August 2, 2021

Can Crypto Scammers Be Stopped Without Government Regulation? » Scammer News

6 min read

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Even as crypto matures and institutions enter the game, the industry remains skeptical of government involvement. But will it be able to self-police scams with community-led and technological solutions?  

The recent Bitcoin bull run piqued public interest in cryptocurrency, but with it came a new wave of crypto scammers. In fact, crypto consumers have lost over $80 million to scams in just a six-month period between 2020 and 2021, ten times the amount of the previous year, the FTC has reported. Surprisingly, the majority of those falling victim are young, between the ages of 20-30 — an age group that tends to be less gullible and more adept at spotting online scams — further proving that nobody is exempt from being targeted. 

These fraudsters are also becoming increasingly creative — from fake

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