Crypto Scams Surge 45% in 2023: Consumers lost over $5.6 billion last year due to cryptocurrency-related scams,
a 45% increase from 2022, according to estimates from the FBI.

Content

China Exports

UK Unemployment Rate

Crypto Scams and Frauds

China Exports Exceed Expectations in August with a Trade Surplus of $91 Billion

China’s exports experienced unexpected growth in August,
reaching their highest value in nearly two years,
providing a rare boost to an economy struggling under deflationary pressures.
Exports rose 9% from last year to around $309 billion,
the highest level since September 2022, significantly surpassing analysts’ estimates.
Customs authorities said on Tuesday that imports increased by only 0.5%,
leading to a trade surplus of $91 billion in August.

China’s exports have been a bright spot in an economy plagued by recession and a real estate crisis.
However, the influx of cheap goods into global markets has sparked reactions in the United States,
South America, and Europe, raising questions about the sustainability of Beijing’s economic growth strategy.

UK Unemployment Rate Slows to the Lowest Level Since the Start of the Year

The unemployment rate in the United Kingdom dropped to 4.1% from May to July 2024,
down from 4.2% in the previous three-month period, aligning with market expectations.
This marks the lowest level since the three months ending in January,
with the number of unemployed individuals falling by 74,000 to 1.44 million.
During this period, the number of people unemployed for up to 12 months declined below last year’s levels,
while those unemployed for more than 12 months also decreased but remained above last year’s estimates.
Meanwhile, the number of employed individuals rose by 265,000,
the highest increase in over a year and a half, reaching 33.23 million,
primarily due to a rise in full-time employment.
Additionally, the number of people holding second jobs increased during the quarter,
making up 3.9% of the total workforce. Lastly, the economic inactivity rate fell by 0.3 percentage points to 21.9%.

Crypto Scams Surge 45% in 2023

Consumers lost over $5.6 billion last year due to cryptocurrency-related scams,
a 45% increase from 2022, according to estimates from the FBI.
According to a report published on Monday, the FBI’s Internet Crime Complaint Center received about 69,500
complaints from consumers in the United States and abroad over the past year.
Although cryptocurrency-related complaints accounted for only about 10% of all financial fraud complaints,
The reports said that the losses from these scams made up nearly half of the total financial losses.

The cryptocurrency market rebounded after a downturn in 2022,
with coin prices starting to rise again last year, attracting the attention of scammers.
Bitcoin’s price doubled last year and rose by about 35% in 2024.

Crypto Scams Surge 45% in 2023

Crypto Scams Surge 45% in 2023

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