Crypto distribution scam sites have tripled in a year

Crypto distribution scam sites have tripled in a year

Cryptocurrencies of all varieties are notorious for being incredibly unpredictable and volatile. (opens in a new tab) It is also a deep niche, and especially from the outside, it is a difficult market to understand. Even a little bit on the inside it can be really confusing as to how value is obtained and assigned, especially with potential energy costs (opens in a new tab) and environmental compensation it just doesn’t make much sense most of the time. This arcane complexity combined with the tantalizing promise cultivated by the rise of bitcoin, and you have a perfect storm for fraud.

Now of course there is a lot of fraud within certain crypto sectors. NFTs in particular are often the topic (opens in a new tab), whether stolen by fraudsters or created by them. There have been so many get rich quick crypto schemes that have successfully taken advantage of people and the internet is really running. According to Bleeping Computer (opens in a new tab)fake cryptocurrency distribution sites have tripled this year, painting a disturbing picture of successful criminals in this space.

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