Crypto Scams: People Lose More Than $1 billion Since 2021, According to FTC Report

  • More than 46,000 people say they lost over $1 billion in crypto to scams since the start of 2021, according to a report released by the Federal Trade Commission on Friday.
  • The FTC reports that people aged 20 to 49 were more than three times as likely as older age groups to report losing crypto to a scammer.
  • The FTC notes that the top cryptocurrencies people said they used to pay scammers were bitcoin (70%), tether (10%), and ether (9%).