{"id":56957,"date":"2023-09-05T02:21:23","date_gmt":"2023-09-05T06:21:23","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/portugal-reports-rise-in-crypto-scams\/"},"modified":"2023-09-05T02:21:26","modified_gmt":"2023-09-05T06:21:26","slug":"portugal-reports-rise-in-crypto-scams","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=56957","title":{"rendered":"Portugal Reports Rise in Crypto Scams"},"content":{"rendered":"
\n

Two Portuguese citizens have lost over $312,000 to crypto scammers, with police claiming that more people are falling victim to crypto fraudsters.<\/p>\n

Per CM-TV, the two individuals hail from Cantanhede, in Portugal\u2019s Coimbra District.<\/p>\n

The duo appear to have been promised they could expect \u201cquick profits\u201d by \u201cstaking\u201d coins on a platform.<\/p>\n

One of the duo sent $213,000 worth of Bitcoin (BTC) to a wallet they thought belonged to a bona fide crypto firm.<\/p>\n

This individual was reportedly told they could expect to make over $800,000 by storing their BTC on the platform.<\/p>\n

The other sent a combined total of around $94,000 to the same firm over the course of a month.<\/p>\n

But the firm appears to have been a front for an elaborate scam, with both \u201cinvestors\u201d eventually left out of pocket.<\/p>\n

The duo began to realize something was amiss when they were told they would need to \u201cpay an additional 3% of their stakes in fees\u201d if they wanted to withdraw their tokens.<\/p>\n

Later, they were informed that their coins had been \u201cfrozen,\u201d and told the coins could only be recovered if the investors paid thousands of USD in \u201cunlocking fees.\u201d<\/p>\n

The duo eventually understood they had fallen victim to a scam and filed a complaint with the police.<\/p>\n

Crypto Scammers Targeting Portuguese Investors?<\/h2>\n

Police said there has been a rise in crypto-related scams in recent months, in a nation once known as a crypto investor\u2019s haven due to the fact that (until recently) it did not tax crypto trading profits.<\/p>\n

The nation\u2019s Cybercrime Office said that \u201ccryptocurrency scams have more than doubled\u201d over the past two years.<\/p>\n

The office said it had received 94 reports of crypto-related scams this year, compared with just 38 in 2021.<\/p>\n

Police said victims complained that they had \u201clost large amounts of money\u201d on \u201cmultiple platforms.\u201d<\/p>\n

The Attorney General\u2019s Office noted that by the time most victims had filed a complaint, \u201cmost platforms had been taken offline, without leaving any details or contact details that would allow [investigators] to determine which internet server they were using.\u201d<\/p>\n

Earlier this year, prosecutors in the country claimed that incidents of cybercrime, including an undisclosed number of crypto scams, were rising fast in Portugal.<\/p>\n

The government unveiled plans to tax crypto-related capital gains at 28% in 2022.<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Two Portuguese citizens have lost over $312,000 to crypto scammers, with police claiming that more people are falling victim to crypto fraudsters. Per CM-TV, the two individuals hail from Cantanhede, in Portugal\u2019s Coimbra District. The duo appear to have been promised they could expect \u201cquick profits\u201d by \u201cstaking\u201d coins on a platform. One of the […]<\/p>\n","protected":false},"author":1,"featured_media":56958,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-56957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nPortugal Reports Rise in Crypto Scams | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Two Portuguese citizens have lost over $312,000 to crypto scammers, with police claiming that more people are falling victim to crypto fraudsters.Per\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=56957\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Portugal Reports Rise 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