March 11, 2020 New report finds that cryptoasset fraud poses a greater financial risk to US citizens than those surrounding general payments.

Better Business Bureau, an organization that measures the trust of businesses and charities, issued a report last week, outlining the financial losses that US citizens have incurred from cryptoasset fraud. The findings show that for those aged 25-44, the median loss from cryptoasset fraud was $3,000 and that in an overall index, that accounts for exposure and susceptibility, cryptoasset fraud was ranked the second riskiest type of fraud, behind only employment scams and ranking higher than those involving online purchases. The organization concluded that the high figure was due to users lacking a basic knowledge of digital assets and who were therefore taken advantage of by malicious actors. Strikingly, 31% of fraud cases originated from interactions with the exchange C2CX. Overall, according to the report, the year-on-year growth in cryptoasset fraud was recorded at 0.4%.