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flag Cryptocurrency scams surge, causing over $5.6 billion in losses in 2023, a 45% jump from 2022.

flag Cryptocurrency scams have led to a significant rise in investment fraud, with losses exceeding $5.6 billion in 2023, a 45% increase from the previous year. flag Scammers often use socially engineered tactics, like building trust over time through fake relationships, to lure victims into investing in fraudulent schemes. flag These scams, such as "pig butchering," have become more sophisticated, utilizing AI to create convincing fake videos and alter images, making them harder to detect.

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