Golden Finance reported that the French Financial Market Authority (AMF) reported that cryptocurrency-related fraud is the main reason why victims lose approximately 500 million euros every year. French authorities are working with the Paris Public Prosecutor's Office, the Audit and Resolution Supervisory Authority (ACPR) and the Directorate General for Combating Fraud, Consumerism and Suppression of Fraud (DGCCRF) to intensify efforts to combat these frauds. Data shows that men under the age of 35 are particularly vulnerable. They are eager for quick success and have little confidence in their investment knowledge. Scammers use social media platforms to take advantage of this population by promising unrealistic returns.