Study: 7.6 Million South Africans Are Crypto Investors, Social Media Main Source of Crypto-Related Information – Emerging Markets Bitcoin News

About 22% of South Africa’s adult population, or 7.6 million people, are cryptocurrency investors, findings by a study done by Kucoin cryptocurrency exchange have shown. According to the study, 72% of the respondents said they get information concerning particular crypto projects via social media. Influencers and media personalities were also found to be key opinion … Read more

Illicit crypto usage as a percent of total usage has fallen: Report

Illicit cryptocurrency activity in 2021 and the first quarter of 2022 has declined as a percentage of overall crypto activity, according to blockchain forensics firm CipherTrace. The cryptocurrency industry has long held a reputation in some jurisdictions as a haven for illegal activity. However, CipherTrace estimates that illicit activity was between 0.62% and 0.65% of … Read more

US Regulator: Investors Reported Losing Over $1 Billion in Crypto to Scams Since 2021 – Featured Bitcoin News

The U.S. Federal Trade Commission (FTC) has revealed that more than 46,000 people have reported losing over $1 billion in cryptocurrency to scams since the beginning of last year. FTC Says Scammers Stole Over $1 Billion in Crypto The U.S. Federal Trade Commission published a “Data Spotlight” report on crypto scams Friday. The FTC is … Read more

Aussie consumer group calls for better crypto regs due to ‘lagging laws’

Australian consumer advocacy group CHOICE has called on the federal government to provide better protection for crypto investors while submitting a proposed regulatory framework for cryptocurrency exchanges operating in the country. The regulatory framework was submitted in response to the federal Treasury’s consultation paper for “crypto asset secondary service providers” (CASSPs) defined as firms providing … Read more

Government of Uruguay Presents Campaign Against Crypto Scams – Bitcoin News

The Department of the Interior of Uruguay is taking steps to warn users about the danger they face when investing in certain crypto projects that could be scams. The campaign is called “Fake Coins: Cryptocurrency Scams” and seeks to educate the population about the most common kinds of crypto scams. Uruguay Educates on Crypto-Related … Read more

Crypto Firms Launch Community-Powered Scam Reporting Platform ‘Chainabuse’ – Featured Bitcoin News

Several crypto firms, including Binance and Circle, have launched a new crypto scam reporting platform. The tool “empowers anyone in the crypto economy to warn others about scams, hacks or other fraudulent activity as they encounter it.” New Crypto Scam Reporting Platform Launched A number of crypto firms have joined forces and launched a new, … Read more

More than $1.6 billion exploited from DeFi so far in 2022

The decentralized finance (DeFi) space has been rife with hacks, exploits, and scams so far this year with over $1.6 billion in crypto stolen from users, surpassing the total amount stolen in 2020 and 2021 combined. Analysis from blockchain security firm CertiK revealed the statistics on May 2 showing the month of March having the … Read more