According to online reports, the French Financial Markets Authority (AMF) reported that cryptocurrency-related fraud is the main reason for victims 'annual losses of approximately 500 million euros. French authorities are working with the Paris Public Prosecutor's Office, the Office of Audit and Resolution Regulation (ACPR) and the General Directorate for Anti-Fraud, Consumer and Suppression of Fraud (DGCCRF) to step up efforts to combat these frauds. Data shows that men under the age of 35 are particularly vulnerable. They are eager for quick success and lack confidence in their investment knowledge. Scammers exploit this group by using social media platforms to promise unrealistic rewards.