One of many Large 4 banks in the UK, Lloyds (LON:) Financial institution, has mentioned that stories of cryptocurrency funding scams by victims have surged by 23% within the present yr in comparison with the identical interval in 2022.
In keeping with a press launch revealed by Lloyds Financial institution, an growing variety of traders face the specter of falling sufferer to fraudulent schemes via a wave of pretend ads posted on social media. Every sufferer of a cryptocurrency funding rip-off is dropping a mean of $13,115 (10,741 British kilos), a rise from $8,562 (7,010 kilos) the earlier yr. This surpasses losses from different client frauds, comparable to romance scams or buy scams.
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