![(FILES) In this file photo taken on June 17, 2014 in Washington, DC shows bitcoin medals. US authorities arrested three men in an alleged fraud that raised $722 million from investors lured by fake bitcoin mining earnings, the Justice Department announced on December 10, 2019. Prosecutors described the scam as a "high-tech Ponzi scheme" run by the "BitClub Network," which took money from investors and rewarded them for recruiting new shareholders. / AFP / KAREN BLEIER / TO GO WITH AFP STORY - "Florida city agrees to pay $600,000 ransom to hackers"](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/TT6PPTXZK2BNPZ4A5MTW7T4VNU.jpg?smart=true&auth=494a0d54b67380d860848eebbd06aa6743c522a63eb53bcfd047f7b62a3bc10f&width=400&height=225)
More than 46,000 people reported losing more than $1 billion in cryptocurrency frauds between the start of 2021 and June 2022. AFP
More than 46,000 people reported losing more than $1 billion in cryptocurrency frauds between the start of 2021 and June 2022. AFP
US SEC cautions investors about crypto assets' securities risks
The cryptocurrency sector went through a troublesome year in 2022, marred by company collapses and cyber crimes