Washington, April 24, 2025 – The Federal Bureau of Investigation (FBI) says about $5.8 billion was lost to cryptocurrency-related cybercrimes in 2024.
It said this amount represented over 50% increase over all the reported crypto losses in 2024.
FBI said total internet crime losses rose to $16.6 billion in 2024, a 33% increase from its level in 2023.
According to a new report from the FBI’s Internet Crime Complaint Centre (IC3), close to 150,000 complaints were linked to fraudulent cryptocurrency activities in 2024.
It listed investment scams as the most damaging of the various schemes with reported losses.
FBI said a significant proportion of these investment fraud cases involved “pig butchering” scams, a manipulative scheme where criminals cultivate fake online relationships to coerce victims into investing in fraudulent crypto platforms.
The report highlighted the severe impact of crypto scams on older Americans, with individuals aged 60 and above reporting losses exceeding $2.8 billion, making them the most targeted age group.
