Definition ∞ A crypto scam refers to any fraudulent scheme designed to deceive individuals into relinquishing their digital assets or personal information under false pretenses. These schemes often involve deceptive investment opportunities, fake exchanges, phishing attacks, or fraudulent initial coin offerings. Perpetrators exploit the technical complexity and speculative nature of the cryptocurrency market. Victims typically experience irreversible financial losses.
Context ∞ Crypto scams are a constant and unfortunate subject in digital asset news, highlighting the ongoing risks within the unregulated or less regulated sectors of the market. Reports frequently detail new methods employed by fraudsters and warn investors about prevalent tactics. Law enforcement agencies globally are increasing efforts to combat these illicit activities, often reporting on arrests and asset recovery. Public awareness campaigns and security education are critical in mitigating their impact.
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