Head of Republic Crypto Andrew Durgee argues that regulation will help remove the bad actors from the industry.
The Federal Bureau of Investigation is warning of fraudulent cryptocurrency applications, which the agency says have defrauded U.S. investors out of nearly $43 million so far.
Head of Republic Crypto Andrew Durgee weighed in Wednesday, two days after the public warning was issued by the FBI, arguing the agency’s cyber division will continue to help protect retail individuals throughout the country.
Speaking on “Mornings with Maria,” Durgee said he expects to see more scams as crypto continues to gain traction.
“I think that scams are going to continue to happen just like they do in other aspects of tech, whether that’s from email fraud to credit card fraud,” Durgee said. “This is just another avenue for bad actors to try to take advantage of retail individuals.”
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The FBI warns that cyber criminals have been creating fraudulent crypto investment apps to exploit legitimate investments. (Photo Illustration by Chesnot/Getty Images / Getty Images)
“Actually I like the FBI being more and more involved,” he continued. “I think their digital securities group is becoming more and more active and it’s going to help protect individuals throughout the U.S.”
According to the advisory released Monday by the FBI, cybercriminals have been creating fraudulent crypto investment apps to exploit…
