Crypto scams are getting increased attention as regulators and politicians grapple with how to encourage technological innovation while at the same time protecting unsuspecting consumers. — Reuters
Celebrity-endorsed cryptocurrency scams in the UK are on pace to almost double this year, Banco Santander SA’s local unit said.
“Case volumes” jumped 61% in the first quarter from the prior three months, Santander said in a statement on its website on Tuesday. The average value of the scams was £11,872 (RM63,752), up 65% from a year earlier. Around £2mil (RM10.73mil) was lost to such schemes in the quarter, according to the bank.
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