The FBI reports that the US citizens lost about $5.6 billion in crypto frauds in 2023, up 45% from 2022.
The report identified that the elderly were the most vulnerable and often victimized, with $1.6 billion lost.
The crypto-related complaints accounted for 10% of total reports but 50% of the losses.
The FBI’s Internet Crime Complaint Center has released a sobering statistic: Americans reported a staggering $5.6 billion in losses due to crypto fraud in 2023. This represents a 45% increase from the previous year, highlighting the growing threat of crypto scams.
Crypto-related complaints accounted for 10% of all reports to the FBI, but the financial impact was disproportionately high, representing 50% of the total losses reported for the year.
Elderly Particularly Vulnerable to Crypto Scams
With nearly 70,000 complaints of crypto fraud, losses in 2023 soared 45% compared to 2022. The report found the elderly were especially targeted, accounting for almost $1.6 billion of the losses. Investment schemes were the most prevalent, making up 71% of crypto fraud, followed by call center fraud and impersonation scams.
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