Crypto scams price French victims €500m yearly, AMF says

Crypto scams price French victims €500m yearly, AMF says

French authorities are grappling with an alarming rise in crypto scams, which contribute to an estimated €500 million in annual losses.

Monetary scams proceed to inflict heavy losses on French customers, with the Paris Public Prosecutor’s Workplace estimating that victims lose no less than €500 million every year.

In a Thursday press launch on Dec. 26, the Autorité des Marchés Financiers revealed that the common loss for victims of economic scams in 2024 was €29,000. Many of those scams have focused crypto traders, with fraudsters utilizing faux superstar endorsements and funding platforms, the regulator mentioned.

“Fake videos and press articles are used to replicate the physical characteristics of celebrities, sometimes using artificial intelligence. These celebrities then inadvertently reveal the source of their wealth, obtained thanks to an alleged crypto-asset trading offer, which turns out to be a complete scam.”

The Autorité des Marchés Financiers

Though the variety of complaints has dropped, presumably due to compensation schemes and legislation corporations grouping circumstances collectively, the AMF says French authorities are nonetheless taking motion towards fraudsters. Since 2022, the AMF and the Autorité de Contrôle Prudentiel et de Résolution have blacklisted virtually 5,000 unauthorized market contributors, the press launch reads. They each have additionally labored to dam almost 350 fraudulent web sites.

In November 2023, an AMF research confirmed that extra French folks personal crypto than shares or exchange-traded funds. The survey discovered that 9% of individuals personal cryptocurrencies, in comparison with 7% who maintain shares and a pair of% with ETFs.

The AMF urged the general public to stay vigilant, warning towards affords that appear “too good to be true” and advising people to seek the advice of official registers earlier than making investments.

Supply hyperlink

author avatar
Crypto Dunia
bitcoin
Bitcoin (BTC) $ 106,354.50 0.61%
ethereum
Ethereum (ETH) $ 2,437.97 1.43%
tether
Tether (USDT) $ 1.00 0.01%
xrp
XRP (XRP) $ 2.18 1.78%
bnb
BNB (BNB) $ 650.61 0.43%
solana
Solana (SOL) $ 149.04 2.40%
usd-coin
USDC (USDC) $ 1.00 0.01%
tron
TRON (TRX) $ 0.281329 0.62%
dogecoin
Dogecoin (DOGE) $ 0.159969 2.39%
staked-ether
Lido Staked Ether (STETH) $ 2,437.63 1.37%
cardano
Cardano (ADA) $ 0.552473 2.36%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 106,294.48 0.60%
hyperliquid
Hyperliquid (HYPE) $ 37.62 3.59%
bitcoin-cash
Bitcoin Cash (BCH) $ 506.55 3.10%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,937.90 1.54%
sui
Sui (SUI) $ 2.70 3.15%
chainlink
Chainlink (LINK) $ 12.98 1.81%
leo-token
LEO Token (LEO) $ 8.94 1.45%
avalanche-2
Avalanche (AVAX) $ 17.41 1.01%
usds
USDS (USDS) $ 1.00 0.02%
stellar
Stellar (XLM) $ 0.230686 2.50%
the-open-network
Toncoin (TON) $ 2.79 2.84%
shiba-inu
Shiba Inu (SHIB) $ 0.000011 0.20%
weth
WETH (WETH) $ 2,439.16 1.40%
whitebit
WhiteBIT Coin (WBT) $ 44.32 0.65%
litecoin
Litecoin (LTC) $ 84.03 2.49%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,603.80 1.67%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.04%
hedera-hashgraph
Hedera (HBAR) $ 0.146267 2.77%
monero
Monero (XMR) $ 314.67 1.31%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.03%
bitget-token
Bitget Token (BGB) $ 4.48 0.74%
polkadot
Polkadot (DOT) $ 3.32 0.72%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 106,317.49 0.70%
uniswap
Uniswap (UNI) $ 6.79 3.59%
aave
Aave (AAVE) $ 260.41 4.09%
pepe
Pepe (PEPE) $ 0.000009 2.06%
pi-network
Pi Network (PI) $ 0.485986 0.35%
dai
Dai (DAI) $ 1.00 0.01%
ethena-staked-usde
Ethena Staked USDe (SUSDE) $ 1.18 0.08%
okb
OKB (OKB) $ 49.18 1.20%
aptos
Aptos (APT) $ 4.46 6.21%
bittensor
Bittensor (TAO) $ 321.52 3.61%
blackrock-usd-institutional-digital-liquidity-fund
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00 0.00%
jito-staked-sol
Jito Staked SOL (JITOSOL) $ 180.72 2.38%
near
NEAR Protocol (NEAR) $ 2.10 0.83%
internet-computer
Internet Computer (ICP) $ 4.77 1.19%
crypto-com-chain
Cronos (CRO) $ 0.080394 0.23%
ethereum-classic
Ethereum Classic (ETC) $ 16.13 1.80%
ondo-finance
Ondo (ONDO) $ 0.75204 0.92%
susds
sUSDS (SUSDS) $ 1.06 0.00%
usd1-wlfi
USD1 (USD1) $ 0.999809 0.01%
kaspa
Kaspa (KAS) $ 0.074679 0.62%
mantle
Mantle (MNT) $ 0.575475 0.99%
fasttoken
Fasttoken (FTN) $ 4.42 0.24%
gatechain-token
Gate (GT) $ 15.53 0.94%
tokenize-xchange
Tokenize Xchange (TKX) $ 23.46 5.82%
cosmos
Cosmos Hub (ATOM) $ 3.99 0.64%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 0.680321 2.19%
vechain
VeChain (VET) $ 0.020495 2.36%
official-trump
Official Trump (TRUMP) $ 8.58 1.71%
lombard-staked-btc
Lombard Staked BTC (LBTC) $ 106,320.49 0.59%
sky
Sky (SKY) $ 0.078242 2.72%
arbitrum
Arbitrum (ARB) $ 0.334354 1.34%
render-token
Render (RENDER) $ 3.13 0.05%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.179441 1.94%
ethena
Ethena (ENA) $ 0.256529 2.57%
jupiter-perpetuals-liquidity-provider-token
Jupiter Perpetuals Liquidity Provider Token (JLP) $ 4.45 0.99%
filecoin
Filecoin (FIL) $ 2.23 1.82%
sei-network
Sei (SEI) $ 0.270388 6.34%
algorand
Algorand (ALGO) $ 0.173413 7.27%
binance-peg-weth
Binance-Peg WETH (WETH) $ 2,435.63 1.36%
first-digital-usd
First Digital USD (FDUSD) $ 0.999871 0.14%
usdtb
USDtb (USDTB) $ 1.00 0.03%
worldcoin-wld
Worldcoin (WLD) $ 0.865327 1.76%
kucoin-shares
KuCoin (KCS) $ 11.08 0.48%
binance-staked-sol
Binance Staked SOL (BNSOL) $ 157.99 2.49%
jupiter-exchange-solana
Jupiter (JUP) $ 0.428392 4.36%
usdt0
USDT0 (USDT0) $ 1.00 0.01%
nexo
NEXO (NEXO) $ 1.20 1.54%
rocket-pool-eth
Rocket Pool ETH (RETH) $ 2,779.55 1.37%
flare-networks
Flare (FLR) $ 0.016923 2.31%
kelp-dao-restaked-eth
Kelp DAO Restaked ETH (RSETH) $ 2,555.33 1.39%
trinique
TNQ (TNQ) $ 10.26 468.75%
bonk
Bonk (BONK) $ 0.000014 0.97%
spx6900
SPX6900 (SPX) $ 1.15 2.68%
polygon-bridged-usdt-polygon
Polygon Bridged USDT (Polygon) (USDT) $ 1.00 0.00%
fartcoin
Fartcoin (FARTCOIN) $ 1.05 5.98%
injective-protocol
Injective (INJ) $ 10.40 0.60%
binance-bridged-usdc-bnb-smart-chain
Binance Bridged USDC (BNB Smart Chain) (USDC) $ 1.00 0.03%
blockstack
Stacks (STX) $ 0.64371 0.72%
pudgy-penguins
Pudgy Penguins (PENGU) $ 0.015513 8.19%
sonic-3
Sonic (S) $ 0.301098 2.56%
virtual-protocol
Virtuals Protocol (VIRTUAL) $ 1.47 0.06%
celestia
Celestia (TIA) $ 1.39 2.58%
xdce-crowd-sale
XDC Network (XDC) $ 0.058646 0.56%
optimism
Optimism (OP) $ 0.538297 2.78%
pax-gold
PAX Gold (PAXG) $ 3,347.17 0.50%
paypal-usd
PayPal USD (PYUSD) $ 0.999838 0.04%
mantle-staked-ether
Mantle Staked Ether (METH) $ 2,605.26 1.56%
Scroll to Top