Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

FBI reports $9.3 billion in US targeted crypto scams as elderly hit hardest

Share This Post

The US Federal Bureau of Investigation (FBI) has reported a significant spike in cybercrime activity, with total losses across the country reaching $16.6 billion in 2024, according to its latest annual report.

This figure stems from more than 859,000 complaints submitted to the Internet Crime Complaint Center (IC3).

One of the most concerning findings was the dramatic rise in cryptocurrency-related scams, which accounted for $9.3 billion in reported losses. This nearly doubles the $5.6 billion recorded the previous year and was driven by close to 150,000 complaints.

B. Chad Yarbrough, operations director of the FBI’s Criminal and Cyber Division, warned that cryptocurrencies have become a central element in modern digital deception, enabling fraudsters to obscure transactions and evade detection.

Investment and ATM scams rise

Crypto investment scams, especially those using “pig butchering” tactics, were the leading contributors to last year’s crypto-related losses.

These scams involve bad actors developing fake emotional relationships with victims before persuading them to invest in fraudulent crypto platforms. Losses from these schemes totaled around $5.8 billion in 2024 alone.

Another troubling trend was cybercriminals using crypto ATMs and QR codes in scams involving tech support and fake government representatives. These schemes generated an additional $247 million in losses by tricking victims into transferring crypto funds directly to scammers.

According to the report, these scams were often designed to appear legitimate, making it easier to deceive victims into handing over their money.

Crypto scams targeting the elderly

Meanwhile, the report highlighted a disturbing pattern of crypto scams targeting older Americans.

Victims aged 60 and over filed 33,369 crypto-related complaints in 2024, resulting in losses exceeding $2.8 billion. This represents a loss rate more than four times higher than the average for other online fraud cases.

On average, each senior victim lost around $83,000, significantly more than the $19,372 average reported across all types of cybercrime.

To address this growing threat, the FBI has introduced several initiatives to protect vulnerable individuals.

One of these is Operation Level Up, which is focused on identifying and assisting victims of crypto investment fraud. So far, it has helped prevent or recover approximately $285 million in losses.

Yarbrough said:

“We worked proactively to prevent losses and minimize victim harm through private sector collaboration and initiatives like Operation Level Up. We disbanded fraud and laundering syndicates, shut down scam call centers, shuttered illicit marketplaces, dissolved nefarious ‘botnets,’ and put hundreds of other actors behind bars.”

The post FBI reports $9.3 billion in US targeted crypto scams as elderly hit hardest appeared first on CryptoSlate.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Bridging Bitcoin to DeFi: Insights from MacLane Wilkison, CEO of tLabs and Co-founder of Threshold

In a recent podcast episode, MacLane Wilkison, CEO of tLabs and co-founder of Threshold Network, shared a compelling vision for Bitcoin’s future in decentralized finance (DeFi) At the center of the

Bitcoin Solaris Introduces Smartphone Mining Algorithm That Cardano Developers Call “Revolutionary”

The post Bitcoin Solaris Introduces Smartphone Mining Algorithm That Cardano Developers Call “Revolutionary” appeared first on Coinpedia Fintech News Cardano’s staking model has long been

Phoenix Group Mines 350 Bitcoin in Q1, Bolsters North American Operations With Texas Facility

This week, Phoenix Group PLC reported $31 million in Q1 2025 revenue alongside progress toward 500 megawatts (MW) of global bitcoin mining capacity, including a newly operational 20 MW facility in

USDC hits record $219 billion volume in April as Binance partnership boosts market dominance

USDC trading volumes surged to consecutive all-time highs, reaching $219 billion last month, doubling since January According to data from Kaiko, the rise comes on the back of Circle’s key

Saylor Pressures Microsoft To Join Bitcoin Revolution With $75 Billion Bet

At the Bitcoin for Corporations 2025, MicroStrategy executive chairman Michael Saylor turned his keynote into a direct challenge for one of the technology sector’s most cash-rich giants Speaking to

‘The Big Short’ Coming For Bitcoin? Why BTC Will Clear $110,000

Market commentator Miya has outlined an interesting theory on why the Bitcoin price is poised to hit $110,000 by the end of the year The expert alluded to current macro conditions and how it is bound