• Latest
  • Trending
  • All
  • Industry
  • Compliance
  • Global Trade
  • Industry
  • Sustainability & Ethics
  • Video
  • Security & Risk
Cryptocurrency Scams Highlighted in Recent NPR Report: A Cautionary Tale

Cryptocurrency Scams Highlighted in Recent NPR Report: A Cautionary Tale

07/20/2023
The Allied Founders Celebrates Over 5 Decades of Excellence in Cast Iron Manufacturing and Global Export

The Allied Founders Pvt Ltd Nominated for Go Global Awards 2025

06/24/2025
The Allied Founders Celebrates Over 5 Decades of Excellence in Cast Iron Manufacturing and Global Export

The Allied Founders Celebrates Over 5 Decades of Excellence in Cast Iron Manufacturing and Global Export

06/24/2025
Comet Web Solutions LLP Nominated for Go Global Awards 2025

Comet Web Solutions Empowers Global Businesses and Individuals with Digital Innovation and Visa Expertise

06/24/2025
Comet Web Solutions LLP Nominated for Go Global Awards 2025

Comet Web Solutions LLP Nominated for Go Global Awards 2025

06/24/2025
CloudFirst Technology Private Limited Nominated for Go Global Awards 2025

CloudFirst Technology: Pioneering Cloud Innovation with Global Impact

06/24/2025
CloudFirst Technology Private Limited Nominated for Go Global Awards 2025

CloudFirst Technology Private Limited Nominated for Go Global Awards 2025

06/24/2025
UK Private Sector Growth Shows Modest Recovery Amid Ongoing Tariff Pressures

UK Private Sector Growth Shows Modest Recovery Amid Ongoing Tariff Pressures

06/23/2025
3rd Dairy Market Innovation Asia Pacific Summit 2025

Be Part of the 3rd Dairy Market Innovation Asia Pacific Summit 2025

06/20/2025
S.K.Singhi & Partners LLP Expands Global Legal Reach with LEXITS Platform and International Recognition

S.K.Singhi & Partners LLP Nominated for Go Global Awards 2025

06/19/2025
S.K.Singhi & Partners LLP Expands Global Legal Reach with LEXITS Platform and International Recognition

S.K.Singhi & Partners LLP Expands Global Legal Reach with LEXITS Platform and International Recognition

06/19/2025
Assist Export Bridges Global Markets with Strategic Trade and Consultancy Solutions

Assist Export Nominated for Go Global Awards 2025

06/19/2025
Assist Export Bridges Global Markets with Strategic Trade and Consultancy Solutions

Assist Export Bridges Global Markets with Strategic Trade and Consultancy Solutions

06/19/2025
supplychainreport
Wednesday, June 25, 2025
  • Home
  • Industry
    • Supply Chain
    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
    • Trade Agreements
    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
    • Fraud & Scams
    • Risk Mitigation
    • Security Protocols
    • Data Protection
  • ITC News
    • ITC Featured Members
    • ITC Business Councils Highlights
  • Events
    • Upcoming Conferences
    • Upcoming FREE Educational Webinars
No Result
View All Result
supplychainreport
No Result
View All Result

Cryptocurrency Scams Highlighted in Recent NPR Report: A Cautionary Tale

by Richie
07/20/2023
in Fraud & Scams, Security & Risk

A recent NPR report featured the story of 74-year-old Naum Lantsman, who reportedly lost a significant amount of money to a cryptocurrency scam. This incident has brought to light the increasing need for awareness and caution in the realm of digital currencies.

The report detailed how Lantsman encountered an entity named SpireBit, which presented itself as an international financial broker in the cryptocurrency space. Following his initial investment, Lantsman engaged in regular communication with a representative from the company, eventually leading to a substantial loss.

YOU MAY ALSO LIKE

Merchant International Systems Ltd Nominated for 2025 Go Global Awards in London

Merchant International Systems Limited Recognized for Excellence in Safety and Technology Solutions

This case underscores the growing concern around cryptocurrency investments. The Federal Trade Commission (FTC) notes a significant rise in cryptocurrency scams, reporting a 900 percent increase since the start of the pandemic. From early 2021 to the first quarter of 2022, over 46,000 people have reportedly been defrauded, totaling losses exceeding $1 billion in crypto-related scams.

Cryptocurrencies, unlike traditional banking or investment products, often lack fundamental safeguards such as insurance against market fluctuations, theft, or scams. The lack of regulatory oversight, while appealing to some, adds a layer of risk to these investments.

The Department of Financial Regulation advises investors in Vermont to exercise vigilance with cryptocurrency transactions and investments. The North American Securities Administrators Association has identified digital assets and cryptocurrencies as top investor threats, urging caution especially in the context of unregulated, volatile investments.

Crypto scams have been evolving, with con artists employing more sophisticated and personalized strategies. These can range from fabricated financial statements to intricate social media interactions. According to the Federal Trade Commission, platforms such as Instagram, Facebook, WhatsApp, and Telegram have been linked to a considerable number of crypto fraud cases.

Interestingly, while older individuals are often perceived as more vulnerable, adults aged 20 to 49 have reported falling victim to crypto scams at a rate three times higher than older age groups.

Victims of such scams are encouraged to report incidents to law enforcement as soon as possible. The Internet Crime Complaint Center (IC3), operated by the FBI, serves as the national center for reporting cybercrimes, playing a crucial role in the investigation and potential recovery of losses.

This situation highlights the importance of due diligence and caution in the increasingly complex landscape of digital currency investments.

Get comprehensive supply chain report news updates at The Supply Chain Report. For international trade tools, see ADAMftd.com.

#CryptoScams #CryptocurrencyFraud #DigitalCurrencyRisks #CryptoScamAwareness #FTCReports #CryptocurrencySecurity #SpireBit #FinancialRegulation #CryptoInvesting #CryptoLosses #CryptoConArtists #FBIIC3 #FinancialProtection #CryptoInvestors #AvoidCryptoScams

ShareTweet

Subscribe Our Newsletter

Share Your News

Whether it’s a groundbreaking achievement, a heartwarming tale, or an insightful perspective, we want to hear it. Share your news with us, and let’s amplify your voice in the digital symphony of stories.

Submit

A man is riding a bike on a hill.

The Supply Chain Report is your essential daily news website, serving as a trusted source for comprehensive coverage of the complex and ever-evolving global supply chain dynamics. Our expert team delves into the intricacies of international trade, manufacturing, logistics, importing, exporting, and supply chain management; providing in-depth analysis and up-to-date news on the latest trends, disruptions, and technological advancements affecting industries worldwide. From detailed reports on international trade through to insights into procurement strategies and inventory management, we offer valuable content that helps professionals stay informed and make knowledgeable decisions in a fast-paced market.

Each day, we bring you cutting-edge news and expert commentary that dissect significant international trade and supply chain issues Our coverage spans a wide array of sectors including manufacturing, retail, healthcare, food, consumer goods, and technology, ensuring that no matter your field, you have the strategic information needed to navigate the challenges and opportunities of today’s supply chain landscape. By synthesizing complex data and presenting actionable insights, The Supply Chain Report empowers business leaders, policymakers, and logistics professionals to optimize their operations and drive forward with confidence in an interconnected world.

Connect With Us

  • About
  • Events
  • Privacy Policy
  • Contact Us

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.

No Result
View All Result
  • Home
  • Industry
    • Supply Chain
    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
    • Trade Agreements
    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
    • Fraud & Scams
    • Risk Mitigation
    • Security Protocols
    • Data Protection
  • ITC News
    • ITC Featured Members
    • ITC Business Councils Highlights
  • Events
    • Upcoming Conferences
    • Upcoming FREE Educational Webinars

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.