Over $16B Lost To Crypto Scams Because 2012

Over $16B Lost To Crypto Scams Because 2012

Xangle, a crypto disclosure and transparency platform, has released a new Crypto Investor Scam Report. According to the research, between Jan. 1, 2012, to Dec. 31, 2020, investors have lost an estimated $16,546,541,956 across 132 different scams.

This research was conducted using media articles, press releases, legal filings, and publicly available court documents.

Other Insights From The Report

Here are some of the other key findings sourced from the Xangle report:

527 people have faced criminal charges for their roles in crypto-related scams. These people have faced combined sentences of over 160 years.14 crypto projects had had team members who were charged and duly sentenced.Of all the scams reported, 24 projects have no known charges – civil or criminal.

Lihan Lee, the co-founder of Xangle, commented on the findings:

“For the crypto asset class to reach its full potential, we must ensure that investors are protected and that those who defraud investors are held accountable for their crimes. As a community, we must join together to drive scammers out of the industry by making complete transparency a core pillar that every crypto project is built on top of.”

What is Xangle?

Xangle is a leading global crypto-asset disclosure platform that aims to bring in more transparency by providing full scope information on assets. It curates on-chain data and assists in off-chain inputs. By combining on-chain and off-chain data, Xangle gives a comprehensive overview of any crypto asset.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Title: Over $16B Lost To Crypto Scams Since 2012
Sourced From: cryptodaily.co.uk/2021/01/xangle-cryptocurrency-scam-report
Published Date: Wed, 27 Jan 2021 10:43:35 +0000

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