UK authorities predicted an increase in cryptocurrency scams


The CPS is anticipating a surge in cryptocurrency fraudulent schemes. It is reported by the Financial Times.

There were 27,187 cybercrimes recorded in the UK and Northern Ireland between 2019 and 2020, according to police data. A fifth of the messages (5581) are related to digital assets.

CPS CEO Max Hill pointed to the low interest of cybercriminals in bitcoin. In his opinion, this figure will increase over time. 

Earlier, the UK Financial Conduct Authority (FCA) warned of the risks of investing in cryptocurrencies. The regulator noted that investors “must be prepared to lose all their money.”

Recall that in April 2021, the FCA suspected the Blockchain Recovery Department of fraud – it pretended to be a branch of a licensed company. 

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