从中等到风险因素：加密投资如何增加欺诈受害

IF 6.9 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-09-29 DOI:10.1016/j.frl.2025.108592

Zefeng Bai, Pengcheng Wang

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引用次数: 0

摘要

传统观点认为，加密货币主要是非法融资的支付渠道。使用新发布的2024年NFCS数据（n = 16,296），我们研究了加密货币所有权是否会增加欺诈风险。通过实证分析，我们发现，相对于非加密投资者，加密投资者报告被欺诈针对并因欺诈而遭受经济损失的可能性是其两倍。这些发现将叙述从将加密货币视为金融交易的中性渠道转变为将其视为风险放大器，大大增加了欺诈受害的可能性。我们的研究结果为数字资产市场的投资者保护和监管设计提供了参考。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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From medium to risk factor: How crypto investment elevates fraud victimization

Conventional wisdom treats cryptocurrency mainly as a payment rail for illicit finance. Using newly released 2024 NFCS data (n = 16,296), we examine whether crypto ownership elevates fraud risk. Through empirical analysis, we find that crypto investors are twice as likely to report being targeted by scams and to incur financial losses from fraud, relative to non-crypto investors. These findings shift the narrative from viewing cryptocurrency as a neutral channel for financial transactions to recognizing it as a risk amplifier that significantly increases the likelihood of fraud victimization. Our findings inform investor protection and regulatory design in digital asset markets.

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance