From trading at less than a dollar in its first few years of existence to over $60,000 in late 2021, the story of bitcoin’s meteoric rise has often been used by scam artists as bait for inexperienced investors looking to make huge gains in the crypto space.
The promise of “the next big thing in crypto” has been used to peddle bogus coins, make false claims, and swindle people out of their money. Not to mention exchanges and Initial Coin Offerings (ICOs), phishing attacks and other cyber hacks used to steal people’s crypto assets.
At the more sophisticated end of the spectrum, even some of the world’s largest crypto firms have been subject to high-profile hacks, with the likes of Coinbase and Binance losing hundreds of millions of dollars worth of crypto assets to cyber-attacks this year.
In the U.K., the Financial Conduct Authority (FCA)…