$4.3 bln lost in crypto scams in 2019 alone

[mlawson71]

The funds lost to cryptocurrency scams globally have tripled in 2019 compared to 2018, revealed a report by Chainalysis. According to the same report, investors world-wide have lost a shocking 4,3 billion US dollars and that includes the losses to the now infamous PlusToken and OneCoin cryptocurrency scams. There is, apparently, a steady increase of such scams run on Facebook, Twitter, Instagram and social media in general.

Recently there was even a fake twitter ICO for Facebook’s stable coin project Libra, but the most prominent scams remain the PlusToken and OneCoin Ponzi schemes.

“Over 2.4 million individual transfers were made to Ponzi schemes, a number that becomes even more incredible when you realize that the data above reflects just six individual Ponzi schemes in 2019,” the report also states.

The size of these scams is just mind-boggling and I really hope no such thing will happen again.