UK cryptocurrency scams jump 23%, young investors prime targets: Lloyds Bank

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One of the Big Four banks in the United Kingdom, Lloyds Bank, has said that reports of cryptocurrency investment scams by victims have surged by 23% in the current year compared to the same period in 2022.

According to a press release

This Lloyds Bank report corresponds with findings from a Coinbase report on the cryptocurrency landscape, indicating that younger Americans are more receptive to unconventional avenues for financial independence, including crypto, than older generations. This susceptibility makes them vulnerable to scams.

Younger generations actively explore new economic opportunities, laying the foundation for a modernized system and a revitalized version of the “American Dream.” As the report outlines, they see technologies like cryptocurrency as a tool to modernize the system.

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