Bitcoin ScamBitcoin.comBolstercelebrityCrypto Researchcrypto scamcrypto scam victimscrypto studyCryptocurrency Scam Reportcybersecurityfake giveawaysecurity

Study Finds Cryptocurrency Scams Surged 40% in 2020, Forecasts an Increase of 75% in 2021

A new study revealed that cryptocurrency-related scams almost doubled over the last year. However, forecasts are not optimistic going forward, as the report forecasts another significant increase in the number of cases in 2021.
Research Scanned Over 300 Million Websites
According to the “Cryptocurrency Scam Report” published by fraud prevention company Bolster and shared with News, the correlation with the surge of cryptos’ popularity and the coronavirus pandemic boosted the figures of crypto scams in 2020.
Bolster analyzed over 300 million websites and found out that more than 400,000 crypto scams were created over the last year. In fact, it represents a 40% increase in comparison with the numbers seen in 2019, said the study.
With such a number in place, and considering the bitcoin (BTC) becoming increasingly mainstream, crypto scams could witness an increase of 75% in 2021, stated Bolster.
Shashi Prakash, co-founder and CTO of Bolster, told News:
The rise in crypto-scams really hurts the industry’s goal of establishing credibility as an asset class, and it will have to be addressed as these currencies become more mainstream and less sophisticated people start buying and selling them. Proactive removal of frauds and scams is an opportunity for a currency to differentiate itself and build trust with the market more quickly.

Story continues on

Related posts
Alex Ramírez-MallisAltcoinsBeepleBitcoin.comChristie'sDapper LabsDecentralandFlow tokenMANANBA Top Shotnon-fungible tokens (NFTs)

NFT-Related Token Prices Soar Amid Digital Art Mania

Crypto assets that are linked with non-fungible tokens (NFTs) marketplaces have risen sharply since the mania took off a few months ago. NFTs are selling at prices that many consider ridiculous for intangible artwork. Third-Largest Art Sale by a Living…
Bitcoin.comcelebrity NFTjustin sunLindsay LohanNewsNFT AuctionsTron Network

Lindsey Lohan Jumps Into NFT Market Auctioning Her Own Creation

The famed American actress, artist, singer, and entrepreneur is set to auction her exclusive collectibles on a Tron-based NFT auction platform, joining the chorus of celebrities promoting coins and projects in the blockchain ecosystem. Hollywood Star to Promote NFT Education…

SmartKey Shows There Is Real Value and Utility in NFT Tokens

NFT tokens are taking over the investment scene these days, with unbelievable valuations and all kinds of brands and major artists rushing in. On the technology side SmartKey shows that NFT tokens can be used for more than just speculation,…