look news india
Cryptocurrency Fraud in Global: Cases of fraud related to cryptocurrency are increasing continuously. According to a recently released FBI report, the biggest loss to the US in 2023 was around $5.6 billion. This figure is 45 percent more than in 2022. The report claims that there has been a huge increase in cases of fraud related to cryptocurrency this year.
How is the situation in India?
India is at the 5th place in this list where more than 840 fraud complaints were registered. The total loss from cryptocurrency in India was 4 crore 40 lakh 50 thousand 244 dollars (Rs 400 crores), that is, India is among the top-10 countries where the biggest economic loss has been caused by cryptocurrency.
Which type of fraud has the highest incidence?
After the crypto market crash in 2022, token prices saw a surge in 2023, attracting cybercriminals again. After the price of bitcoin doubled last year, it increased by about 35 percent. According to an FBI report, criminals use cryptocurrencies to commit fraud in many ways. In which cases of investment tax fraud have been the highest.