Crypto Fraud Increased 45 Percent, Traders lost More than Rs 47,000, FBI Report, Bitcoin, Ether

The crypto segment has grown rapidly in the last few years. There are also a large number of fraud cases related to this segment. Last year there was a boom in this market. This has also made it a big target for criminals. The price of Bitcoin, the largest cryptocurrency by market value, had more than doubled last year.

An investigation by America’s Federal Bureau of Investigation (FBI) Report According to , there has been an increase of about 45 percent in fraud cases related to cryptocurrencies last year. Due to these frauds, traders have suffered a loss of more than $ 5.6 billion (approximately Rs 47,029 crore). This report states that about 10 percent of the total complaints of financial fraud were related to cryptocurrency. FBI Director of Criminal Investigation, Michael Nordwall said in this report, “As the share of cryptocurrencies in the international financial system has increased, criminals have also increased their use.”

Recently the FBI had warned that attacks by North Korean hackers on the crypto segment were increasing. Last month, Indian crypto exchange WazirX was targeted by hackers. There are reports of North Korean hackers being involved in this. In this case, funds worth about $230 million were stolen from WazirX. The FBI said, “Hackers seek out their victims through their activity on social media. After this, the victims are trapped in various ways.” To avoid these hackers, the FBI has advised not to store information related to login, password and private keys of cryptocurrency wallets on devices connected to the internet. This case also had an impact on the crypto market. This raised questions about security in crypto exchanges.

WazirX had stopped all deposits and withdrawals on its platform after the attack by hackers. This exchange had offered the hacker approximately $23 million (approximately Rs 192 crore) to return the stolen funds. This case also had an impact on the crypto market. This raised questions about security in crypto exchanges. In some countries, rules are being made for this segment.