Although cryptocurrencies are not ‘new’, it is only in
recent years that ownership of digital assets has become
widespread. Given the increased interest and value in the crypto
market, it is unsurprising that fraudsters have sought to
capitalise on the lack of regulation and investors’ fear of
missing out on potentially life-changing returns.
One of the supposed advantages of crypto is that the blockchain
technology that underpins it is secure, transparent and more
resilient to fraudulent misuse. It is therefore ironic that a vast
number of scams have emerged in parallel with this growing market.
The risk of falling victim to fraud, along with the highly volatile
prices, have given crypto a reputation for being a precarious
investment. Is that reputation fair?
The unique characteristics of cryptocurrencies and their
resilience to fraud
Blockchain technology and the cryptocurrencies that use it are
supposed to be more resilient to…