It isn’t only cryptocurrency prices that have skyrocketed recently — cryptocurrency scams are on the rise as well. Americans lost over $80 million in cryptocurrency scams between October 2020 and April 2021.

According to figures from the Federal Trade Commission (FTC), more than 7,000 people reported losses — about 12 times more than the same period a year before. The median loss was $1,900, with people in their 20s and 30s the worst hit. These age groups lost more on investment scams than any other type of fraud.

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