Speculators Lure Over $35 Million From French Crypto Investors
According to data provided by Autorité des marchés financiers (AMF), since the beginning of 2018, more than 700 French depositors have been swindled by crypto scammers, Le Parisien reports.
AMF research has shown that the total sum of stolen funds amounted to €31 million (more than $35 million). The fraudsters got a phone number of a potential depositor, then they contacted him, convinced to invest money in the platform to buy bitcoin, and investors got a fake instead of real tokens.
Helene Feron-Poloni, a lawyer who specializes in Heritage issues, stated that bitcoin is a difficult system to understand, especially for citizens who don’t have a proper understanding of it and just want to make money.
For more than seven years, starting in 2010, several thousand French crypto investors have suffered damage totaling more than €4 billion (about $4.6 billion). In the republic, the online crypto advertising was banned, thus, the attackers were suspended for some time, however, soon, the frauds with fake bitcoins started to appear again.
According to Brian O’Hagan, Chief Marketing Officer at Coinhouse, their team has already discovered more than 200 websites involved in fraudulent activity. He also added that the number of cryptos gotten from the frauds might exceed €100 million in Belgium. Given this, in his words, "In France, a country five times more populous [than Belgium], there are fears scams will result in damages ranging up to the hundreds of millions of euros."
As previously reported, the authorities decided to adopt regulations on the organization of ICO in France.