CDS Crypto News Global Crypto Fraud Analysis: United States Tops the List with 43% of Fraudulent Projects
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Global Crypto Fraud Analysis: United States Tops the List with 43% of Fraudulent Projects

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Global Crypto Fraud Analysis United States Tops The List With 43% Of Fraudulent Projects

Global Crypto Fraud Analysis: US, China, and UK in Focus

Global Crypto Fraud Analysis: Us, China, And Uk In Focus

According to research by 5Money and Storible, a few countries, including the US, China, and the UK, are said to be the source of a significant portion of global frauds and unsuccessful cryptocurrency initiatives. From January 2022 to October 2024, 1,544 cryptocurrency projects were launched worldwide, and experts examined data from these projects.

43% of all scam initiatives had American founders, making the US the top country on the list. This was ascribed to the large number of cryptocurrency projects introduced in the United States and well-known incidents like FTX’s 2022 crash. The next two countries with the highest percentages of scam projects are China (8%) and the UK (7%). 

Scams and failed projects are more common in countries with strong market growth,

the report

Scam and Failure Rates in Crypto: International Standards Urged by Researchers

Researchers compared the number of scam projects started by developers in each country to the total number of crypto projects in order to identify the countries with the greatest percentage of scam crypto projects. Russia came in first, with analysts determining that 24% of all projects started by Russian developers were scams. With 22% of projects being scams, Swiss developers came in second, followed by Chinese developers with 20%. With 12% of its cryptocurrency projects identified as fake, Vietnam also placed in the top ten.

Even though there are fewer failed cryptocurrency projects overall than in nations like the US, South Korea has the greatest percentage of them, with 59% of all projects there being deemed dead. In the UK, more than half of initiatives failed, and Singapore came in second with 54%. Canada and the Netherlands had 50% failure rates, and Vietnam came in sixth place in the world with 42% of all initiatives that were started there failing. In conclusion, the study emphasized that in order to combat the frequency of fraud and unsuccessful projects, international standards and more stringent laws are required.

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Global Crypto Fraud Analysis: United States Tops The List With 43% Of Fraudulent Projects 281868
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lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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