Wire fraud is a federal crime involving any plan to defraud or obtain money or property by means of false or fraudulent pretenses, representations, or promises transmitted by wire, radio, or television communication. This includes electronic communications such as emails, phone calls, and internet transfers. It covers a broad range of financial deception.
Context
Wire fraud is a common charge in cases involving cryptocurrency scams, illicit digital asset transfers, and other financial crimes within the digital economy. The global and instantaneous nature of crypto transactions often facilitates these schemes, making tracing and recovery challenging for law enforcement. News frequently reports on indictments and convictions related to wire fraud, emphasizing regulatory efforts to combat financial misconduct in the digital asset space.
The core vulnerability is the human attack surface, where high-yield promises and social engineering bypass investor due diligence, resulting in total capital loss.
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