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According to a report by WAVY News, Virginia has seen more than 1600 reported crypto scam cases since 2020.
Cybersecurity expert Bezalel Eithan Raviv, CEO of Lionsgate Network, states that many of these scams involve fake trading platforms, where people unknowingly transfer funds to scammers. He adds, “Crypto, unlike real money, is not about tracing people. It’s about tracing a code.”