HIGH street banks are going ‘to war’ on cryptocurrencies such as Bitcoin after a spike in fraud, reports the Times
One bank will use technology to ban several million customers from buying ANY digital currencies, it adds.
Ashley Hart, head of fraud at TSB, said: “Platforms and exchanges are rife with fraudsters, and many do not have proper controls to prevent victims losing large sums of monty.
“Crypto is a hotbed for fraud and urgently needs greater regulation and consumer protection.
“Anyone approached to invest in crypto should be extremely wary.”
Despite the warning, Dubaicoin saw its value shoot up 1,000 per cent in just 24 hours despite the price of other cryptocurrencies continuing to fall.
The city’s government has denied any official link, with the authority even claiming it is part of an “elaborate scam”.
The dramatic price rise came as the value of Bitcoin and other cryptocurrencies such as Ethereum continue to struggle.
Meanwhile, Elon Musk tweeted: “Someone suggested changing Dogecoin fees based on phases of the moon, which is pretty awesome haha.”
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