Crypto Fraud Increased 45 Percent, Traders lost More than Rs 47,000, FBI Report, Bitcoin, Ether

The crypto segment has grown rapidly in the last few years. There are also a large number of fraud cases related to this segment. This market boomed last year. This has also made it a big target for criminals. The price of Bitcoin, the largest cryptocurrency in terms of market value, more than doubled last year.

A US Federal Bureau of Investigation (FBI) Report According to the FBI, there has been an increase of about 45 percent in cases of fraud related to cryptocurrencies in the last year. Due to these frauds, traders have suffered a loss of more than $ 5.6 billion (about Rs 47,029 crore). This report states that about 10 percent of the total complaints of financial fraud were related to cryptocurrencies. FBI Director of Criminal Investigation, Michael Nordwall, has said in this report, “With the increase in the share of cryptocurrencies in the international financial system, criminals have also increased its use.”

Recently, the FBI had warned that attacks by North Korean hackers on the crypto segment are increasing. Last month, Indian crypto exchange WazirX was targeted by hackers. There are reports of North Korean hackers being involved in this. In this case, funds worth about $230 million were stolen from WazirX. The FBI said, “Hackers find their victims through their activity on social media. After this, the victims are trapped in various ways.” To avoid these hackers, the FBI has advised not to store information related to login, password and private keys of cryptocurrency wallets on devices connected to the Internet. This case also had an impact on the crypto market. This raised questions about security in crypto exchanges.

WazirX had stopped all deposits and withdrawals on its platform after the hackers attacked. The exchange had offered the hacker about $23 million (about Rs 192 crore) to return the stolen funds. The crypto market was also affected by this matter. This raised questions about security in crypto exchanges. Rules are being made for this segment in some countries.