Crypto scams are up 23% this year, and victims are losing an average of £10k. Typically, these scams convince people to set up a digital wallet on a legitimate trading platform like Coinbase or Binance, then later they’re tricked into transferring money directly to the fraudster or giving the scammer control of their account.
Read more on investment scams, and see examples of crypto scams to watch out for.
Source: Which? (10 Nov 2023)