Lately, the crypto world has faced a new scam where fraudsters utilize fake documents to extract money from victims.
Scam Scheme
Scammers issue fake arrest warrants allegedly from the United States District Court, demanding victims to pay immediately via Bitcoin, gift cards, or bank information. This scheme was uncovered following complaints about calls from scammers threatening arrest if the payment wasn't made.
Reasons for the Rise in Cryptocurrency Scams
In 2024, the cryptocurrency industry lost almost $9.9 billion due to various scams and hacks. One reason is the fast rise in cryptocurrency prices, attracting fraudsters, and the difficulty of tracking transactions.
Crypto Market Price Updates
At the time of publication, the cryptocurrency market cap was $2.87 trillion, rising by 3.42% in the last 24 hours. SPX6900 and Render topped the intraday leader's list, while PI and Tron were among the losers.
Cryptocurrency scams continue to rise, and it's crucial to stay vigilant to avoid falling prey to such schemes. The involvement of authorities aids in combating these crimes and protecting the public.
