Crypto Industry Has Lost $42.7 Million Due To Crypto Cyber Fraud: FBI
The Federal Trade Commission (FTC) is worried about increasing crypto frauds and has passed a consumer alert concerning the increase in crypto frauds. The FBI is alerting people with a warning that it has issued. The fraud has increased since December. So, the organization has also alerted banks and investors about the activity, which is more likely to be done with Phoney Bitcoin apps.
The Federal Bureau of Investigation has claimed that some crypto investment apps commit fraud by assuring investors to provide investment services, and the institutions and investors are alerted by the body. Two applications named Yibit and Supayos were found guilty by the FBI. Both the apps were active from October, and November 2021, respectively, and the developers made money through them. In 2021, the same case was found where the app owner pretended to be a U.S. financial organization to make money.
Source
https://t.me/Bitcoin_Magazine
