There has been no shortage of scams in the crypto world and if you have been following this bubble, you will be well aware that people and trading platforms lost millions of Dollars. Needless to say, scams and frauds have been quite prevalent in the crypto world. Sure, there is no denying the fact that there is a lot of money to be made with the help of crypto investments, but the fact of the matter is that gaining profits from these investments is not enough.
You have to take into consideration a variety of factors in order to make sure that your crypto trading journey contains minimum errors while keeping you safe. This is because there is not a shortage of scams and fraudulent activities in this industry, and it has been this way for many years. With millions of Dollars worth of losses reported in the crypto world, it would be fair to say that people have been hesitant when thinking about making investments.
Only a few weeks ago, one of the biggest tragedies took place in the crypto world, when a group of hackers got away with millions of Dollars from Poly Network. For those who don’t know, Poly Network is a well-known crypto exchange, famous for helping investors trade and make great revenue. Fortunately, the exchange got help from a high-profile white-collar hacker and retrieved some of the money back.
After this happened, it was believed that things were slowly but surely getting back in control in the crypto world. However, things have taken a turn for the worst as of late. This is because a group of people has reportedly defrauded people from a scheme, getting away with millions of Dollars. In most cases like these, investors are the ones who take the most damage because of their willingness to take risks.
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According to several well-reputed reports, around 14 people had been arrested by the authorities in Taiwan. The reason behind their arrests is that these individuals defrauded a large number of people, taking millions of Dollars in the process. Taiwan’s criminal investigation bureau stated that the scheme was available online for a while and, thousands, if not millions of people laid their eyes on it.
Unfortunately, however, things did not go the way these investors thought they would, so they ended up losing a great amount of money. However, there has been some good news for these investors, which is, the people behind this fraudulent activity have been arrested. What’s more, the police has been taking serious action against these criminals in order to make sure that such instances are not repeated again.