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The rise of fake cryptocurrency apps and how to avoid them

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Scammers have been taking advantage of blockchain’s decentralized and immutable nature to swindle crypto investors since the advent of the technology.And, according to the latest FBI fraud report, fraudsters are using fake crypto apps to steal money from unsuspecting crypto investors.

It highlights that American investors have lost approximately $42.7 million to swindlers through fake apps.The schemes reportedly take advantage of heightened interest in cryptocurrencies, especially during bull market runs, to beguile crypto users.Fake crypto app scammers use myriad techniques to entice investors.

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