The government’s done a deep-dive on how consumers have been hurt by crypto
by Mitchell Clark from The Verge - All Posts on (#65PV5)
As crypto prices have gone up, so have the number of scams. | Illustration by Alex Castro / The Verge The US government's Consumer Financial Protection Bureau has put out a warning that it's seeing a rise in complaints related to cryptocurrencies and assets. As much of a shock as that may be, it's not just concerned with straight-up fraud and scams, though those are the most common problems the agency hears about - the CFPB also says consumers have been sounding the alarm about issues with transactions going through, lost savings, and more.
The bulletin is a 45-page document that analyzes the crypto-related complaints the CFPB has received from October 2018 to September 2022, showing the increasing frequency of consumers reaching out for help and providing several examples of bad behavior. In that time frame, almost 40 percent of the...