Africa Tops in the Fight Against Crypto Fraud.

Last updated on September 22nd, 2020 at 10:06 am

The recent report released by Chainalysis, Blockchain Forensics suggests that the education against crypto fraud in Africa has reared more fruits. 

The report shows that crypto enthusiasts and crypto traders across the region are less likely to fall victim to scam addresses than most other crypto traders located in other regions of the world.

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Chainalysis report suggests that illicit cryptocurrency activity accounted for just 1.4% of the region. This shows that the rate of illicit crypto activity associated with scams across Africa isn’t as high as seen in other regions around the world.

“People in many parts of Africa have fallen victim to financial scams common in the fiat world, such as pyramid schemes and other investment scams,” the report stated.

“While scams still make up a large portion of illicit cryptocurrency activity in Africa, the share isn’t as high as it is elsewhere.”

Read Also: Getting Started With Cryptocurrency in Nigeria (Ultimate How-To Guide).

How Was This Possible:

DiutoCoinNews has earlier before now, dedicated a session on our blog labelled ‘Learn Crypto’, this session is dedicated to educating new persons entering in the cryptocurrency space in Nigeria. 

Our readers who are focused on Bitcoin, cryptocurrency news and cyber security, FinTech and Finance including DeFi are always opportuned to benefit and learn about crypto geared towards the ecosystem in Nigeria and Africa. 

Crypto Education is a paramount task for all industry players across Africa of which DiutoCoinNews is at the fore-front of this, through different series of educational sessions, sharing of materials, videos and conducting classes for our WhatsApp and Telegram communities in Nigeria and Africa.