According to a recently published report by the FBI’s Internet Crime Complaint Center (IC3), the US recorded nearly 150,000 cases of fraud in the crypto space in 2024, resulting in total losses of approximately $9.3 billion. Compared to the previous year, the volume of losses from such crimes increased by an impressive 66%.
This is reported by Finway
Rise in Crypto Fraud
The report indicates that the number of incidents related to fraud, extortion, and data theft reached 859,532 in 2024, with confirmed total losses of $16.6 billion, which is a 33% increase compared to 2023. The most affected demographic is individuals aged 60 and over, who are the most vulnerable group to scammers.
“The number of complaints, the volume of losses, and the age groups concerning fraud in the crypto space,” states the IC3 report.
Situation with Crypto Assets
Charts indicate a rapid increase in losses from crypto fraud since 2021. The majority of complaints pertain to crypto pyramids and extortion, with figures of 41,557 and 54,936 respectively. In terms of loss volume, the increase from these cases compared to 2023 is 9% and 47% respectively. Such data underscores the seriousness of the problem faced by investors in the crypto space.
Additionally, a previously identified UN report noted that illegal mining has become a tool for crypto syndicates to carry out criminal activities.
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