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| comment | | "parent_author":"",<br>"parent_permlink":"altcoinnews",<br>"author":"syeservices",<br>"permlink":"cybercrimecenterinukurgescryptoenthusiaststobewareoffraud-692wvatitm",<br>"title":"Cybercrime Center in UK Urges Crypto Enthusiasts to Beware of Fraud",<br>"body":"<p><strong>Even though the price of Bitcoin is nowhere near it\u2019s December 2017 numbers,<br> interest in the crypto industry is still high,<br> for both fans and fraudsters alike.<\/strong><\/p>\n<hr\/><p>As a way to circumvent political and economic volatility in countries like <a href=\"https:\/\/www.livebitcoinnews.com\/residents-in-south-africa-show-a-keen-interest-in-cryptocurrency-investments\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">South Africa<\/a> and <a href=\"https:\/\/www.livebitcoinnews.com\/venezuela-bitcoin-price-continues-to-skyrocket-as-country-crumbles\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Venezuela<\/a>,<br> or simply as a way to \u201chodl\u201d and grow your investment for the <a href=\"https:\/\/www.livebitcoinnews.com\/pantera-capital-ceo-thinks-bitcoin-price-will-be-much-higher-a-year-from-now\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">future<\/a>,<br> virtual currencies seem to be the best way forward for a number of people.<\/p>\n<p>Some countries,<br> like the <a href=\"https:\/\/www.livebitcoinnews.com\/uk-positioned-to-lead-the-crypto-economy-according-to-a-new-report\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">United Kingdom<\/a>,<br> are already leading the way in fostering mass adoption for both blockchain technology and cryptocurrencies. They even have a specialized task force focused on evaluating the risks and advantages of the industry. In addition,<br> they are training their police force in the intricacies involved in dealing with virtual currencies in their investigations.<\/p>\n<p><center><img class=\"aligncenter wp-image-28909 size-medium\" src=\"https:\/\/s3.amazonaws.com\/lbn-s3\/2016\/08\/04085423\/shutterstock_180768632-300x200.jpg\" alt=\"LBN_Deep Web Carding PayPal Fraud Bitcoin\" width=\"300\" height=\"200\"\/><\/center><br\/><\/p>\n<h3>Crypto Fraud Is a Problem<\/h3>\n<p>However,<br> the cryptocurrency community in the UK is not without its problems. The <em><a href=\"https:\/\/www.ft.com\/content\/f5583d68-9c9e-11e8-9702-5946bae86e6d\" target=\"_blank\" rel=\"noopener follow\" data-wpel-link=\"exclude\">Financial Times<\/a><\/em> recently reported that June and July this year saw a total of \u00a32.1 million lost in cryptocurrency scams.<\/p>\n<p>London\u2019s Action Fraud\u00a0recently released data showing that 203 people lost an average of just over \u00a310,<br>000 over the two months. The director of the organization,<br> which is the police\u2019s national fraud and cybercrime reporting center,<br> Pauline Smith,<br> said:<\/p>\n<blockquote readability=\"7\">\n<p>The statistics show that opportunistic fraudsters are taking advantage of this market,<br> offering investments in cryptocurrencies and using every trick in the book to defraud unsuspecting victims.<\/p>\n\n<\/blockquote>\n<p>It is important to highlight the fact that virtual currencies are not the cause of these crimes,<br> that honor belongs to dodgy fraudsters that think up these scams to get people to part with their hard-earned money.<\/p>\n<p>While the industry has a well-known,<br> and inaccurate,<br> reputation as being the preferred payment for illicit activities,<br> some <a href=\"https:\/\/www.livebitcoinnews.com\/bitcoins-usage-for-illicit-activities-declined-dea-special-agent-says\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">evidence<\/a> shows that this is\u00a0not the case. Yes,<br> you can use Bitcoin to buy drugs but you can also use fiat money,<br> which was the case for all of the years before Satoshi created the first digital currency.<\/p>\n<h3>Be Alert and Aware<\/h3>\n<p>London\u2019s police department reported that these fraudsters are tempting their victims with promises of easy money which can be made through their crypto trading site,<br> of course. In addition to funds deposited,<br> these thieves steal credit card details and other sensitive information before closing up shop and moving onto the next victim.<\/p>\n<p>This comes in the wake of so-called <a href=\"https:\/\/www.livebitcoinnews.com\/uk-financial-regulators-issue-warnings-about-crypto-clone-firms\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">clone firms<\/a> popping up in another attempt to swindle people out of their crypto.<\/p>\n<p>Smith doled out some advice to investors:<\/p>\n<blockquote readability=\"6\">\n<p>It\u2019s vital for anyone who invests or is thinking of investing in cryptocurrencies to thoroughly research the company they are choosing to invest with.<\/p>\n\n<\/blockquote>\n<p>Therein lies the key. Investigate the company you\u2019re choosing to entrust your money with before you do so,<br> and remember that cryptocurrencies don\u2019t scam people,<br> people scam people.<\/p>\n<p><em><strong>Do you think that investors are spending enough time researching the industry? Let us know in the comments below!<\/strong><\/em><\/p>\n<hr\/><p><em>Images courtesy of ShutterStock<\/em><\/p>\nTags: <a href=\"https:\/\/www.livebitcoinnews.com\/tag\/fraud\/\" rel=\"tag\">fraud<\/a>,<br> <a href=\"https:\/\/www.livebitcoinnews.com\/tag\/scam\/\" rel=\"tag\">scam<\/a>,<br> <a href=\"https:\/\/www.livebitcoinnews.com\/tag\/south-africa\/\" rel=\"tag\">South Africa<\/a>,<br> <a href=\"https:\/\/www.livebitcoinnews.com\/tag\/uk\/\" rel=\"tag\">UK<\/a>,<br> <a href=\"https:\/\/www.livebitcoinnews.com\/tag\/venezuela\/\" rel=\"tag\">venezuela<\/a> <br\/> <a href=\"https:\/\/www.livebitcoinnews.com\/cybercrime-center-in-uk-urges-crypto-enthusiasts-to-beware-of-fraud\/\">Read original article<\/a> <br \/><center><hr\/><em>Posted from my blog : http:\/\/blog.sye.host\/?p=1331 <\/em><hr\/><\/center> ",<br>"json_metadata":" \"community\":\"steempress\",<br>\"app\":\"steempress\/1.3\",<br>\"image\":[\"\" ,<br>\"tags\":[\"altcoinnews\",<br>\"bitcoinnews\",<br>\"fraud\",<br>\"industryandadoption\",<br>\"scam\" ,<br>\"original_link\":\"http:\/\/blog.sye.host\/?p=1331\" " | | comment_options | "author":"syeservices",
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