top of page
  • Writer's pictureTeresa Pace

In 2023, cryptocurrency-related investment fraud saw a 53% increase, according to the FBI.

According to the FBI, cryptocurrency-related investment fraud dominated investment losses in the United States during 2023. The FBI's recent report indicates that losses stemming from crypto-related schemes surged from $2.57 billion in 2022 to approximately $3.94 billion in 2023, marking a 53% increase. These losses accounted for around 86% of the total investment fraud losses in the country, which amounted to $4.57 billion in 2023. The FBI underscored a growing trend of individuals falling prey to crypto scams enticed by the promise of high returns on investments.

"These fraudulent schemes lure victims with the prospect of substantial investment returns."

One prevalent type of crypto scam involves romance scams, where criminals assume fake online personas to cultivate victims' trust and affection, persuading them to send crypto before vanishing. Chainalysis reported in December 2023 that romance scams resulted in at least $374 million in suspected stolen crypto during the year. Additionally, Cointelegraph reported on January 1 that over 324,000 crypto users were victimized by phishing scams in 2023, resulting in approximately $295 million in lost digital assets.

The increase in crypto scam victims isn't limited to the United States; numerous countries worldwide are facing similar challenges. In April 2023, the Australian Competition and Consumer Commission revealed that Australians lost 221.3 million Australian dollars ($146.9 million) in investment scams involving crypto as the payment method in 2022, marking a staggering 162.4% increase from 2021.

1 view0 comments


bottom of page