The world of crypto is an interesting place. Although the landscape is lauded for its security, there have been incidents that raise questions about its security. The FBI has just released a statement claiming that the organization received over 149,000 complaints regarding cryptocurrency crimes.
According to the report, there has been a total loss of approximately $9.3 billion. The figure in question has been accumulated through various crypto scams, including those involving crypto ATMs. According to 2024 data, the rate of crypto crime increased by 66% from the 2023 figure.
Elderly Investors At Risk
Operational director of the FBI’s cyber and criminal branch, Chad Yarbrough, stated, “Cryptocurrency has become an enticing means to cheat investors, launder proceeds, and engage in other illicit schemes.” Therefore, it means that the accessible landscape of cryptocurrency can help criminals cheat and scam under the radar.
Subsequently, the FBI’s section chief of the Financial Crime Section claimed that approximately 5,400 investors were targeted between 2024 and 2025. Delzottto further added that most victims were oblivious that they were being scammed.
According to FBI data, elderly people were the most common victims. The average age of the victims is 60 years. FBI data suggests that there have been at least 33,369 cases of 60-year-olds getting scammed. The amount scammed is close to $2,839,333,197.
This is alarming and requires immediate attention. Otherwise, this can develop into a significant global issue for the community. Therefore, FBI should include security checks to curb this issue.
