UK Consumers Lost $33.29M to Bitcoin Scams: FCA

Consumers in the United Kingdom lost at least £27 million (~$33.29 million) to scams involving cryptocurrencies like bitcoin, reveals the country’s watchdog.
The Financial Conduct Authority (FCA) said the amount of crypto- and foreign-exchange related crimes have increased by 74 percent this year. The authority added that it now has 87 inquiries compared to 50 during the same time last year. The number includes early-stage inspections to full-fledged enforcement probes.
David Heffron