‘Worrying rise’ in crypto scams claiming to be celebrity-endorsed

Based on the current growth in these frauds, Santander UK is expecting to see an 87% increase in volume of cases in 2022, compared with 2021. — AFP Relaxnews

LONDON: A “worrying” surge in reports about cryptocurrency scams which falsely claim to be endorsed by celebrities is being seen by a major bank.

On average, people lost £11,872 (RM63,333) to this type of scam in the first quarter of this year, Santander UK said.