Cryptocurrency Scams Surge 43% Amid Rising Losses; Reported Losses and New Crypto Tokens Increasing, Mumbai Woman Duped of Rs 6.37 Lakh

The rise of cryptocurrency and online investment scams has become a significant concern, with reported losses increasing sharply. A recent report highlights that virtual scams have surged by 43% over the past year. Experts warn that the majority of new crypto tokens entering the market are fraudulent, describing the situation as a 'game of cat and mouse.' Additionally, a specific case in Mumbai involved an Instagram advertisement that deceived a woman out of Rs 6.37 lakh. Authorities emphasize the importance of vigilance, urging individuals to verify investment platforms and be cautious of schemes promising unrealistic returns.