According to the U.S. Federal Trade Commission, more than 46,000 people have been victims of cryptocurrency fraud since the beginning of 2021. Collectively, they have lost more than
$1 billion. Approximately 50% of the frauds started on social media.
Cryptocurrency accounted for about one out of every four dollars lost - more than any other payment method, according to the FTC report. The average loss per person was
$2,600, and the main cryptocurrencies used by scammers are bitcoin, tether and ether.
