$2.5 Million in Crypto-Related Scam Losses Reported This Summer by Cointelegraph

British police have issued a warning to the public regarding fraudulent investment schemes related to cryptocurrencies, which have resulted in losses totaling £2 million (approximately $2.55 million) over the summer. This information was shared in an announcement made on August 10.

According to the announcement, the police referenced data from the Action Fraud national reporting center for fraud and cybercrime. The statistics indicated that victims reported losses of around $2.5 million due to cryptocurrency scams in June and July, with the average loss per person being about £10,000 (roughly $12,700). Pauline Smith, Director of Action Fraud, commented on the situation.