The surge in cryptocurrency popularity has led to a significant increase in scams, with over $1 billion reported losses from January 2021 to June 2022. Lack of understanding and security measures in the crypto space makes it a prime target for fraud.

Common Crypto Scams in 2024:

1. Blackmail and Extortion Scams:

- Scammers claim to possess embarrassing information and demand crypto payments to keep it private.

- Immediate reporting to the FBI is advised; no money should be sent.

2. Business Opportunity Scams:

- Scammers promise extraordinary returns, urging victims to invest crypto for quick wealth.

- Beware of unrealistic guarantees; genuine opportunities don't promise guaranteed returns.