UK cryptocurrency scams jump 23%, young investors prime targets: Lloyds Bank

One of the Big Four banks in the U.K., Lloyds Bank, has said that reports of cryptocurrency investment scams by victims have surged by 23% in the current year compared to the same period in 2022.

According to a press release published by Lloyds Bank, an increasing number of investors face the threat of falling victim to fraudulent schemes through a wave of fake adverts posted on social media. Each victim of a cryptocurrency investment scam is losing an average of $13,115 (£10,741), an increase from $8,562 (£7,010) the previous year. This surpasses losses from other consumer frauds like romance scams or purchase scams.

Screenshot of the report from Lloyds Bank               … Read more on Cointelegraph

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