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According to Chainalysis, crypto scam websites attracted millions of Indians last year

According to statistics from blockchain analytics firm Chainalysis, Indians have visited bogus crypto websites in droves in recent years.

Last year, Indians visited bitcoin fraud websites 9.6 million times, according to the business. The figure was substantially greater in 2020. Indian users visited crypto scam websites 17.8 million times.

Coinpayu.com, adbtc.top, hackertyper.net, dualmine.com, and coingain.app are the top cryptocurrency scam websites on Indians in the past year, according to Chainalysis. Last year, India accounted for 4.6 million visitors to the top five crypto fraud sites.

Several bitcoin scam instances have been investigated by Indian authorities. The country’s Enforcement Directorate (ED) confiscated assets worth $5 million earlier this month in connection with an alleged cryptocurrency scam using Morris Coin.

Scams using cryptocurrency are a top priority for regulators around the world.
Crypto frauds are at the top of the North American Securities Administrators Association’s (NASAA) “annual list of top investor concerns,”
That’s, according to the organization.
Furthermore, the U.S. Federal Trade Commission (FTC) recently warned consumers about scams involving cryptocurrency ATMs.
Related Posts – Ex-SEC Chair, Jay Clayton Believes Cryptocurrency Industry Is For Long Haul

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.