Americans Lost $5.6 Billion to Cryptocurrency Fraud in 2023, FBI Reports

Investment scams accounted for nearly 71% of the total losses, with a significant rise in complaints and financial damages.

The FBI received over 69,000 complaints of cryptocurrency-related fraud in 2023, marking a 45% increase from 2022.
Investment scams were the primary cause, resulting in $3.96 billion in losses, or almost 71% of the total.
Fraudsters often build trust through dating apps and social media, then lure victims into fake crypto investments.
Victims span all age groups, but seniors reported the highest losses, totaling $1.24 billion.
California had the highest number of complaints and losses, followed by Florida, Texas, New York, and Washington.