The FBI’s Internet Crime Complaint Center said it received more than 69,000 complaints from the public regarding financial fraud involving the use of cryptocurrency last year.
FBI: Crypto fraud complaints rise 45% in 2023
September 10, 2024 / By ICBA
The FBI’s Internet Crime Complaint Center said it received more than 69,000 complaints from the public regarding financial fraud involving the use of cryptocurrency last year.
The FBI’s Internet Crime Complaint Center said it received more than 69,000 complaints from the public regarding financial fraud involving the use of cryptocurrency last year.
Details: According to the latest IC3 report on crypto:
Estimated losses with a nexus to cryptocurrency totaled more than $5.6 billion, an increase of 45% from 2022.
While the number of crypto-related complaints represent 10% of the total number of financial fraud complaints, the losses associated with these complaints account for almost 50% of total losses.
People aged 60 and above had the most complaints and highest losses.
Almost all losses are attributed to investment scams, also known as pig butchering.
ICBA Resources: Recent ICBA blog posts spotlight the growing pig-butchering scam, in which fraudsters use cryptocurrencies to defraud victims, and the need for a policy response.
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