The funds lost to cryptocurrency scams globally have tripled in 2019 compared to 2018, revealed a report by Chainalysis. According to the same report, investors world-wide have lost a shocking 4,3 billion US dollars and that includes the losses to the now infamous PlusToken and OneCoin cryptocurrency scams. There is, apparently, a steady increase of such scams run on Facebook, Twitter, Instagram and social media in general.
Recently there was even a fake twitter ICO for Facebook’s stable coin project Libra, but the most prominent scams remain the PlusToken and OneCoin Ponzi schemes.
“Over 2.4 million individual transfers were made to Ponzi schemes, a number that becomes even more incredible when you realize that the data above reflects just six individual Ponzi schemes in 2019,” the report also states.
I just don’t understand how these scams got so big before authorities finally went after them.
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Hi, I have another question, why investors started to invest in cryptocurrencies and cryptocurrencies knowing that there are no legal regulations that would protect investors against fraud?. Regards Greg
Just another financial instrument to profit in I assume is the simple reason.
Virtue is Knowledge
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Cryptocurrencies are rising in popularity, investors are greedy, and regulation is slowly being implemented.
so now greedy investors payed for the greed
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It’s what often happens when you’re too greedy to think clearly.
Damn, that looks more like a fraud, than trading
What does?The two scams? I mean, they were scams. 
I think yes, they were scams
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