Odaily Planet Daily reports that the French Financial Markets Authority (AMF) states that scams related to cryptocurrencies are the main cause of approximately 500 million euros in losses for victims each year. French authorities are working with the Paris Prosecutor's Office, the Prudential Supervision and Resolution Authority (ACPR), and the Directorate General for Competition Policy, Consumer Affairs and Fraud Control (DGCCRF) to intensify efforts to combat these fraudulent activities. Data shows that men under the age of 35 are particularly susceptible. They are impatient for quick profits and lack confidence in their investment knowledge. Scammers exploit social media platforms, promising unrealistic returns to take advantage of this demographic. (Cryptonews)