Wall Street

Crypto: 46,000 People Lost $1 Billion to Cons in 15 Months

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The Street

By Luc Olinga Scammers are taking advantage of the crypto craze to line their pockets, FTC says. The euphoria around cryptocurrencies in 2021 has not only made millionaires and billionaires. It was also a ruin for thousands of retail investors. And things are not getting better since the beginning of 2022, crypto scams, which multiplied last year, continue. Since the start of 2021, more than 46,000 people have reported losing over $1 billion in crypto to scams, according to a new report from the Federal Trade Commission (FTC). That’s about one out of every four dollars reported lost, more than…

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