Crypto Scams: Warning Signs, Red Flags, Advice From 3 Blockchain Detectives
Crypto scams are booming.
Luckily, there are crypto detectives and blockchain sleuths who track down stolen funds and help those who suspect they’ve been defrauded.
The business of these investigators has flourished in recent years, three of them told Business Insider, in part because scams in the crypto sphere are becoming more sophisticated and even harder for even intelligent, computer-savvy people to avoid.
Cryptocurrency crime has skyrocketed in recent years. Losses stemming from crypto investment frauds, the most common type of crypto scam, ballooned to $3.96 billion in 2023, according to data from the FBI, up 335% in two years.
Scam activity has grown an average of 24% year-over-year since the…
