Cryptocurrency Scams: A Multi-Pronged Approach to Mitigating Risks Through Regulation, Enforcement, and Consumer Education

This article explores the risks and impacts of cryptocurrency scams on investors, the market, and the global financial system. It emphasizes the need for government regulation, enforcement activities, and consumer education to address these scams. The article also discusses the relationship between the grey economy and the technosocial, highlighting the evolving nature of online and offline life and its implications for criminology. The study uses ethnographic research and participant observation to investigate the cultural context of cryptocurrency frauds. It examines various types of scams, including pump-and-dump schemes, advanced fee frauds, and rug pulls. The article concludes by emphasizing the importance of combating cryptocurrency frauds to protect investors, foster technological innovation, and maintain customer trust.