$5.6 Billion Lost to Cryptocurrency Fraud in 2023, Says FBI
Major Losses Attributed to Cryptocurrency Fraud
In 2023, Americans lost an astounding $5.6 billion to fraudulent schemes involving cryptocurrency. The FBI reported a significant increase in investment fraud, with losses reaching $3.9 billion. Personal data breaches and tech support scams also contributed to the staggering figures.
Methods Used by Fraudsters
- Investment fraud: Primary source of losses.
- Fraudsters contact victims through dating apps and social media.
- Victims are lured into fake investments with promises of large returns.
Impact Across the States
The FBI noted that California had the highest number of complaints, totaling 9,522 cases. This growing issue underscores the importance of vigilance in protecting one's cryptocurrency investments.
Recommendations for Protection
- Always verify website authenticity.
- Don’t share personal data without confirming identities.
- Be cautious of anyone soliciting investments through social networks.
As losses escalate, a proactive approach is essential to thwart scams in the cryptocurrency domain.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.