ChainCatcher Message, the price of Bitcoin has reached an all-time high, attracting a lot of attention, but it has also drawn the covetous eyes of criminals. FBI Baltimore Division agent David Paniwozik pointed out that an increasing number of cryptocurrency scams are emerging, with investors becoming targets due to their unfamiliarity with the technology.

A common tactic of these scams is to establish fake cryptocurrency exchanges, enticing investors to believe their investments are rapidly increasing in value, or demanding payment in cryptocurrency to unlock opportunities for high returns. Data shows that losses from cryptocurrency scams in Maryland have skyrocketed from $32,033 in 2023 to $3.8 million this year.

Although complaints related to cryptocurrency account for only 10% of financial fraud complaints, the amount of losses represents nearly 50% of total losses. Investors need to remain vigilant to avoid falling into scams.💡