In France, the growth of crypto scams in 2024 has led to significant financial losses and compelled authorities to intensify measures against this phenomenon.
Extent of Crypto Scams
In 2024, crypto scams in France reached unprecedented heights with a loss of half a billion euros. Among these, investment scams in cryptocurrencies are notably inventive. Statistics reveal that 3.2% of the French population fell victim to scams, compared to 1.2% in 2021. The average loss is €19,000 due to fictitious loans, and up to €69,000 in fraudulent savings. Scammers are using increasingly sophisticated methods, including artificial intelligence, to lend credibility to their stories. A notable example is the 'OmegaPro' scam, where €268 million in criminal assets were recovered.
Regulators and Battles Against Illusions
French regulators are stepping up against scams, given their magnitude. Since 2022, 5,000 unauthorized entities have been blacklisted, and 350 fraudulent sites blocked. A national information campaign has been launched to educate investors about risks. Scammers often employ tactics like calls from fake advisors or so-called 'square' frauds, where initial victims are contacted again under the pretense of fund recovery. Regulators advise checking official registers and not falling for promises of easy wealth.
Need for Vigilance
Crypto enthusiasts are particularly vulnerable to digital scams: 76% of assets promoted by crypto influencers are scams. Vigilance and caution remain the best defenses against this fraud epidemic.
Crypto scams remain a serious threat to investors in France. Strengthening regulatory measures and increasing public awareness are vital steps in combating this issue.
