The United Kingdom’s national fraud center, Action Fraud, recently issued its report for the past year, according to which the victims of investment scams in the UK have lost a record 339 million GBP. There have been 6,427 reported investment scams for the past year. According to experts in the field, the number of cryptocurrency scams is rising, because while cryptos have become quite popular, people are less familiar with that industry and scammers use that ignorance to trick them with greater ease. According to a report by the British financial regulator, the Financial Conduct Authority (FCA) investors in the country have lost about 27 million GBP to cryptocurrency and forex scams. I am not at all surprised that crypto scams are on the rise – they are the next big fad for making money, and they attract many people who are greedy but have no idea what they are doing.