The British lost $ 34 million last year due to cryptocurrency fraudulent schemes

The Financial Conduct Authority (FCA) of the United Kingdom reported that over the past year, the number of crypto and Forex scams has tripled (from 530 to 1834).

However, despite the growth in the number of fraudulent schemes, the total amount of investor losses for the year decreased from £ 38 million ($ 48 million) to £ 27 million ($ 34 million). The average size of losses per investor also fell from £ 59,600 ($ 75,827) to £ 14,600 ($ 18,575).

According to the financial regulator, in most of the fraudulent schemes (81%) are cryptocurrencies. In addition, FCA reported that to attract people into their projects, scammers often use social networks, promise quick investors to inexperienced investors, and also use fake celebrity statements.

Earlier, BlockchainJournal reported that FCA could significantly restrict trade in cryptocurrency derivatives, including options and futures.

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