Crypto Scam Losses Surge 45% to $5.6 Billion in 2023, FBI Warns
Crypto-related scam losses have surged by 45% from 2022 to 2023, according to the FBI's Internet Crime Complaint Center (IC3). The total losses in 2023 exceeded $5.6 billion, with investment scams topping the list of crimes.
Phishing scams and business email compromise linked to crypto resulted in over $13 million in losses. Other significant crimes included personal data breaches ($494 million), tech support fraud ($420 million), and romance scams ($215 million). The IC3 recommends reporting all crypto-related crimes, even if no financial loss occurred.
In the US, citizens from California, Florida, and Texas filed the highest number of complaints. Globally, the US, Canada, and the UK led in complaint counts. Losses from crypto investment fraud schemes alone rose by 53% to $3.96 billion in 2023, accounting for nearly 71% of all crypto-related losses.
Crypto investment scams remain the most prevalent and costly form of crypto-related crime. The FBI's IC3 received over 69,000 complaints related to financial fraud and crypto in 2023. Citizens are urged to remain vigilant and report any suspicious activity.
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