The most successful blockchain scams have ripped off nearly $14 million from victims to date, VPN company says | Currency News | Financial and Business News

 The most successful blockchain scams have ripped off nearly $14 million from victims to date, VPN company says | Currency News | Financial and Business News
The FTC has warned about mounting losses in crypto scams.

Scammers have made off with more than $13 million from investors through ongoing and fraudulent blockchain schemes that use tactics such as tricking people into buying non-existent services, according to an analysis conducted by a virtual private network company.

So far this year, about $13.4 million has been raked in by the top 10 most successful blockchain scams that are currently active, according to Atlas VPN. In a report published Wednesday, the company said it studied figures from Scam Alert, a site run by cryptocurrency transactions tracker Whale Alert.

“Due to their nature, blockchain projects remain profitable targets to cybercriminals,” as victims can be lured with get-rich-quick schemes, said Ruth Cizynski, a cybersecurity researcher and writer at Atlas VPN, in the report. “Secondly, fraudulent transactions cannot be easily traced or reversed…

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