Cryptocurrency Scams Unveiled: FBI Report Confirms $94 Million Losses in Maryland

Thursday, 12 September 2024, 16:20

Cryptocurrency scams have cost Marylanders $94 million, as detailed in a new FBI report. These scams account for 10% of financial fraud complaints yet represent a significant loss. Marylanders need to be aware of these alarming trends in cryptocurrency fraud to protect their investments and personal information.
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Cryptocurrency Scams Unveiled: FBI Report Confirms $94 Million Losses in Maryland

Cryptocurrency Scams: An Overview

BALTIMORE -- Cryptocurrency scams are on the rise, costing Americans billions last year according to the FBI's 2023 Cryptocurrency Fraud Report. In Maryland, the losses reached nearly $94 million, highlighting a critical issue in financial security.

Impact of Cryptocurrency Fraud

  • Cryptocurrency scams constitute just 10% of financial fraud complaints.
  • However, they account for a significant portion of monetary losses.
  • Victims often lose both money and personal information to scammers.

Expert Insights

Saduée Lemons, the public relations and social media manager for the Better Business Bureau of Greater Maryland, pointed out that the online nature of cryptocurrency makes it easier for fraudsters.

Marylanders need to stay informed and vigilant about cryptocurrency scams. By understanding the tactics used by fraudsters, individuals can better safeguard their assets.

For more details, be sure to visit the original source of this report.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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