New Report Finds Investors Have Lost Over $16 Billion to Crypto Scams Since 2012

SEOUL, South Korea, Jan. 27, 2021 /PRNewswire/ -- Crypto disclosure and transparency platform Xangle has released the findings from its new Crypto Investor Scam Report.  

The research includes all known crypto and digital currency-related investment scams that took place from Jan. 1, 2012, to Dec. 31, 2020. It was conducted using media articles, press releases, legal filings, and publicly available court documents.

Commenting on the findings, Lihan Lee, co-founder of Xangle, said, "For the crypto asset class to reach its full potential, we must ensure that investors are protected and that those who defraud investors are held accountable for their crimes. As a community, we must join together to drive scammers out of the industry by making complete transparency a core pillar that every crypto project is built on top of."

Key Findings 

• Investors have lost an estimated $16,546,541,956 since 2012 across 132 different scams.
• 527 individuals have faced criminal charges for their roles in crypto-related scams. 
• The combined sentences for individuals involved in scams is over 160 years.
• 14 crypto projects have seen their members charged and sentenced to date. 
• Of all reported scams, 24 projects or organizations have no known charges — civil or criminal. 

To access a full copy of the report, click HERE.

Xangle is a global leading crypto asset disclosure platform working with global leading players to bring data transparency by providing full scope information on assets. Xangle sources and curates on-chain data and assists in off-chain inputs and this combination of on-chain and off-chain datasets can provide a complete 360-degree overview for any crypto asset.

Media contact: [email protected]

Related Images

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Crypto Investment Scams by Start Date (USD)

SOURCE Xangle