attention of consumers to the high risk of investing in digital currencies, noting that professional advice can save them from thoughtless spending and the intrigues of swindlers.

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Coin Shark is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. This article is for informational purposes, prepared on the basis of materials and information from open sources. Cryptocurrency is a high-risk asset, investments in it can lead to losses. Readers should do their own research before taking any action.