Chainalysis, a blockchain research firm, attributes nearly $1.1 billion of the $7.7 billion to a single operation targeting Russia and Ukraine.
A significant cause of cryptocurrency fraud in 2021, according to experts, was currency innovators leaving with their followers’ money.
According to the organization’s securities regulators, investments in cryptocurrencies and digital assets are the most dangerous for people.
Furthermore, reports of a “crypto millionaire” reportedly prompted other investors to invest in cryptocurrencies or crypto-related assets this year. With them came many stories of individuals who gambled heavily and lost heavily, which will continue to go until 2022.
According to the FBI, the most common indicator of investment fraud is significant gains with low risk.
NASAA President Melanie Senter Lubin advises investors to research their investments and partners before investing.
Additionally, scammers may use digital assets to deceive the public because they are not easily regulated.
Nonetheless, every investment decision has the risk of losing some or all of your money. To Vice-Chairman of the Enforcement Section Committee Joseph Rotunda, they are high-risk investments with significant potential losses.
In 2021, bitcoin scammers stole $7.7 billion from unknowing victims. This represents an 81 percent rise in losses from the previous year.
A single operation, according to Chainalysis, was responsible for over half of the $7.7 billion. This accounts for over $1.1 billion of the overall $7.7 billion, or over half.
