Crypto crime in the UK has increased rapidly since 2016

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As the crypto industry has grown, it has been accompanied by an increase in crime within it, which continues to hurt retail investors.

The appeal of crypto assets, such as high and fast returns, has led crypto criminals to keep coming in and trying, exploiting any loopholes, such as vulnerable platform security and under-educated retail investors.

In fact, misleading advertisements regarding rug pull crypto assets are still circulating on social media and have claimed many victims.

Their funds could no longer be saved because the perpetrators fled and some used mixing services to disguise their criminal assets.

And considering the ever-increasing rate of crypto crime, the UK is one of those countries that is consistent with that.

Crypto crime in the UK is on the rise

According to a Finbold report, since 2016, the UK is known to have had more than 34,000 reports of crypto-crime activity. 

From an in-depth investigation conducted by Crypto Head, the figure represents an average annual growth of 100 percent. Being a rapid and consistent growth for more than 5 years.

In addition, the investigation compared crypto-related complaints obtained by the Freedom of Information Act, with all cases in the UK, US and Australia.

Although the percentages vary, growth continues throughout the year, which looks consistent with the development of the crypto industry which continues to expand and absorb new investors.

And in just one year, the victims of crypto crimes in Queen Elizabeth's country have had a total loss of around US$241 million, or the equivalent of Rp3.61 trillion.

What is interesting is that almost 12 percent of the 9,458 victims were young people aged 18 to 25 years.

This is the age range where the victims are the most victims, possibly due to more frequent access to irresponsible and misleading information on social media.

Also, 59.8 per cent of victims throughout 2021 in the UK will be men. That's a little more than half, which means there are also a lot of women who are attracted to crypto assets, but who are victims too.

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