Data from Pinsent Masons, a multinational law firm, showed the value of reported UK cryptocurrency fraud has jumped by 32 percent in a single year, from £171 million to £226 million.

The number of fraud reports has also increased to 10,030, 16 percent more than last year’s total of 8,676.

Hinesh Shah, senior associate forensic accountant and financial crime investigator at Pinsent Masons, explained that despite the fall in cryptocurrency prices, the association of cry...