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New analysis finds consumers reported losing more than $1 billion in #cryptocurrency to scams since 2021 (https://mobile.twitter.com/FTC/status/1532736940407152642?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1532736940407152642%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.fxstreet.com%2Fcryptocurrencies%2Fnews%2Fsocial-media-blamed-for-1b-in-crypto-scam-losses-in-2021-202206060335)
Social media blamed for $1B in crypto scam losses in 2021 (https://www.fxstreet.com/cryptocurrencies/news/social-media-blamed-for-1b-in-crypto-scam-losses-in-2021-202206060335)

What has the government doing so far to regulate social media like they are regulating exchanges, despite that people that are using social media like Facebook, Instagram and many others do not have privacy, scammers and illicit actors still make use of the same social media to scam people. From just 2021 to 2022 first quarter, people have been scammed over $1 billion on social media. Federal Trade Commission (FCT) found that Instagram (32%), Facebook (26%), Whatsapp (9%), and Telegram (7%) were the top platforms used for crypto scams. Twitter, the social media platform widely adopted by the crypto-community, was not mentioned despite being littered with spam and scam bots touting fake crypto-giveaways.

https://i.imgur.com/9P3J1yn.png

https://i.imgur.com/5SUEwjV.png

The funniest to me is that scam is not new on social media, but it is becoming commoner and the scam on social media regard crypto is increasing, definitely all other scam are increasing on social media. When social media is not a place of privacy, why not require for ID documents for better KYC procedure than focusing most only on exchanges

Unfortunately that's how it is — scams will continue to exist as long as it's profitable and people get tricked. Social media sites can add the best scam/spam filters they want, but they won't be able to totally out the scammers as they will always have newer ways of twisting things to get through the filters. People in general simply just needs to be not careless and delusional.

I'm going to sound cynical, but I don't care at all that the scammers managed to scam someone on social media.

We, who have gone through a bunch of scams, will probably never stop at offers of any distribution or the promise of good profit. But the higher the popularity of cryptocurrencies, the more often scammers will manifest themselves. Nothing surprising.

Surprisingly, people want to profit. They believe in social networks, but why are they so naive? After all, there are very few cases when someone wins or makes a big profit. But we see eccentrics who believe in a miracle from the Internet.

Social media is just evil. In addition, we fully provide the authorities with information about ourselves and our relatives and allow ourselves to be deceived.

These people are stupid, and their stupidity is rewarded in every piece of spam that promises wealth.

Financial fraud has always existed, only the ways and methods have changed.
Given the growing popularity of crypto, it was expected that the number of frauds would increase, and not only on social networks.
What is the solution? The solution is what most of us do not want to hear, greater regulation and control of state authorities.
Whatever our wishes, regulation will eventually happen, and as far as I hear the EU is already actively working to pass a law on greater regulation of the crypto industry.
Yet the best defense against financial fraud is not in state regulation but in common sense  ;D

Im sure it will double or triple in the next few years. Why those keep gaining on people, maybe we need to remind ourselves that there is no shortcut to becoming rich and those scammers propaganda is quite simple. Join it and youll rich in no time! A common statement or tagline scammers are fond of.

We should always be vigilant of whats to expect when we do risk and gamble on some freebies out there cause only few literally giving free money and maybe 99% of it are just fake one and scam.

Aside from the kinds of people wanting to be wealthy in just like 30 days, some of the people I have known who uses social media are mostly middle-aged people who have little-to-no idea of how Facebook works. Fortunately, these people who happen to be my relatives always consult me whenever they wanted to buy something from an advertisement.

I am not saying that Facebook advertisements are scams, it's just that crypto has taught us to improve our OPSEC and not trust something that randomly appears on the internet.

If we're going to blame social media for the prevalence of scams this day, then we ought to blame radios and televisions for vices before the advent of social media decades ago. From the way I see this, I really don't want to solely blame social media for this, victims should also share in the blame too. Greed has always been the driving force why people fall prey to scam. Scammers know this, and latch on it. What do you expect when people want to reap where they didn't sow?

There is an ongoing one someone introduced a few people I know to. Though it doesn't require money (at least at this stage), they say it's mining of a phantom token called BTCS. I jeered at them and told them to jettison that idea that it was a bid to steal their identity. Those interested are asked to provide passports/national ID numbers with facial proof of ownership as verification. The token isn't even listed 😂😂. I told those who tried talking me into it that it was an identity theft type of scam but they argued with me. Went behind me to register. The project is so shameless that it's even using BTC logo. So, tomorrow, when it becomes clear to them that it was a scam all along; is anyone supposed to blame SM for that? Nah, of course.

The biggest guilt is in those who do not understand how wrong it is to use social networks for any investment, especially when it comes to Bitcoin or cryptocurrencies in general. How naive you have to be (not to use a harder word) to believe in a business opportunity "send me 0.01 BTC, I'll give you back 0.02 BTC tomorrow", or, "your wallet is in danger, visit this link and enter your seed for wallet update"?

I’m not saying there are no social media responsibilities with unstoppably growing scams, but young people need to be educated in time on how to protect themselves from all the dangers that exist online. As things stand now, this kind of news only encourages other people to try to take their share of crypto cakes by trying to easily reach someone's crypto assets.

You are right about all what you said and including this one too, but if exchanges and many other places are to forice their customers to do KYC why are social media not force their users to do KYC? Social media are full of scammers. Anyone on social media are their not to have privacy, requiring them to do KYC will be better if exchanges are to forced their customer to do it.

Information is important in life, people that have knowledge about scam can say people that are scammed on social media and dating sites are foolish, they are foolish but the government can try and reduce this through KYC document requirements.

Although it is truly foolish to intentionally send money to someone that you do not know and that you know he has nothing to lose if the person is gone with your money.

As most people didn't want to spent their times to understand about Bitcoin and altcoins, crypto scam will always increase since not all people understand about it. It will reduced after they're learn a hard lesson, they choice will be either leave crypto space or will learn more.

Because it will lead demonstrators against their social media and migrate to another one, so instead of clearly asking a ID documents, they're asking you another thing and can be used to take your privacy e.g. phone number, email, verified photo, etc.

The disappointing part of it is that social media platforms like Facebook, Twitter, Youtube, etc., are paying less attention to these scammers and hackers who are impersonating various personalities, brands, companies, etc. Coz' no matter if we just simply ban these scammers and hackers from our respective pages and report them, they would keep coming back to scam and hack again with their different email addresses, etc.

We can't stop these scammers and hackers right now, but we'll just simply put a disclosure to make our followers aware regarding these tactics and to prevent being victimized in the future.

The campaign against cryptocurrency has never been about protecting the public or saving the environment. It has been about challenging the usage of Bitcoin as it threatens the centralized control the government has over finances, hence the incessant and most times baseless attacks.

Social media regulation does not really benefit governments, they can already get as much data from users as it is.

And if those figures sound largish, let’s bear in mind that the data only corresponds to reports made to de FCT, thus not including an estimate for those crypto scams that are not reported, and subject to a delimited geographical scope (USA).

The FTC’s report also indicates a couple more details:

-   Overall, the data corresponds to those scam payments made in crypto, being around 25% of the total, but crypto (taken as a whole) represents the most implicates payment method.

-   The median (not average) is of around 2600$.

-   Payments were made mostly in BTC (70%), Tether (10%) and ETH (9%) (I’m pretty surprised to see Tether above ETH).

-   Half of the people that were crypto-scammed had their point of contact in an Ad, post or message on social media. The other 50% are not detailed (I figure they must be direct landings, articles and such).

I would have figured Telegram was the top social networks used to commit these scams. The data states that Instagram stands out as the top social media network used for these scams, which is not the perception one has when reading cases on this forum. I miss YouTube on the list.

If all the scams had been reported you would have seen Tinder making the top 5 also  ;D
And unfortunately, it's not a joke, it's reality, I've seen numerous claims here on this forum about guys being scammed large sums of money after meeting somebody on Tinder, and on Instagram, usually the rich trader girl who is looking for an old friend in your city but she can't find it but since you're her type she will let you one a secret on how to make a ton of money!

I already know the whole story when a victim comes in and says someone he found on the internet has told him to (https://bitcointalk.org/index.php?topic=5310249.msg56125047#msg56125047), I've got so used to these I don't even have to listen to the what he says, I know all the steps beforehand. I think that these are the most under-reported scams, I don't see more than 1% of the scammed person going to the police station and telling the officers, I saw a sexy girl on tinder and I decided to send her 10k euros to invest in crypto, especially if the poor guy is married and was looking for an affair.


Scams on YT happen far less often and have little variations, is basically a video sending you to a website.
Instagram and telegram come with a lot of talk between the scammer and the victim, allowing for more scenarios and for more "intimate" conversations.  ;)

I think the most deceived are the people who have just started crypto. Their ignorance and carelessness make the deception even more intense. This is interconnected with the increasingly large market volume. Of course, many bad guys have seized this opportunity. So be a selective and conscientious person. Don't be easily attracted by huge profits. Be careful to post whatever it is related to your money, assets, family and all your assets. All of that they can use to benefit from you.  I think your key is only one, don't believe anything that's on social media before you find the real evidence and facts.

I think even if the government will create precautionary measures about it, it won't be able to stop scamming, although i believe it might be minimized somehow. The best way for it to be controlled is to create more awareness on the people so they can be more careful and never easily trust strangers found online as they can be the source of scamming. Social media is the trend right now so it will be hard for the people not to have an access on them but atleast they should always seek for legalization whenever transactions are done online.

They will not be able to cope on their own. Remember how many millions of videos there are on Youtube, they have the limitation of keeping an eye on it all. It seems like they need our contribution to do a report on a video that has content to deceive. I think it's not just youtube all social media there is, we just need to be careful with everything we post.
I think this increase is also based on an increase in the number of crypto followers. Because the chance of cheating is to a new person, although not all happens to new people. I think don't trust foreigners who offer business through virtual media. So your assets must be in your own control.

Asking the government to regulate the social media is more like asking for the regulation of people's right to freedom of speech and interaction globally.

It's left for people using social media to be self aware of how they make use of the media.

Social media users can't be expected to fulfil stringent KYC protocols before creating an account on a social media platform, similar to procedures required when creating an exchange account. Social media platforms are by design for interaction between people, and not necessarily a high-risk platform for trade/where money can be lost, i know quite a lot go on in our social media today, but that isn't its purpose, it is just that, as people interact with one another, there is also a high chance they would talk to a scammer sooner or later, and if they are not shrewd, they would lose funds to that person, but as a result of their own folly.

An Exchange is an area of trade, it is a platform where quite a lot of money goes in and out of, it is only necessary that KYC and AML policies and stamped in such platforms, it is by design a high-risk space where people can lose funds/get scammed. Social media doesn't really need these, people need to just get less greedy and actually think before attempting to make some fast money for themselves.

The hunt for quick cash and wanting to get Cryptocurrencies have lead a lot to damnation.. I have seen a current complains about Coinbase ( On Twitter ) and scammers would eventually come in to people who have already been scammed claiming to be what they aren't, fat lie's!!  Facebook is another zone for them as they engage in. I think it's totally not a good idea too go through social media for Cryptocurrencies investment. It's never been a wise move. Romancing and Investment are some of the ways scammers use, people should stop getting involve in distance relationships if the person is not well known,fake loves everywhere.

I don't think government can regulate social media to reduce crime , this is because they have no concern about the activities that is going on social media. The reason why government are desperate in regulating cryptocurrency is because they see cryptocurrency as a threat.

Many of us have been victims of scams before. I think having high hopes and believing glorified get-rich quick ideas have been the easiest way to get scam on social media. If you're looking to profit from where you didn't invest, you will most definitely get scammed.



I'm surprised by the percentage telegram has really, IMO it should be more than that, given the number of spam groups and fake groups that exist on that platform. Just asking a question on a popular crypto group will get your DM flooded with messages impersonating either the admin or the dev.

I don't think government can really do much to regulate social media without actually tampering with the fundamental human right of speech.

why am I not surprised by the increase in the number of frauds that only follows the trend of the increasing popularity of cryptocurrencies. although I'm not sure how accurate the data is, it is obvious that there is a correlation between the popularity of the social network and the number of scams on them. Instagram obviously dominate.
this is just proof that cryptocurrencies have become interesting to "ordinary" people as well, unfortunately, they are the most common target of fraud, just because of their ignorance but with a desire to make some money.

Does government say that they care that people are being scammed?
Do they care if it was through bitcoin groups or through social media that the scam happens?
There has been scam and there will still be scam.
The government imposition of laws and KYC is to make us pay tax and ensure that we are not trying to be richer than them. Maybe they will monitor and know when to print more fiat.
They won't sanction means through which they control us, they influence and sensor information that would be shown us through these social medias.
Don't be perplexed, if it's not decentralized, it's the government.

Now that social media has become the best outlet for the people, scammers will also make use of it so they can always drive with the trend. That way, they can always disguise themselves and continue to deceive people that are on their target list. I guess the government can no longer control it anymore, so the responsibility to avoid such scamming incidents will only depend much on the people that are active in the social media. If they can be knowledgeable and learn to identify  who's legit or not, then they can possibly avoid such scamming incidents in the social media.

Social media has always been a place where scammers source for their next unsuspecting victim. We were familiar with the dating scams on social media, but crypto scam is new definitely because it is still considered not to be completed exploited and plenty people have limited knowledge about it. NFT scams on social media will soon be more rampant as well. Every new innovation presents a new opportunity to scammers. Can we say crypto scammers on social media are increasing because of the difficult economic situations or because more individuals are becoming lazy and seeking to get rich quick without minding how?

Technically scammers use people's stupidity and greed to scam them, social media platforms are just mediums to maximize the number of people they can reach to scam. If government started getting more involved and brought the ban hammer, it would only slightly decrease the number of people who get scammed but it can never eliminate them. The only true way of eliminating scams is to inform people to stop buying altcoins specifically tokens.

If crypto scammers really started to be punished much more drastically than is the case now, I have no doubt that many would think twice before dealing with such things. If we agreed that most scammers are mostly amateurs that would be easy to catch, the decisive action of the authorities, crypto exchanges and social network owners could surely eliminate more than 50% of such scammers. It is quite another thing that none of those who can do something want to get their hands dirty for various reasons.

It suits the authorities that such things happen as much as possible because then they can say "Bitcoin is bad, cryptocurrencies are scam", crypto exchanges are only interested in making as much profit as possible, despite the fact that they know that some projects are doomed even before they are started, and social networks, in addition to profit, talk about some kind of freedom of expression and that they are powerless to suppress it from happening - so let's say that what they have in common is one of the principles of the forum - "scam is not moderated"



This seems like an impossible mission at the moment, because no matter how much you warn people on this forum, they are not only buying altcoins, but promoting them en masse.

Scam can happen anywhere and not only through social media because fraudsters are always looking for new targets everywhere.
If we are not careful with the advertisements we read, we can be deceived and send our money to scammers.
It will also relate to how we can look for more information that can show us whether the advertisements we read are true or false.
The rise of crypto advertising on social media should make us more careful.
Don't immediately follow someone's invitation or advertisements because they will tempt us to offer something that looks attractive.

That is why it is good to be wise enough. There are messages like that that do come strange people on Facebook, I usually ignore them and one day a girl chart me up on Facebook messenger, telling me he is a student from a particular university from my country. I know already she is not from my country but pretending to be from my country, she is able to answer my questions very well that I thought she would not be able to answer, but I knew it was a scam. Two days after, she demanded for money. I quite wasted her time, I knew she only wanted to scam, sending me fake nude pictures and videos. The scammers can even be a man, but doing all things possible to convince their victims in a way they can believe them and then demand for money.

I saw this news earlier today and I was really shocked, unfortunately, our government don't really know what to do to tackle this menace, they continue to go after what is not really the problem, and that is crypto regulations.
They should first of all put an end to all this scams, or at least, bring it down to the barest minimum, and how can they achieve this?
Like the op said, they should introduce a compulsory kyc verification upon all social media platforms, and those who run this platforms should mandate their users to pass through kyc verification, this will not only put an end to alt accounts, it will also install the fear of being caught in users when they think of scamming another user.

Government should rise up and tackle this menace from the root, and the root is social media, they should introduce or bring regulations to social medias as soon as possible because it is the root of all scams that happen in crypto.

Social media has been the favorite hang out place for all scammers these days because its where they can find their next target to scam. And if you are not careful enough exposing even your own possessions in facebook and let the whole world see it, i guess you are the one putting yourself in future troubles. This is the reason why we can't expect for social media scammers to stop from doing it because its not really them that control the situation, its the victims themselves who give them hints and reasons to scam them because they may simply fall into the scammer's traps.

It's true and even non-crypto related scams are still there such as those referral scams that would just waste your time endless while they claim that you could earn $20 instantly (even though that is just a small amount).
About the KYC, consider what happened back in "Facebook–Cambridge Analytica data scandal". Maybe no.

I could not agree more with your argument.  Authorities love these scams because they lower down Bitcoin's reputation.  If they wanted to do something against these scams, they would immediately act against them.  Why do we never see such scams about Google?  About Microsoft?  About any other corporation?  Why is it that Cryptocurrency 'send us money we send back double' scams have been going on and on for YEARS already and nobody seems to do anything about it?  They seem to have such intelligent filters and algorithms but they can not sort out Cryptocurrency scams.  Sure.

-
Regards,
PrivacyG

I believe you may be right about the authority enjoying the scammer activities on social media but I want you to know that the scammer activities in crypto didn't lower the reputation of Bitcoin because Bitcoin is not to be blamed for the naive decision made by the scammer victims.
Having said that, the authority is known for being selfish somehow and they will only take action against the crypto social media scammer after someone within their family or team is a victim.

This is the reality nowadays. Scamming has become more rampant in the social media because the people also allow it too. Even if there are still some red flags, people still chose to be convinced or lets' say being lured by the great scammers maybe because some are less educated about it or they just think that it's impossible for them to get scammed. Yet in the end, they only believe that they have been scammed once they lose their money and have no traces where to get it back.

Yeah, that is, unfortunately, this is the fact. Because we know that social media may be the easiest way to reach people from any space. because there are various people in social media, and they're also many greedy people who want instant money without willing to make certain analyses even if they know nothing about the project or crypto world. It may be started from one to another, from share to shares in the social media, they are then gathered in certain communities with mostly fake members who give fake proof about the profits to gain. Unfortunately, many people especially newbies trust them and then being victims of scams. Moreover, if the scam project is promoted by a certain influencer, it is very meant.

The headlin though! Sometimes I wonder what is there to blame on an on an app or a medium for being just that or working in that capacity. It's more like, blaming the bitcoin or cryptocurrencies for the fraud that is done using these medium.

Ignorance and greed remains why most users fall for the various schemes on the web with the social medias serving as just some link mechanism. I think some people are just immatured enough to use the social media and are just eager to be first adopters with hopes of gaining enough without even going through any stress. It's some idea that should be perished as, it could lead to some regretful ends.

It is certainly not the apps that have to be totally blamed, it was us who are too ignorant and don't understand how the scam works. However, with the existence of these social media, it happens that scams have been growing fast. In some other ways, they are also the reason for this and their participation and no action has been taken to regulate/stop any form of scam on their platform. 

But yes, it was our end to think if this is a scam or not, it was our decision.

The trend about crypto recently what makes people rise their curiosity on and I believe the urge to earn money what makes people think that they are in good position since they are seeing so many good stories use to hype up crypto on mainstream or even by their friends. That's why many fall for those scams because on their first try they see those platforms offer good profits and show some receipt that they will pay. For this people need to be more vigilant upon starting up because investments on ponzi's are not good investment and it will end up scam so we should be wise on our decisions.

I don't think it is the work  of the government to regulate social media, most of this social media are owned and operated by individuals,  by right it is the duty for social media operators  to be strict  on users in the way they use the social  media for their online business.  But it won't be possible for social media to be regulated by  their  owners because these social media platforms need users to advertise their business to generate funds.

You people should not get me wrong. Taking bitcoin for example, it is decentralized and people can have privacy with bitcoin. Okay, how about centralized exchanges, they are centralized and have KYC people needs to be verified, no privacy. Let us relate it to social media, no privacy as most people are posting and discussing about themselves, but a way to keep scammers among to remain anonymous and untraceable. Even if the government can not regulate social media, it is still a place to lose privacy and yet a place scammers can be anonymous which needs attention.

This is the hard fact that scammers can't be caught easily, however, they can make their evil plans easily succeed. Yes, I'd also think this was a major problem by now that the government must also help and regulate social media otherwise, this can be worse in the long run. The more we don't care about our privacy ( as it was very common on social media) the more it encourages scammers to use our identity to scam people. And I think this can't be done by the government alone, it is a need for us individuals to become sensitive and careful about what we do online.

I do believe this much. Many people from social media is very easy to find out. The types of social media are also various from Twitter, Facebook, Telegram and many others. Here, there are many channels, influencer, or grouos that are scamming people especially beginners by promising too god to be true projects, certain fake investment, and shit projects. And most beginers believe them much because they are more interested in money that they promise.

The social media has made scamming very easy. People carelessly disclose some vital information on social media. This scammers take advantage of this information to scam them and others. Also there are now sophisticated software that can be used to steal private information from people in the social media. Another reason for the increase of crypto scam in social media is because of greed and get rich quick mentality. People want to get rich without putting in any form of effort. Most of these scammers promises mouthwatering benefits that make greedy social media users invest without research or investigation.

Crypto scam is somehow a part of the society the government regulation on social media like in the case of exchanges is impossible because exchanges are more centralized because each user is entitled to a single account with KYC verification with regards to the account but in the case of Social Media account get hacked for scam purpose and multiple accounts can be owned by a single user making it more difficult to get regulated.

In social media, what we called scam it's not longer a new existing thing if i may say. Right now if people that has been scammed through all this social media platforms, you won't believe. It's obvious that communication are the attraction of getting easy access of scamming people. One thing we have to consider for people who are victims or victimized of scam. Is that they are desperate and curious to achieve all the wealth they need same time. So in conclusion it's greediness that lured them for all this social media for investment purpose.

Scam attempts via social media are on the rise and I never thought there would be a very good solution on the part of the platform to stop them or manually remove them from their platform without receiving reports from other users. It keeps happening on all social media including Facebook, Twitter, Telegram, Whatsapp and more.

Apart from that, we also know that emails and messages are never safe from scam attempts because almost all media nowadays will be used by scammers to get victims. So of course this must be the reason why we must always increase our vigilance and concern for security, because otherwise our assets will just disappear. Scammers are constantly working on their act, so we really have to be very attentive to anything to do with security and the little things that cause harm and that is the solution.

The government can actually regulate the social media based on what they've been investigating and the cause of it.

Each region has their own way of preventing these scams to be lessened down depending on the ruling because if the scammers are from the other countries, it's really hard to eliminate it unless they can solely remove them from the platform if proven to be against the rules of the social media platform.

As a citizen and a user of a social media, we should be responsible for our actions and the usual tip from our parents of not talking to strangers is applicable.

How are they just ignored while scams have been rampant on Facebook? And they did nothing before numbers of individuals become a victim. Though it is our responsibility to know if that is a scam or legit investment, yet it was also their participation to regulate and restrict such activities. I know they can't be blamed solely but it was us who are greedy of not thinking about it earlier before losing money to these scammers. This means that we can't rid of these scammers as for sure they will find a way and always there is a way knowing that many people remain innocent despite awareness.

They can help with regulation of social media and have legitimate registers only. But about the scams, they can act on it when there's a complaint from a victim.

But if there's not, these scammers will continue to their schemes as long as they're not caught. It's hard to have a fight against these scammers if most citizens are not educated on how to find one.

And yet, they're the ones who are greedy and don't regulate themselves in knowing that such schemes exists.

Social media is an open space for many shits and I don't see it as a platform I I can place my attention on for crypto interaction or business discussion with just anyone or page. The rate of scams right now no social media platform can totally filter.

It seems that some people want to believe in magical business so hard that they don't filter the facts behind the opportunities they find along the way. Social Media is not guilty for that. Maybe these platforms might/should implement security measures to avoid some scams, but as long as they are used by people to communicate with others, some will keep telling others what they want to believe, using social media just as a means to an end; and I'm not just talking about crypto.

Social media companies even officially promoted some scam websites because there is no proper check, all they need is to pay some money to them so they will show it to the target audience but most of the scams are happening in the old way just uses the greed of the users to get some juice and let them to be stranded because they trusted a random website with their money which was promoted by some influencers. Actually the things are started so the regulations are now turned towards the influencers so they hold responsibility and maybe charged if they promoted a scam.

Yup, crypto leaned heavily into social media. And even if it's not deliberate scams, it's still the leaser eyed shilling that just gives crypto a bad name and a bad look imho. So just as scams, there needs to be a stop to the glorification of crypto.

Sometimes people don't fall for online scam because they are too desperate of having money.  Some people fall because of they lack knowledge,  ignorance,  some of the things they see online are too real for them to be fake. Most of us have come across things like this, and it has been used to serve as a lesson.

To say the fact, there are so many aspect our governments has been salient about which is really affecting our society today, these social media is one of the ways people get scammed and has the highest of it all in every aspect, yet the attention of government is much concentrated on cryptocurrency amd how it's been used for scam while the social media scam receives no much attention, i still don't know why, everyone want to have crypto as a scape goat on scam related offenses, should it be because it's digitally decentralized or what.

'If you see something, say something' that has been the approach towards security and that applies very much to the crypto industry too. Good enough, I see quite a lot of reports on the scam accusation board. Hence, it could be said that users on the forum are taking a proactive approach towards tackling this menace to society. When it comes to the social medias, I think the various CEOs to a very few of them have set in motion steps to put the issue at bay. Not to mention face verification and they've been very loud in trying to sensitise its users and I say this with respect to Facebook

I really don't expect the government to do much as to the regulations of these scams. Messages on social medias are often protected end-to-end to ensure users privacy and the only point government could step in is in cases of reports and there have to be a user to give them the window to come in and do there investigations. It's usually difficult as these scammers assumes identity that isn't there's but, government agencies still do the most they could.

It's is left for individuals to be very careful with there privacy details and choices of investment on what they come across over the web. There is a risk in everywhere you turn. Always DYOR and be very cautious.

Even the old school "yellow kid" used this same phrase to scam people in the olden days. People cannot resist being greedy and earning from where they didn't work. It's more like a human nature and, some people take them into action, so scammers will capitalize from such set of people all year long. Nothing can be done about it. The technique is there if all social media gets regulated the same people that the government is trying to do a favor will leave those platforms, if scam reduces there, in search for a platform where scammers camp looking for quick money.

The government can't do anything to these scammers because they don't have the authority to control the social media. All they can do is warn people about the said scammer or company to avoid investing their money on it. People in social media can create or steal any identity they want. They can't arrest someone just because people are accusing the person without solid proofs that he is really the one that scammed them.

Not surprised, as criminals see an opportunity to cheat in crypto developments. The more new users, the happier the scammers will be because they have more targets. The government only handles the outside, they can't control the whole thing because of the decentralized system. Even though there are currently many crypto regulatory bodies, fraud still happens a lot. Then you have to be wise to use social media. You should think a lot before you upload photos or anything else because it is information for scammers. Smart in using social media will make you more secure and comfortable.

Mybe you can see this:
https://www.youtube.com/watch?v=NtrlsG80WHo
https://www.youtube.com/watch?v=u9dBGWVwMMA

This is why crypto scammers appears during bull market because newbies just entered in crypto market and will likely to find information and ways to earn in crypto. There's a chance that they will stumble in these scammers and be victimized by them because of their lucrative or too good to be true offers. Social media is now a hotspot to scammers weather it's crypto or just a normal fraud so we better be careful. Hackers also hacks various social media account that have substantial social media followers.  They use it to make it more believable to their victims. It's proven effective this past bull run.

Exactly, moreover if crypto is not legal in that country, it will not be processed. Although crypto itself is legal, as you said, government may face difficulties in processing our scam report, moreover if that is untracted, only our case, or even not a big case. It may be processed when there may be big accumulative victims reporting, solid and rnough proves, known scammers, but once more, it may still have difficulties to process and prove.
Even though our cases are processes, wil we get again our money?  :D