FBI Reports $9.3 Billion in Crypto Scams as Elderly Hit Hardest
The US Federal Bureau of Investigation (FBI) has flagged a sharp increase in cybercrime, with total losses surging to $16.6 billion in 2024. Over 859,000 complaints were lodged with the Internet Crime Complaint Center (IC3), underscoring the scale of the issue.
Cryptocurrency-related scams dominated the losses, accounting for $9.3 billion—nearly double the previous year’s $5.6 billion. Fraudsters are increasingly leveraging digital assets to obscure transactions and evade detection, according to B. Chad Yarbrough of the FBI’s Criminal and Cyber Division.
Investment and ATM scams have emerged as particularly rampant, with the elderly disproportionately affected. The opaque nature of blockchain transactions continues to complicate enforcement efforts.
