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Fraudulent Activities Incrementally Haunts Digital Assets

Investments in digital assets are by far the greatest danger to individual investors in 2022, according to a North American Securities Administrators Association annual survey of securities regulators. Fraudsters continue to take advantage of the growing popularity of digital assets to dupe retail investors, frequently resulting in catastrophic losses. According to NASAA's, fraudulent promissory note offerings, social media money scams, and frauds involving self-directed individual retirement plans are amongst those top-three lists of hazards to retail investors' financial activities. Investors are advised to take caution when purchasing popular and volatile unregulated products, particularly those involving cryptocurrency and digital assets, according to NASAA's authorities. "The most common telltale sign of an investment scam is an offer of guaranteed high returns with no risk. It is important for investors to understand what they are investing in and with whom they are investing," said Melanie Senter Lubin, NASAA President to CNBC International. Regardless, a sizable portion of the investors still believes in these fraudulent schemes. There were 82,135 reported crimes in the US alone involving cryptocurrencies such as bitcoin, ethereum, and other digital currencies, according to new research from the cryptocurrency education portal, Crypto Head. Other parts of the world have witnessed similar tendencies. In 2020, Australia had reported 9,689 cryptocurrency crimes, up f