Reported losses from crypto scams were £226 million, up 32% in a year.
The number of crypto scams rose by 16% in the same period.
Reported losses from crypto-related crime in the UK rose 32% in just a year, police data shows. According to data from Action Fraud UK, obtained by a freedom of information request, crypto crime is on the rise.
The fraud-prevention arm of the UK police collects data on reported incidents on an ongoing basis. The data shows that between October 2021 to September 2022, victims reported £226 million ($273 million) in losses from crypto-related crime.
This is a 32% increase from the same period a year earlier. At the same time, the number of reported crypto-related incidents rose by 16%. Between October 2021 to September 2022, victims reported a total of 10,030 instances of crypto fraud.
Crypto Scams on the Rise
The numbers paint a bleak picture of the prevalence of crypto-related crime. What is worse, these figures only account for report
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