Cryptocurrency is on the verge of going mainstream with big-time brands and personalities lining up signaling support. This digital gold rush is also attracting fraudsters who see a multibillion-dollar opportunity to scam and defraud investors. With very little regulation, protection for the average consumers is lacking for those who invest or transact in cryptocurrencies.
Bolster’s research shows that fraud and scams related to cryptocurrencies are on the rise, and it is one of the biggest threats to them going mainstream.
This paper delves deeper into the surges we’ve observed. We’ll examine both how cryptocurrency scams are evolving and expanding. We’ll provided detailed examples of the various cryptocurrency scams we detected. And we’ll conclude with tips for cryptocurrency foundations and businesses, businesses in general, and individuals on how they can keep safe as cryptocurrency goes mainstream.