Americans Lost $5.6 Billion in Cryptocurrency Scams Last Year, FBI Says

Published on September 9, 2024

Americans lost more than $5.6 billion to cryptocurrency fraud in 2023, a significant increase from previous years, according to a new report from the FBI. The FBI’s Internet Crime Complaint Center (IC3) received more than 69,000 complaints involving cryptocurrency fraud, representing a 45 percent increase in losses compared to the previous year, the Sept. 9 report said. While these cryptocurrency-related complaints accounted for 10 percent of the total number of financial fraud complaints, they made up nearly half of all financial losses reported to the FBI. “As the use of cryptocurrency in the global financial system continues to grow, so too does its use by criminal actors,” Michael Nordwall, assistant director for the FBI’s Criminal Investigative Division, said in the report....

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