This article briefly:
The U.S. Commodity Futures Trading Commission (CFTC) revealed that most anonymous tips it received this year were about cryptocurrency scams, suggesting that fraud is widespread.
The CFTC has awarded nearly $350 million to whistleblowers, including $16 million this year, primarily to two whistleblowers.
Cryptocurrency scams are increasingly targeting older adults, with the number of cryptocurrency exploits in the second quarter of 2023 up 65.3% from the previous year.
The U.S. Commodity and Futures Trading Commission (CFTC) has revealed that the majority of anonymous reports it has received this year were about cryptocurrency.
“The majority of reports received this year involved cryptocurrencies, an area where fraud and other illegal activities remain prevalent,” the statement said.
CFTC reports increase in cryptocurrency scams
In a recent statement, the CFTC recognized the importance of whistleblowers and its ongoing commitment to the Whistleblower Program.
The statement said whistleblowers of illegal finance have received rewards worth hundreds of millions of dollars.
“Cumulatively, the CFTC has awarded nearly $350 million to whistleblowers and ordered more than $3 billion in sanctions in cases related to those awards.”
In addition, it clarified that a total of $16 million had been paid out this year. The majority of these funds were allocated to just two whistleblowers.
“This includes $16 million in awards this year, including more than $15 million in awards to two whistleblowers who provided critical information and assistance that led to separate successful enforcement cases by the CFTC.”
The statement also suggests that the growing popularity of cryptocurrencies in the United States has prompted the U.S. Commodity Futures Trading Commission (CFTC) to increase its vigilance against individuals and entities using digital assets.
“With the rise of cryptocurrencies, more retail customers are coming under the CFTC’s jurisdiction, making the efforts of the CFTC’s Whistleblower Program and the Office of Customer Education and Outreach even more important.”
Annual revenue from crypto scams 2017-2022. Source: Chainaanalysis
Cryptocurrency scams targeting seniors
Recent reports indicate that cryptocurrency scams are increasingly targeting older adults.
BeInCrypto reported on September 14 that a scammer posing as an FTC agent defrauded an elderly American of his life savings.
Richard Hall, an 82-year-old Houston artist, received a call from a scammer posing as an institution investigating a hack of his bank.
This was exacerbated when the fraudsters convinced him to download AnyDesk in order to get documents from Hall’s computer.
Meanwhile, the number of cryptocurrency exploits in the second quarter of 2023 increased by 65.3% compared to the same period last year. Although the number of incidents rose from 49 to 81, the losses fell by 60.4% compared to the second quarter of 2022. #CFTC #加密诈骗
