Crypto investment scams surged 150% in 2022 and comprised 75% of reported investment scams, says FBI report.
The FBI's Internet Crime Report 2022 has revealed a worrying trend in the world of cryptocurrency, with investment scams related to digital assets skyrocketing to a staggering $2.57 billion in 2022, up from $907 million in the previous year. These scams, which focused on liquidity mining, social media hacking, celebrity impersonations, and other similar schemes, accounted for over 77% of all investment scams reported to the Internet Crime Complaint Center (IC3).
The FBI has issued a warning about this surge in cryptocurrency investment schemes, urging people to be cautious and highlighting the devastating impact that these scams can have on victims. Many investors who fell prey to these fraudulent schemes have suffered significant losses, leaving them with massive debts to cover.
The report also revealed that over 31,000 crypto-related crimes were reported in 2022, with people between the ages of 30 and 49 being the most common victims. In addition, the FBI emphasized that ransomware attacks remain a serious threat to the public and the economy, despite a decrease in reported cases.
It's important to note that the report only covers crimes reported to the IC3, and blockchain intelligence firm Chainalysis reported a far higher number of $5.9 billion when it came to losses caused by crypto scams in 2022.
Overall, the FBI's report serves as a stark reminder of the need for vigilance and caution when it comes to investing in cryptocurrencies. With scammers becoming increasingly sophisticated and targeting unsuspecting victims with ever-evolving tactics, it's crucial to conduct thorough research and exercise caution before investing in any digital asset.
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