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• November 4, 2024
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Europe is experiencing a surge in cryptocurrency scams, with fraudsters exploiting regulatory loopholes, digital platforms, and the rising interest in blockchain technology to deceive unsuspecting investors. From fake trading platforms to malicious wallet schemes, the loss of millions of euros highlights the urgent need for increased awareness and action.

Key tactics used by scammers include:

• Phishing Wallets: Sending fake emails or messages to access private keys.
• Ponzi Schemes: Promising high returns with no actual investment.
• Impersonation of Authorities: Posing as financial regulators to gain trust.

“Education and early intervention are crucial,” said Mr Edward Moorh. “The EU has made significant strides with regulations like MiCA (Markets in Crypto-Assets), but individuals must remain vigilant to protect their digital assets.”

Victims are encouraged to report fraud immediately. Companies like Axgard Shield specialize in tracing lost assets and collaborating with international agencies to recover funds.