Increases in the value of cryptocurrencies last year coupled with a rise in mainstream acceptance of Bitcoin has led to 400,000 crypto scams being created in 2020, a 40 percent increase compared to 2019, A new report from Bolster, a deep learning-powered, next generation fraud prevention company, forecasts a further increase of 75 percent this year based on current levels of suspicious activity. The global market capitalization for all cryptocurrencies reached a peak of $1.7 trillion in January 2021, which is an eight fold increase from January 2020.

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