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FBI Report Highlights $9.3B Surge in Crypto Fraud for 2024
FBI Report Highlights $9.3B Surge in Crypto Fraud for 2024
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Cryptocurrency fraud dominated financial crime losses in 2024, accounting for $9.3 billion of the $16.6 billion total reported by the FBI’s Internet Crime Complaint Center. Despite a slight decrease in complaint volume to 859,532 cases, overall losses surged 33% year-over-year.
Investment scams proved particularly devastating, with crypto-related schemes alone responsible for $5.8 billion in damages. Fraudsters increasingly targeted novice investors through social engineering ploys, counterfeit trading platforms, and romantic "pig butchering" cons. The report also noted growing use of digital assets for money laundering operations.
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