The surge of cryptocurrency in France has led to an increase in financial scams, prompting authorities to take action to protect consumers. The Paris Public Prosecutor’s Office, along with regulatory bodies like the AMF and ACPR, are alarmed by the rise in fraudulent schemes involving fake crypto investments. Reports show that victims of false savings accounts lost an average of €69,000, while false loans resulted in average losses of €19,000. Crypto-asset scams have also seen a significant rise, with victims losing an average of €29,000. A survey revealed that 3.2% of French adults fell victim to financial scams in 2024, nearly tripling from 1.2% in 2021. Young men under 35 are the most targeted group, lured by promises of quick profits. Authorities are taking steps to prevent such scams, including public awareness campaigns and blacklisting unauthorized entities. Consumers are advised to exercise caution and conduct thorough research before investing in cryptocurrencies. Read more AI-generated news on: https://app.chaingpt.org/news