Share this article
FBI Says Americans Lost $9.3B to Crypto Scams in 2024
An IC3 report shows crypto investment fraud ballooned, with over $2.8 billion lost by victims aged 60 and older. Total losses hit $9.3 billion after rising 66% year-over-year.
Updated Apr 24, 2025, 6:09 p.m. Published Apr 24, 2025, 12:15 p.m.
Make us preferred on Google
What to know:
- U.S. victims lost a record $9.3 billion to crypto-related scams in 2024, a 66% increase from the year prior.
- People over 60 reported the most complaints and losses, with “pig butchering” scams a key tactic.
- Investment fraud and tech support scams were the most costly crypto crimes.
Americans reported a record $9.3 billion in losses to cryptocurrency-related crimes in 2024, according to a report by the Federal Bureau of Investigation's (FBI) Internet Crime Complaint Center (IC3). The losses represent a 66% jump from 2023 and highlight the growing use of digital assets in online fraud schemes.
The annual IC3 report says nearly 150,000 complaints linked to crypto, with investment fraud leading the way. In these schemes, scammers often pretend to offer high returns on fake cryptocurrency platforms, coaxing victims to transfer funds that are then siphoned away.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The FBI also spotlighted “pig butchering” scams, where fraudsters build online relationships before pushing fake crypto investments. Crypto investment schemes led to $5.8 billion in losses, while the second-largest category by losses at $1.1 billion were data breaches.
Elderly Americans bore the brunt of the damage. Individuals over 60 reported $2.8 billion in losses through crypto-related crimes—more than any other age group— up from $1.65 billion in 2023 and $1.08 billion in 2022.
The second-most affected age group, those aged 40-49, suffered $1.4 billion in losses, while those under the age of 40 suffered combined losses of around $1.37 billion.
Over 8,000 of the complaints stemmed from people over 60 and related to fake investment opportunities, while others fell victim to tech support fraud and impersonation schemes, often involving cryptocurrency ATMs.
Operation Level Up, a government initiative launched in January 2024, identified thousands of victims of crypto investment fraud and prevented an estimated $285 million in further losses, per the report. It referred 42 victims for suicide intervention.
More For You
Strategy's STRC returns to $100, poised to unlock more bitcoin accumulation
The perpetual preferred STRC hits $100 par amid bitcoin downturn, enabling potential further BTC purchases for the company.
What to know:
- Stretch (STRC) reclaimed its $100 par value for the first time since mid-January, a move that enables Strategy (MSTR) to resume at-the-market offerings for additional bitcoin purchases.
- The preferred equity stabilized near par despite recent bitcoin volatility, supported by a monthly dividend rate that Strategy recently increased to 11.25%.
Top Stories
