Assessing the Correlates of Cryptofraud Victimization Reporting

Cryptofraud is an emerging category of fraud, driven by the increasing popularity and prevalence of cryptocurrencies. While existing research documents a consistently low rate of reporting and help-seeking across many types of fraud, it is yet to assess if this applies to cryptofraud. The current article examines the correlates of 2,108 reports to an online portal from individuals who experienced cryptofraud. It finds that a similar percentage of cryptofraud victims reported their incident to authorities. It also found that different pieces of information contained in the report were relevant in predicting reporting behavior. Overall, this article provides insights into an emerging category of fraud vicitmization, and points to a need to better understand and support cryptofraud victims.