FBI Warns of Rising Cryptocurrency Scams
According to recent findings by the United States Federal Bureau of Investigation (FBI), fraudulent schemes linked to cryptocurrency investments accounted for the highest share of investment losses in the U.S. during 2023.
The FBI disclosed that losses associated with cryptocurrency investments surged from $2.57 billion in 2022 to approximately $3.94 billion in 2023, marking a notable increase of 53%.
This surge resulted in cryptocurrency-related fraud contributing to about 86% of the total investment fraud losses in the nation, which amounted to $4.57 billion for the year.
The federal agency highlighted a concerning trend wherein an increasing number of individuals are lured into crypto scams with promises of substantial returns on their investments.
These scams often exploit individuals’ desire for financial gain by presenting enticing investment opportunities.
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One prevalent form of crypto scam reported involves romance scams, where perpetrators assume false identities online to build trust with victims, ultimately persuading them to send cryptocurrency before disappearing.
In December 2023, Chainalysis revealed that romance scams alone accounted for an estimated $374 million in suspected stolen cryptocurrency during the year.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
