Watchdog warns of rising crypto scams

The Financial Conduct Authority has warned cryptocurrency scams are on the rise, urging UK consumers to be vigilant about how such scams work, and how to avoid them. The warning, which was first released in June, was re-published on the FCA’S website, as it said in “recent months” it has received “an increasing number of reports about cryptocurrency investment scams”. It said fraudsters often use social media, and celebrities’ images, to advertise.