The FTC warns of rising losses in crypto fraud.

According to analysis conducted by a virtual private network company, scammers with more than $ 13 million from investors have made their way through ongoing and fraudulent blockchain schemes that use tactics to trick people into buying non-existent services.

So far this year, about $ 13.4 million has been raised from the Top 10 Most Successful Blockchain Scams which are currently active according to Atlas VPN. In a report released on Wednesday, the company said it was investigating numbers from Scam Alert, a website powered by the cryptocurrency transaction tracker Whale Alert.

“By their very nature, blockchain projects remain profitable targets for cybercriminals,” as victims can be lured with quick-get-rich schemes, Ruth Cizynski, cybersecurity researcher and author at Atlas VPN, said in the report. Second, fraudulent transactions cannot be easily traced or reversed, as can be the case in traditional finance.

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