Crypto scams are now a billion-dollar market

In the last year and a half, more than 46,000 people were scammed out of their hard-earned cryptocurrencies for a total of over $1 billion, a Federal Trade Commission (FTC) report has claimed.

The report says the average reported loss for an individual was $2,600 worth of either bitcoin, tether, or ether. For almost half of the victims, the report noted that the theft started with either an ad, a post, or a message on a social media platform.

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