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WebMay 3, 2024 · Cryptocurrency scams are on the rise globally. Influencers and celebrities are at the front of the scam game hitting the digital asset world. Governments and Financial Regulatory Bodies are implementing tighter measures as a result of the growing negative trend. Large-scale scams by celebrities make cryptocurrency buyers scared to invest more. WebMay 17, 2024 · In fact, the FTC’s new data spotlight shows that, since October 2024, nearly 7,000 people reported losses to bogus cryptocurrency investments, adding up to more than $80 million. People ages 20-49 were more than five times more likely than other age groups to report losing money on those scams. For stocks, yes. For cryptocurrency, no. The Securities and Exchange Commission is the government regulatory agency that investigates securities scams such as insider trading and pump and dumps. It doesn't yet have similar rules for cryptocurrency, and doesn't plan on implementing crypto regulations, at least for 2024. See more A pump and dump is a securities scamusually involving stocks. Scammers create false hype about a stock in order to generate interest. … See more It doesn't work much differently than with stocks. A certain crypto asset is pumped up by people in order to make the value increase. "As the prices rise, the pump creators dump their … See more It's important to understand if FOMO is contributing to your decision on whether to invest in a cryptocurrency. It may seem like everyone is … See more In July, four members of the FaZe Clan participated in a pump-and-dumpfor a token called SaveTheChildren. The pro gamers, along with other influencers, pushed the coin to their followers. Once the price increased, … See more smart cheap watches