The FBI reports Americans lost $5.6 billion to crypto scams in 2023, escalating to $9.3 billion in 2024, per the IC3. This article explores scam types, impacts, and prevention strategies, leveraging TrueScope Consulting’s expertise.
2023 FBI Report
- Total Complaints: 69,468.
- Total Losses: $5.6 billion.
- Investment Fraud: $3.96 billion.
- Seniors: $1.65 billion.
- Crypto ATMs: $189 million+.
2024 FBI Report
- Total Losses: $9.3 billion.
- Investment Fraud: $5.8 billion.
- Seniors: $2.8 billion across 33,000 complaints.
- Sextortion: Most reported scam.
Common Scam Types
- Pig Butchering: Trust-based investment scams.
- Sextortion: Extortion via explicit media.
- Tech Support Scams: Fake support accessing accounts.
- Romance Scams: Emotional manipulation.
Trends and Impact
Scammers target seniors and use crypto ATMs. Victims face financial and emotional devastation. Blockchain’s irreversibility complicates recovery.
Protective Measures
- Research platforms.
- Use 2FA.
- Report to the IC3 (ic3.gov).
- Consult TrueScope (Cryptocurrency Fraud Investigation Services).
Case Study
- Kansas Pig Butchering (2023): FBI recovered $8 million using blockchain analytics.
Conclusion
The FBI’s reports underscore the need for vigilance. TrueScope’s Crypto Asset Tracing & Recovery services can help mitigate risks.
