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Social media blamed for $1B in crypto scam losses in 2021 -Breaking


Crypto scam losses of $1B due to social media in 2021

The United States Federal Trade Commission has labeled social media and crypto a “combustible combination for fraud,” with nearly half of all crypto-related scams originating from social media platforms in 2021.

This article was published Friday, ReportIt was found that scammers had lost as high as $1Billion in cryptocurrency during the year. This is more than five times higher than 2020 and almost sixty times greater as compared to 2018.

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