Cryptocurrency scams have always been successful ever since this industry was created. Even in 2019, there are multiple successful scams which cost people a lot of good money. In Israel, one scammer successfully stole $1.7m spanning various cryptocurrencies by primarily targeting users in Western Europe.
It would appear Israel has become a prominent region for cryptocurrency in recent years. This is primarily because it makes for a good speculative investment vehicle, as well as an alternative to traditional money. For all of the positive momentum this industry has triggered, there are numerous scams active in the country. Most of these ventures have cost people a lot of good money, which paints a troublesome picture.