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When two cryptocurrencies crashed roughly three weeks ago, the effects were devastating. Their collapse sparked over $500 billion in losses in the broader crypto market. Numerous investors saw their life savings evaporate. Others contemplated suicide. People called for criminal investigations into the company behind it all and government regulation for the larger market.
The Wikimedia Foundation has stopped accepting donations in cryptocurrency after community members raised concerns about its environmental implications.
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Every new technology has attracted scam artists throughout history. But the cryptocurrency space is particularly infested with fraud at the moment.