Thursday, December 1, 2022

CFPB issues bulletin charting consumer cryptoasset complaints

The Consumer Financial Protection Bureau released a new bulletin last week highlighting complaints the agency has received related to cryptoassets.

Consumers most commonly reported being victimized by fraud, theft, account hacks and scams. Consumers also had issues with executing transactions and transferring assets between exchanges, while others had issues accessing account funds due to platform failures, identity verification issues, security holds or because of technical issues. Poor customer service was another common theme across crypto-related complaints.