Cryptocurrencies, a new playground for scammers

Being rich with less effort is the promise kept by certain advertisements for cryptocurrencies, entirely digital money. However, some investments can turn out to be scams. A railway worker met by France 2, wishing to remain anonymous, lost more than 10,000 euros of savings.

Two years ago, he invested this sum in a company recommended by a family member. The return promise was then 300%. From the start, this man sees its setting to bear fruit. Six months later, the site suddenly stops working and this railway worker can no longer access his account. “For me, above all, it’s the feeling of shame at having been tricked like that.” he confides. “10,400 euros, for me, is a huge sum. I tell myself that I could have seen the months to come.”

This railway worker decided to file a complaint, like 150 other victims of this same scam.

A lack of knowledge around cryptocurrencies

In France and around the world, this type of scam is increasing, particularly thanks to social networks. To understand how certain consumers are trapped, France 2 created a false profile on these networks. Very quickly, people contacted the journalist, who claimed to be interested in cryptocurrencies. Scammers offer paid online training and rely on a Ponzi pyramid, an illegal fraud. This is punishable by at least five years in prison and a fine of 375,000 euros.

According to lawyer Alexandre Dakos, who defends hundreds of clients, the danger lies in ignorance of cryptocurrencies. “When we talk about cryptocurrency scams, very often, there is no real cryptocurrency behind it. Often, these fictitious cryptocurrencies are actually empty shells. he explains. Scam authors are frequently part of sprawling networks, and regularly change strategy, adds the expert.

In 2023, the Financial Markets Authority (AMF) blocked nearly 80 sites due to the promotion of fraudulent products.