The U.S. Federal Trade Commission (FTC) has revealed that more than 46,000 people have reported losing over $1 billion in cryptocurrency to scams since the beginning of last year.FTC Says Scammers Stole Over $1 Billion in Crypto
The U.S. Federal Trade Commission published a “Data Spotlight” report on crypto scams Friday. The FTC is the only federal agency in the country with both consumer protection and competition jurisdiction in broad sectors of the economy, the regulator’s website describes.
Emma Fletcher, senior data researcher at the FTC, wrote:
Since the start of 2021, more than 46,000 people have reported losing over $1 billion in crypto to scams – that’s about one out of every four dollars reported lost, more than any other payment method.
Specifically, $680 million in cryptocurrency fraud losses were reported...
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