According to a report released by the FBI, consumers lost over $5.6 billion to cryptocurrency-related fraud in the past year, marking a 45% increase from 2022. The FBI’s Internet Crime Complaint Center (IC3) received nearly 69,500 complaints related to cryptocurrency scams from consumers both in the U.S. and abroad.
While cryptocurrency-related complaints accounted for approximately 10% of the total financial fraud complaints, they represented nearly 50% of the total financial losses reported.
The rise in fraud cases highlights the growing risks associated with cryptocurrency investments, as scammers continue to exploit the increasing popularity of digital currencies.
The report underscores the urgent need for consumers to remain vigilant and informed about potential scams. The IC3 encourages individuals to report any suspected cyber crimes, as this information is crucial for tracking trends and aiding investigations.
The surge in cryptocurrency fraud has coincided with a broader increase in cybercrime, as the digital landscape becomes more complex and sophisticated. The FBI continues to emphasize the importance of public awareness and education to help mitigate the risks associated with online financial transactions.
