Indian Crypto Investors Lose $128 to Fake Crypto Apps and Website Scam, Report Says; DOGE up 11%

According to a report by cybersecurity research firm, CloudSEK, Indian crypto investors have lost around Rs 1000 crore due to several ongoing scams on fake crypto exchanges.

The report stated that the main reason why Indians fall prey to this type of cyberattacks is because the attackers reproduce an exact copy of the original encryption website and it is difficult for people to tell the difference between the original and duplicate.

The global crypto market capitalization fell 0.92% to $950.24 billion as of 8:30 a.m. However, the global crypto volume grew by 16.38% to $57.75 billion according to data from Coinmarketcap.

Indian crypto investors have lost around 1000 crore due to several ongoing scams on fake crypto exchanges

Cryptocurrency prices

Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $21,150.37, down 1.1% in the past 24 hours. Ethereum (ETH) fell 1.01% to $1,220.12.

“The market leader fell slightly on Sunday but continues to hold above $21,000 and Ether remains above $1,200. The fight for an uptrend is holding back any chance of a rally, currently at a distance. This week could prove to be more decisive, with either strong support or further price declines,” says Gaurav Dahake, CEO and Founder of Bitbns.

Among other major coins, Cardano (ADA) was down 0.48% at $0.4993, Algorand (ALGO) was trading with a loss of 2.62% at $0.3372, Solana (SOL) was trading with a loss of 3.29% to $39.89, Polkadot (DOT) was down 1.53% to $7.97, and Binance Coin (BNB) was down 1.04% to $236.09.

Today’s top gainer was GARD Governance Token (GGT), which rose 2429.75% to $0.0006167. The big loser was SUPE (SUPE) which fell 62.68% to $0.4532.

Meme Coin and DeFi prices

Dogecoin (DOGE) rose 10.58% to $0.07508. Its volume to market capitalization ratio is 0.1051. Rival Shiba Inu (SHIB) was down 2.07% at $0.00001139.

Dogelon Mars (ELON) lost 7.43% to trade at $0.0000003721, Floki Inu (FLOKI) lost 6.85% to $0.000006437 and Samoyed Coin (SAMO) rose 14.86% at $0.007547.

In the DeFi segment, YFI (yearn.finance) was down 5.21% at $6,531.42, and Terra Classic (LUC) was trading with a 33.57% gain at $0.00007884. Avalanche (AVAX) fell 4.08% to $20.10, Aave (AAVE) fell 5.1% to $66.84 and Uniswap (UNI) traded with a 2.81% gain at $5.72.

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