In 2024, people over 60 lost $2.84 billion to crypto scams in the US.
The FBI’s Internet Crime Complaint Center (IC3) received 33,369 complaints from this age group alone.
Crypto Scams on the Rise
The IC3 reported 149,686 crypto-related incidents in 2024, a 66% increase from the previous year.
Total losses reached $9.3 billion, with investment scams accounting for $5.8 billion.
Crypto ATM scams added another $247 million to the total losses.
Overall, cybercrime complaints surged to 859,532 cases in 2024, with total losses of $16.6 billion.
This represents a 33% year-over-year increase, with an average loss of $19,372 per case.
California, Texas, and Florida were the most affected states.
FBI’s Response to Crypto Scams
The IC3 has been the primary channel for reporting cybercrime in the US for 25 years.
FBI Director Kash Patel emphasized that the center’s effectiveness relies on public reporting.
In 2024, the FBI issued warnings about North Korean hackers targeting Web3 companies.
They also advised against using unregistered crypto platforms.
The rise of crypto has brought increasingly sophisticated scams.
These include fake investment opportunities and cloned websites.
To combat this, financial and digital literacy, especially among vulnerable groups, is essential.
The IC3’s annual report highlights the growing need for vigilance in the digital economy.
As crypto continues to evolve, so do the tactics of scammers.
Staying informed and cautious is key to avoiding these threats.