Last year, while bitcoin prices were booming so was crypto-related fraud.

In the U.S. alone 82,135 crimes involving cryptocurrencies such as bitcoin, ethereum, and other digital currencies got reported.

That’s up more than 24,000% from the 340 reported in 2016, according to new research from crypto education platform Crypto Head.

According to Crypto Head typical frauds include the following:

  • Scam Initial Coin Offering. “Scammers will often lure investors with an ICO for a completely fabricated cryptocurrency,” the report states.
  • Crypto Pump and Dump Schemes. These bear an amazing similarity to boiler room operations involving stocks. That’s where the price of the coin is driven higher…

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