FTC: Cryptocurrency Scams Cost $1-Billion In Losses Since 2021. Of Course California Paid Out $20-Billion In Fraudulent Unemployment Claims

(Washington, DC) — Federal regulators say cryptocurrency scammers have stolen more than a billion dollars from thousands of investors over the past year and-a-half. For comparison , the state of California paid out $20,000,000 in fraudulent EDD claims (https://www.kcra.com/article/edd-admitted-paying-out-20-billion-fraud-what-you-could-buy-with-that-money/38454964). In a report issued Friday, the Federal Trade Commission said more than 40-thousand Americans were taken in by scammers since the start of 2021. The FTC said crypto-related scams account for about one out of every four dollars lost to fraud, more than any other payment method. Younger investors, aged 25 to 40, are three times as likely to lose money due to fraud.