Crypto scams claim victims across the socioeconomic spectrum – UQ News
A University of Queensland-led study has found consumer vulnerability to cryptocurrency investment scams has little to do with socioeconomic status.
Associate Professor Levon Blue in UQ’s Office of the Deputy Vice-Chancellor Indigenous Engagement and affiliated with the School of Education said the biggest vulnerabilities for consumers were concerns over security, unsolicited advice, limited options for learning and a lack of financial and IT literacy.
Key points
- Cryptocurrency investment scams are on the rise, with $171 million lost in Australia last year alone
- Both socioeconomic advantaged and disadvantaged people were found to be vulnerable to cryptocurrency scams
- Independent online financial education from trusted…
