In its 2024 annual report, the FBI’s Internet Crime Complaint Center (IC3) revealed a sharp rise in the number and severity of cryptocurrency-related fraud cases.
Over the course of the year, the IC3 recorded over 140,000 complaints linked to cryptocurrency, which led to staggering financial losses of $9.3 billion.
Alarming Trend
A significant portion of these losses came from individuals aged 60 and above, who filed roughly 33,000 complaints and suffered a combined total of $2.8 billion in losses. This age group also saw the largest increase in both reported complaints and financial harm.
The IC3’s report also noted a dramatic year-over-year increase in losses – 66% higher than in 2023, when total losses amounted to $5.6 billion. Investment scams involving cryptocurrency were the primary source of these losses, but the report also highlighted other schemes such as sextortion, where criminals manipulate personal content to coerce victims into sending money, and fraud
