Numerama Reports Surge in Crypto Use in Classic Scams

Numerama investigates how cryptocurrencies are now frequently used in traditional investment scams. Victims are tricked into transferring money to crypto wallets instead of banks — often without realizing they’re dealing with digital assets.In this article, journalist François Remy explores the growing trend of cryptocurrencies being used in traditional financial scams. While scams involving digital assets are not new, what’s changing is the way crypto is integrated into "classic" investment frauds — including real estate, wine, gold, and trading schemes.

The investigation centers on insights from Yann Skorochod, CEO of Broker Defense France, a company that supports victims of financial fraud. According to Skorochod, in the past year there’s been a dramatic rise in crypto-related fraud cases. The scams appear traditional at first — seemingly legitimate investment opportunities — but during the transaction phase, victims are asked to send funds to crypto wallets instead of traditional bank accounts.

These wallets are often opened via major crypto exchanges, with scammers not even bothering to hide behind complex blockchain layers. Instead, they rely on victims’ lack of crypto awareness. Most don’t realize they’ve used cryptocurrency until it’s too late — a factor that makes legal recovery extremely difficult.

The article also quotes Europol Deputy Director Jean-Philippe Lecouffe, who confirms that the line between organized crime and crypto-based operations is fading fast. Criminals now rely on digital assets not only for laundering money but also for orchestrating the fraud itself.

This pattern follows the broader post-FTX climate, where calls for stricter crypto regulation have grown across Europe. However, until legal systems and user education catch up, crypto will remain a highly effective tool for fraud — especially in countries with low digital literacy.

The piece underlines a critical message: crypto scams are no longer niche — they’re the new normal for financial fraudsters.