Americans Lost Billions Last Year on Crypto Scams – IOTW Report

Americans Lost Billions Last Year on Crypto Scams

AP

Americans were duped out of more than $5.6 billion last year through fraud schemes involving cryptocurrency, the FBI said in a report released Monday that shows a 45% jump in losses from 2022.

The FBI received nearly 70,000 complaints in 2023 by victims of financial fraud involving bitcoin, ether and other cryptocurrencies, according to the FBI. The most rampant scheme was investment fraud, which accounted for $3.96 billion of the losses.

“The decentralized nature of cryptocurrency, the speed of irreversible transactions, and the ability to transfer value around the world make cryptocurrency an attractive vehicle for criminals, while creating challenges to recover stolen funds,” wrote Michael Nordwall, assistant director of the FBI’s criminal investigative division. More

14 Comments on Americans Lost Billions Last Year on Crypto Scams

  1. “Americans were duped out of more than $5.6 billion last year through fraud schemes involving cryptocurrency, the FBI said in a report…”

    So let us take care of your crypto. We’ll make sure you ar screwed out of all it.

    8
  2. A currency based on nothing but electron flow.
    Nothing tangible, no intrinsic value.
    Worse then investing in tulip bulbs (Dutch 17th century) or US Goobermrnt issued fiat paper currency.
    Nope, not investing.

    5
  3. These scam coning are getting crazy………. Someone just shilled me:
    27 trillion in circulation
    unlimited supply cap
    only 1 node
    25% of supply minted in last 6 months
    1% holders own 30%

    2

Comments are closed.