Senator Elizabeth Warren has emphasized the risks of cryptocurrency scams targeting senior citizens in the U.S., with the support of a cybersecurity expert supporting her legislation on digital assets to prevent future scams.
In a recent senate hearing, Warren outlined the significant increase in crypto scams being targeted towards elderly citizens of the U.S:
“Last year, we saw a 350% increase in crypto investment scams targeting seniors. That is the biggest spike among all age groups. That added up to more than $1 billion that seniors lost in crypto scams.”
Meanwhile, during the hearing, Steve Weisman, a recognized expert on scams and cybersecurity as described by Warren, highlighted that…
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