Bitcoin fraud in the UK has tripled in the past year.
Research by Action Fraud, the UK’s national fraud and cybercrime reporting agency, says the increase is due to the rising price of Bitcoin. The currency rose in value last year from just under £710 to £14,000.
If any new business concept takes off and becomes a huge success, there are always many people looking to be part of it. Often, however, people’s naivety or over enthusiasm can offer chances for those looking to make fraudulent gains.
Bitcoin appears to be the latest “must have’’ new business opportunity. But anyone wanting to be involved with it must use good, old-fashioned caution. They should approach any investment in it with the care and diligence that they would exercise with anything else they may consider spending money on.
Read our article: BITCOIN AND DIGITAL FRAUD