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Cryptocurrency Fraud Costs Britons 2 Million Pounds in Two Months

Published 08/10/2018, 02:02 PM
Updated 08/10/2018, 03:20 PM
 Cryptocurrency Fraud Costs Britons 2 Million Pounds in Two Months

Britons have lost more than 2 million British pounds ($2.55 million) in only two months due to cryptocurrency related criminal activities, the UK national police project Action Fraud said on Friday. Fraudsters used mainly social media channels to advertise their ‘quick investment’ Ponzi schemes the June and July data showed.

UK police revealed that the average loss was roughly 11,000 British pounds (around $13,000). Fake mining or trading offerings were the most popular ways of stealing money.

Mining is the process of ‘creating’ cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH). As this activity has become very popular, criminals have st...


This article appeared first on Cryptovest

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