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FTC Reports Huge Jump in Cryptocurrency Scams
By John P. Mello Jr. May 19, 2021 4:00 AM PT Claims of losses from cryptocurrency scams skyrocketed from October 2020 to March 2021, according to a report released Monday by the Federal Trade Commission. In its Consumer Protection Data Spotlight newsletter, the FTC revealed that during the October to March period nearly 7,000 consumers reported losing US$80 million. That compares to only 570 cryptocurrency scam reports amounting to $7.5 million in losses from October…
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