Crypto scams cost French victims €500m annually, AMF says

French authorities are grappling with an alarming rise in crypto scams, which contribute to an estimated €500 million in annual losses.

Financial scams continue to inflict heavy losses on French consumers, with the Paris Public Prosecutor’s Office estimating that victims lose at least €500 million each year.

In a Thursday press release on Dec. 26, the Autorité des Marchés Financiers revealed that the average loss for victims of financial scams in 2024 was €29,000. Many of these scams have targeted crypto investors, with fraudsters using fake celebrity endorsements and investment platforms, the regulator said.

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