Beware! 7 New Crypto Scams That Will Make You Question Your Sanity! 😱💸

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In the vast expanse of California, a financial regulator has emerged from the shadows, bearing grim news: seven new types of crypto and AI scams have surfaced, like weeds in a neglected garden, reported by users through a deluge of complaints in the year 2024. 🌪️

The California Department of Financial Protection and Innovation (DFPI), in a statement reminiscent of a weary soldier recounting the horrors of battle, revealed on March 10 that it had received a staggering 2,668 complaints. Among these, seven types of scams were unearthed, previously unknown to their records. Among them, the infamous fake Bitcoin (BTC) mining schemes, where the duplicitous offer illusory investments in mining, promising riches that evaporate like morning mist. 💰

Moreover, the DFPI was inundated with tales of woe regarding fake crypto gaming schemes, where unsuspecting users were lured to deposit their hard-earned funds, only to witness their wallets drained faster than a politician’s promises. And let us not forget the charlatans offering fake jobs, demanding victims to transfer crypto and divulge their private information, as if it were a casual dinner conversation. 🍽️

Victims, in their despair, reported the theft of private keys through deceptive airdrops, and the emergence of fake investment groups on platforms like WhatsApp and Telegram. AI Investment scams, with their tantalizingly high returns, beckoned like sirens, only to lead the unwary to the rocky shores of loss. The year 2024 saw the AI industry swell to a market cap of $638 billion, a figure that would make even the most seasoned investor raise an eyebrow. 📈

In a world where crimeware-as-a-service (CaaS) flourished, seasoned hackers sold their nefarious tools to the less experienced, turning the digital landscape into a veritable bazaar of deceit. The DFPI Commissioner, KC Mohseni, urged the populace to tread carefully when engaging with unknown platforms, advising them to “verify website domains to avoid fraudulent imitations, and remain vigilant against crypto recovery scam sites.” A noble sentiment, indeed! 🕵️‍♂️

Through a partnership with the State, the DFPI claimed to have shut down over 26 fraudulent crypto websites, uncovering a staggering $4.6 million in user losses last year. A drop in the ocean, perhaps, but a drop nonetheless. 🌊

California DOJ Shuts Down 42 Crypto Scam Websites

In a bold move, California’s Department of Justice (DOJ) dismantled 42 crypto scam websites in 2024, which had pilfered a staggering $6.5 million from unsuspecting victims, with an average loss per person of $146,306. A sobering statistic that could make even the most hardened cynic shudder. 😨

In their March 10 statement, the California DOJ lamented the challenges posed by international fraudsters, who, like phantoms, elude prosecution and arrest. The common threads among these scam websites were promises of high returns, a conspicuous absence of contact information, tantalizing offers of prizes for signing up, and a complete lack of listings on reputable crypto industry websites such as CoinMarketCap. A veritable recipe for disaster! 🍽️

A report from the on-chain security firm Cyvers identified pig butchering schemes as one of the most costly in 2024, estimating that this particular scam cost the industry over $5.5 billion across 200,000 identified cases. A staggering figure that could make one question the very fabric of reality. 🐖

Meanwhile, the annual Web3 security report from blockchain security firm CertiK flagged crypto phishing attacks, which cost users $1 billion across 296 incidents, as the most significant security threat of 2024. A grim reminder that in the digital age, one must remain ever vigilant, lest they fall prey to the wolves lurking in the shadows. 🐺

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2025-03-11 03:51