The crypto industry is still reeling under the aftermath of the collapse of crypto exchange FTX.
But outside of FTX, cryptocurrency theft is rampant, especially in the UK, where it increased by a third in one year. Thieves stole hundreds of millions of pounds from victims, according to police data cited by the Financial Times.
From October 2021 to September 2022, UK police unit Action Fraud received reports of £226 million ($273 million) in cryptocurrency-related financial losses. That’s a 32% rise over the same time in the previous year. With 10,030 reported incidents, a 16% surge has been reported.
The findings are a part of a larger “epidemic” of fraud, which the trade group for financial services, UK Finance, claimed grew as people’s financial habits shifted …
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