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Author: Admin | 2025-04-28
Total of over 10,000 cases of crypto fraud reported in 2023, and losses exceeding $1.5 billion. Crypto scam victim age group| Credit: FBIThe FBI notes that the decentralized nature of cryptocurrency—which allows for quick, irreversible transactions and facilitates value transfer worldwide—is a key factor in the rise of crypto crimes. These characteristics make cryptocurrency both a lucrative target for legitimate investors and an attractive vehicle for those with illicit intentions.These features have also created unique challenges for law enforcement agencies seeking to track and thwart crypto crimes, highlighting the need for continued innovation and collaboration in the fight against these increasingly sophisticated schemes.Addressing the increasing severity of crypto scams, FBI Director Christopher Wray noted ,“Scams targeting investors who use cryptocurrency are skyrocketing in severity and complexity. The best way to help stop these crimes is for people to report them to ic3.gov, even if they did not suffer a financial loss. The information allows us to stay on top of emerging schemes and criminals’ use of the latest technologies, so we can keep the American public informed and go after those who commit these crimes.”Investment Scams Top the ListCrypto scams come in various guises, but investment scams were by far the most common, the FBI noted.An investment scam is where scammers launch fake investment schemes promising high investment returns. Here’s how they typically work: scammers coax victims into making an initial investment, promising to double or triple the returns. The scammers then pressure the victims to invest more substantial sums,
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