Fraud with crypto coins is on the rise, according to Fraud Help Desk

Fraud with crypto coins is increasingly common, the Fraud Help Desk has concluded. In the first four months of this year, 4 million euros worth of investment fraud has already been reported; in more than half of the cases it was related to crypto coins.

Investment fraud is carried out, among other things, with the help of fake advertisements. According to the Fraud Helpdesk, investment fraud is becoming easier because criminals use slick websites. Online companies are active all over Europe saying that they are investing in cryptocurrency for the customer through their trading platform, which may or may not be fake.

Those who fall for it are not stupid people, according to the Fraud Help Desk. The organization indicates that the scammers are smart and know exactly how to play people. Often the victims are elderly people who have more money in reserve to invest.

Double the amount of investment fraud in years
The Fraud Help Desk expects the total damage from investment fraud by 2021 to be around 17 million euros, with more than five hundred victims. This would almost triple the damage caused by investment fraud in a few years. In 2018 as a whole, the damage amount was around 5.8 million euros, whereby 168 people were harmed.

Boyan Slat, the founder of the non-profit project The Ocean Cleanup, warned on Twitter about crypto fraud on Thursday. There would be a number of crypto coins with a reference to The Ocean Cleanup. Slat said the project does not have its own currency.

The Fraud Help Desk is a government-funded organization that helps to prevent Dutch people from becoming victims of fraud.

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