A recent Chainalysis report reveals that Indians visited websites hosting crypto scams 9.6 million times in 2021. This is actually a drop from 2020 when the figure was 17.8 million.
As the crypto market grows ever more popular in India, an increasing number of the country’s citizens are visiting crypto scam websites. A recent report by blockchain intelligence firm Chainalysis revealed that Indians visited crypto scam websites 9.6 million times in the last year.
However, there does appear to be some awareness spreading concerning crypto scams, as the figure has dropped from 2020’s value from 17.8 million visits. The interest in cryptocurrencies has taken off in the past two years and continues to grow as exchanges as WazirX and CoinDCX grow.
Cryptocurrency fraud has been on the rise in India, with many scam operation rings busted. The country’s authorities have doubled down on their efforts to prevent fraud as India’s blockchain and cryptocurrency industry grows.
The country’s youth is particularly enthusiastic about cryptocurrencies, with several reports indicating that the age group is driving investments in the asset class. Indian banks have taken a strong stance against the asset class, with many investors receiving emails warning them against investment.
Malicious attacks have also targeted high-profile individuals in the country. India’s own Prime Minister Narendra Modi had his…
