About 40% of crypto-related complaints received by the Consumer Financial Protection Bureau in the last four years are reports of fraud, led by “pig butchering” and other romance scams, the agency said.
The CFPB has received more than 8,300 cryptocurrency complaints from consumers between October 2018 and September 2022, the bureau said in a report Thursday.
Complaints related to transaction difficulties made up a quarter of the total in its database. Complaints about crypto assets not being available as promised represented 16% during the period, the CFPB said.
Other frequently cited complaints include mandatory arbitration clauses employed by cryptocurrency firms ...
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