The FBI’s 2022 internet crime report reveals that cryptocurrency investment fraud in the United States increased almost threefold year-over-year, with losses totaling $2.57 billion, compared to $907 million in 2021.
These losses represent roughly 25% of all money lost to online scams and almost 90% of the $3.31 billion lost to online investment fraud.
Overall, Americans lost a record $10.3 billion to online scammers and fraudsters in 2022, with crypto-based fraud hitting record numbers.
Scammers used various techniques to target and defraud their victims, with some offering access to fake liquidity mining platforms, while others used hacked social media profiles to offer fraudulent investment offers. Additionally, some used fake real estate investment opportunities and employment offers to scam their victims.
The majority of victims were aged between 30 and 49, with around 30% of victims aged 60 and above.
The FBI reported that scammers are becoming increasingly sophisticated and are now targeting cryptocurrency exchanges and their customers.
Scammers typically use phone number spoofing and business email compromise to conduct these scams.
The report highlights the importance of staying vigilant and thoroughly researching investment opportunities before committing funds. The FBI recommends reporting suspected fraud to its internet crime complaint center (IC3).
