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Crypto scams have raked in more than $1 billion since beginning of 2021, FTC says

About 46,000 people have reported losing more than $1 billion to crypto scammers since the beginning of 2021, the US Federal Trade Commission (FTC) said in a report released on Friday. The median individual loss was $2,600 and the most common cryptocurrency used to pay scammers was bitcoin at 70%, followed by tether and ether. The reported losses were almost 60 times what they were in 2018, which may be attributable to some features of crypto, including the fact that …