The Cybersecurity 202: Cybercriminals scammed a record number of victims with cryptocurrency

These types of scams persist through bear markets, but thrive in bull markets because of first time investors hoping not to miss the opportunity to make significant profits, Narang said in an email. Because cryptocurrency is not a traditional investment, the allure of giveaways, especially those with celebrity impersonations of figures like Elon Musk, are likely to be more successful.

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